Mid-Session: Sensex, Nifty edge higher in choppy trade; broader markets outperform : 28/11/2016 12:21
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
Amidst choppy trade, the Indian benchmarks edged higher in in late morning deal on Monday, paring early losses, helped by strong gain across broader markets with Mid cap and Small cap stocks rallying over 1 per cent each.
At 12:10 hours, the 30-share benchmark index was trading at 26395.44, up by 79.1 points or by 0.3 per cent, and the NSE Nifty was at 8133.4, up by 19.1 points or by 0.24 per cent.
Shares of financial companies faced selling pressure on Monday after the Reserve Bank of India (RBI) hiked the cash reserve ratio over the weekend. The central bank has introduced an incremental Cash Reserve Ratio (CRR), the percentage of cash deposits that banks have to maintain with RBI, of 100 per cent for the fortnight beginning Saturday. This means banks will have to keep more money with the apex bank, while it would also suck out liquidity from the banking system.
Among the individual stock, Bharti Airtel rose over 3 per cent on the Bombay Stock Exchange after the telecom major said that its arm, International (Netherlands), has completed the acquisition of Econet Wireless' entire 4.2 per cent shareholding in Airtel Nigeria through a wholly-owned subsidiary.
In the day’s trade so-far, Sensex touched an intraday high of 26398.98 and intraday low of 26183.22, while the NSE Nifty touched intraday high of 8137.45 and intraday low of 8066.5.
The top gainers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 310.40,+3.17%), Power Grid Corporation of India Ltd. (Rs. 193.50,+2.73%), Hero MotoCorp Ltd. (Rs. 3116.50,+2.55%), Bajaj Auto Ltd. (Rs. 2660.00,+1.80%), Cipla Ltd. (Rs. 572.70,+1.66%), among others.
On the flip side, State Bank of India (Rs. 256.20,-1.82%), ICICI Bank Ltd. (Rs. 255.50,-1.67%), Wipro Ltd. (Rs. 459.90,-1.08%), Tata Consultancy Services Ltd. (Rs. 2277.50,-1.01%), Lupin Ltd. (Rs. 1496.15,-0.87%), were among top losers on the BSE.
On the sectoral front, power and oil&gas stocks emerged as top gainers, adding as much as 1.76 per cent and 1.55 per cent respectively.
The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2507, shares advanced were 1673 while 682 shares declined and 152 were unchanged.
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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At 12:10 hours, the 30-share benchmark index was trading at 26395.44, up by 79.1 points or by 0.3 per cent, and the NSE Nifty was at 8133.4, up by 19.1 points or by 0.24 per cent.
Shares of financial companies faced selling pressure on Monday after the Reserve Bank of India (RBI) hiked the cash reserve ratio over the weekend. The central bank has introduced an incremental Cash Reserve Ratio (CRR), the percentage of cash deposits that banks have to maintain with RBI, of 100 per cent for the fortnight beginning Saturday. This means banks will have to keep more money with the apex bank, while it would also suck out liquidity from the banking system.
Among the individual stock, Bharti Airtel rose over 3 per cent on the Bombay Stock Exchange after the telecom major said that its arm, International (Netherlands), has completed the acquisition of Econet Wireless' entire 4.2 per cent shareholding in Airtel Nigeria through a wholly-owned subsidiary.
In the day’s trade so-far, Sensex touched an intraday high of 26398.98 and intraday low of 26183.22, while the NSE Nifty touched intraday high of 8137.45 and intraday low of 8066.5.
The top gainers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 310.40,+3.17%), Power Grid Corporation of India Ltd. (Rs. 193.50,+2.73%), Hero MotoCorp Ltd. (Rs. 3116.50,+2.55%), Bajaj Auto Ltd. (Rs. 2660.00,+1.80%), Cipla Ltd. (Rs. 572.70,+1.66%), among others.
On the flip side, State Bank of India (Rs. 256.20,-1.82%), ICICI Bank Ltd. (Rs. 255.50,-1.67%), Wipro Ltd. (Rs. 459.90,-1.08%), Tata Consultancy Services Ltd. (Rs. 2277.50,-1.01%), Lupin Ltd. (Rs. 1496.15,-0.87%), were among top losers on the BSE.
On the sectoral front, power and oil&gas stocks emerged as top gainers, adding as much as 1.76 per cent and 1.55 per cent respectively.
The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2507, shares advanced were 1673 while 682 shares declined and 152 were unchanged.
