Post Session- Dalal Street snaps 2-day winning streak on profit taking
07/09/2016 16:26
NIFTY Fut : SELL ZONE
BANKNIFTY FUT : SELL ZONE
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Indian equity benchmarks closed with modest losses on Wednesday, snapping a two-day winning run as investors resorted to profit booking at existing levels after Dalal Street hit an 18-month high in the previous session on rising speculation of a delay in US monetary tightening.
The 30-share BSE SENSEX closed at 28,926.36, down by 51.66 points or by 0.18 per cent and the NSE Nifty ended at 8,917.95, down by 25.05 points or by 0.28 per cent. The BSE Sensex touched intraday high of 29,067.84 and intraday low of 28,911.31. The NSE Nifty touched intraday high of 8,968.7 and intraday low of 8,913.35.
Markets were in consolidation mode today in the absence of any major domestic trigger. While the Indian economy is showing signs of an improvement evident by the August manufacturing and services data released recently, the focus is also on the next moves from key global central banks across the US, UK, Euro area and Japan. Lower interest rates and continued central bank stimulus may continue to power foreign fund inflows into emerging markets such as Asia’s third biggest economy.
The top losers of the BSE Sensex pack were Asian Paints Ltd. (down 1.92 per cent), Housing Development Finance Corporation Ltd. (down 1.87 per cent), Axis Bank Ltd. (down 1.72 per cent), NTPC Ltd. (down 1.50 per cent) and Tata Consultancy Services Ltd. (down 1.49 per cent), among others.
Sector-wise, consumer durables and oil & gas fell 0.96 per cent and 0.36 per cent, respectively.
Indian equity benchmarks closed with modest losses on Wednesday, snapping a two-day winning run as investors resorted to profit booking at existing levels after Dalal Street hit an 18-month high in the previous session on rising speculation of a delay in US monetary tightening.
Markets were in consolidation mode today in the absence of any major domestic trigger. While the Indian economy is showing signs of an improvement evident by the August manufacturing and services data released recently, the focus is also on the next moves from key global central banks across the US, UK, Euro area and Japan. Lower interest rates and continued central bank stimulus may continue to power foreign fund inflows into emerging markets such as Asia’s third biggest economy.
The top losers of the BSE Sensex pack were Asian Paints Ltd. (down 1.92 per cent), Housing Development Finance Corporation Ltd. (down 1.87 per cent), Axis Bank Ltd. (down 1.72 per cent), NTPC Ltd. (down 1.50 per cent) and Tata Consultancy Services Ltd. (down 1.49 per cent), among others.
Sector-wise, consumer durables and oil & gas fell 0.96 per cent and 0.36 per cent, respectively.
The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3052, shares advanced were 1469 while 1415 shares declined and 168 were unchanged.
Asian shares ended on a tepid note amid uncertainty surrounding the timing of the next US Federal Reserve interest rate hike after a top Fed official favoured a sooner rather than later hike in borrowing costs despite the recent underwhelming data. Data on Tuesday showed fresh weakness in the US economy as a services index fell to 51.4 in August, the lowest since February 2010, from 55.5 in July. Shanghai Composite ended tad higher, Hang Seng fell and Japan’s Nikkei 225 ended lower as a stronger yen curbed the lure for exporter stocks.
07/09/2016 16:26
NIFTY Fut : SELL ZONE
BANKNIFTY FUT : SELL ZONE
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Indian equity benchmarks closed with modest losses on Wednesday, snapping a two-day winning run as investors resorted to profit booking at existing levels after Dalal Street hit an 18-month high in the previous session on rising speculation of a delay in US monetary tightening.
The 30-share BSE SENSEX closed at 28,926.36, down by 51.66 points or by 0.18 per cent and the NSE Nifty ended at 8,917.95, down by 25.05 points or by 0.28 per cent. The BSE Sensex touched intraday high of 29,067.84 and intraday low of 28,911.31. The NSE Nifty touched intraday high of 8,968.7 and intraday low of 8,913.35.
Markets were in consolidation mode today in the absence of any major domestic trigger. While the Indian economy is showing signs of an improvement evident by the August manufacturing and services data released recently, the focus is also on the next moves from key global central banks across the US, UK, Euro area and Japan. Lower interest rates and continued central bank stimulus may continue to power foreign fund inflows into emerging markets such as Asia’s third biggest economy.
The top losers of the BSE Sensex pack were Asian Paints Ltd. (down 1.92 per cent), Housing Development Finance Corporation Ltd. (down 1.87 per cent), Axis Bank Ltd. (down 1.72 per cent), NTPC Ltd. (down 1.50 per cent) and Tata Consultancy Services Ltd. (down 1.49 per cent), among others.
Sector-wise, consumer durables and oil & gas fell 0.96 per cent and 0.36 per cent, respectively.
Indian equity benchmarks closed with modest losses on Wednesday, snapping a two-day winning run as investors resorted to profit booking at existing levels after Dalal Street hit an 18-month high in the previous session on rising speculation of a delay in US monetary tightening.
Markets were in consolidation mode today in the absence of any major domestic trigger. While the Indian economy is showing signs of an improvement evident by the August manufacturing and services data released recently, the focus is also on the next moves from key global central banks across the US, UK, Euro area and Japan. Lower interest rates and continued central bank stimulus may continue to power foreign fund inflows into emerging markets such as Asia’s third biggest economy.
The top losers of the BSE Sensex pack were Asian Paints Ltd. (down 1.92 per cent), Housing Development Finance Corporation Ltd. (down 1.87 per cent), Axis Bank Ltd. (down 1.72 per cent), NTPC Ltd. (down 1.50 per cent) and Tata Consultancy Services Ltd. (down 1.49 per cent), among others.
Sector-wise, consumer durables and oil & gas fell 0.96 per cent and 0.36 per cent, respectively.
The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3052, shares advanced were 1469 while 1415 shares declined and 168 were unchanged.
Asian shares ended on a tepid note amid uncertainty surrounding the timing of the next US Federal Reserve interest rate hike after a top Fed official favoured a sooner rather than later hike in borrowing costs despite the recent underwhelming data. Data on Tuesday showed fresh weakness in the US economy as a services index fell to 51.4 in August, the lowest since February 2010, from 55.5 in July. Shanghai Composite ended tad higher, Hang Seng fell and Japan’s Nikkei 225 ended lower as a stronger yen curbed the lure for exporter stocks.
