Post Session: Sensex, Nifty end lower as RBI maintains status quo
07/12/2016 16:17
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
The 30-share benchmark index closed trade at 26236.87, down by 155.89 points or by 0.59 per cent, and the NSE Nifty ended at 8102.05, down by 41.1 points or by 0.5 per cent.
The RBI’s monetary policy committee voted 6-0 to keep the policy repo rate unchanged at 6.25 per cent. Consequently, the reverse repo rate under the LAF remains unchanged at 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent.
The market was anticipating 25 bps cut in interest rate, while some expecting a 50 bps reduction, to combat the on-going demonetisation shock with November inflation staying in a comfortable territory of around 4 per cent.
During the day’s trade, the BSE Sensex touched intraday high of 26540.83 and intraday low of 26164.82, while the NSE Nifty touched intraday high of 8190.45 and intraday low of 8077.5.
In line with benchmark indices, the broader market also ended in negative terrain with the BSE MIDCAP closing at 12324.54, down by 19.8 points or by 0.16 per cent, while the BSE SMLCAP ended at 12101.77, down by 62.34 points or by 0.51 per cent.
The top losers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 663.95,-5.96%), Axis Bank Ltd. (Rs. 447.55,-2.00%), Tata Consultancy Services Ltd. (Rs. 2158.20,-1.47%), State Bank of India (Rs. 255.35,-1.47%), Tata Steel Ltd. (Rs. 412.50,-1.40%), among others.
On the flip side, Adani Ports & Special Economic Zone Ltd. (Rs. 277.10,+1.86%), Housing Development Finance Corporation Ltd. (Rs. 1265.45,+1.74%), Hero MotoCorp Ltd. (Rs. 3240.00,+1.31%), Tata Motors Ltd. (Rs. 445.25,+0.88%), Mahindra & Mahindra Ltd. (Rs. 1184.25,+0.77%), were among top gainers on BSE.
On the sectoral front, healthcare and realty stocks emerged as top losers, falling as much as 1.7 per cent and 1.49 per cent respectively.
The market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2935, shares advanced were 1158 while 1589 shares declined and 188 were unchanged.
07/12/2016 16:17
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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Snapping two day gaining streak, the Indian benchmark indices ended lower on Wednesday after the Reserve Bank of India surprised markets by maintaining status quo in its fifth bi-monthly monetary policy review. However, in a little respite to banks, RBI announced to withdraw the incremental CRR effective the fortnight beginning December 10, 2016.The 30-share benchmark index closed trade at 26236.87, down by 155.89 points or by 0.59 per cent, and the NSE Nifty ended at 8102.05, down by 41.1 points or by 0.5 per cent.
The RBI’s monetary policy committee voted 6-0 to keep the policy repo rate unchanged at 6.25 per cent. Consequently, the reverse repo rate under the LAF remains unchanged at 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent.
The market was anticipating 25 bps cut in interest rate, while some expecting a 50 bps reduction, to combat the on-going demonetisation shock with November inflation staying in a comfortable territory of around 4 per cent.
During the day’s trade, the BSE Sensex touched intraday high of 26540.83 and intraday low of 26164.82, while the NSE Nifty touched intraday high of 8190.45 and intraday low of 8077.5.
In line with benchmark indices, the broader market also ended in negative terrain with the BSE MIDCAP closing at 12324.54, down by 19.8 points or by 0.16 per cent, while the BSE SMLCAP ended at 12101.77, down by 62.34 points or by 0.51 per cent.
The top losers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 663.95,-5.96%), Axis Bank Ltd. (Rs. 447.55,-2.00%), Tata Consultancy Services Ltd. (Rs. 2158.20,-1.47%), State Bank of India (Rs. 255.35,-1.47%), Tata Steel Ltd. (Rs. 412.50,-1.40%), among others.
On the flip side, Adani Ports & Special Economic Zone Ltd. (Rs. 277.10,+1.86%), Housing Development Finance Corporation Ltd. (Rs. 1265.45,+1.74%), Hero MotoCorp Ltd. (Rs. 3240.00,+1.31%), Tata Motors Ltd. (Rs. 445.25,+0.88%), Mahindra & Mahindra Ltd. (Rs. 1184.25,+0.77%), were among top gainers on BSE.
On the sectoral front, healthcare and realty stocks emerged as top losers, falling as much as 1.7 per cent and 1.49 per cent respectively.
The market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2935, shares advanced were 1158 while 1589 shares declined and 188 were unchanged.
