Mid-Session: Sensex, Nifty slip into red; consumer durables, realty stocks weigh
19/05/2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
Reversing early morning record gains, Indian equity benchmarks slipped into the negative territory during the noon session on Friday as selling pressure was witnessed mainly in the consumer durables and realty sector stocks amid mixed cues from fellow Asian peers. At 12:19 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 30,354.39 down by 80.4 points or 0.26 per cent while the NSE Nifty was at 9,402.85 down by 26.6 points or 0.28 per cent. However, market sentiment remained buoyant on the back of the GST Council's finalization of tax rates for bulk of the items except 6 categories.
Meanwhile, shares of ITC rose nearly 3.69 per cent as the GST rates sprung no surprises to the Street. Major show spoilers were Maruti Suzuki India Ltd. (Rs. 6715.20,-1.80%), Tata Consultancy Services Ltd. (Rs. 2490.00,-1.74%), Mahindra & Mahindra Ltd. (Rs. 1330.50,-1.54%), Housing Development Finance Corporation Ltd. (Rs. 1518.10,-1.37%), GAIL (India) Ltd. (Rs. 399.80,-1.32%), among others. The top gainers of the BSE Sensex pack were ITC Ltd. (Rs. 288.30,+3.69%), Hindustan Unilever Ltd. (Rs. 1004.00,+1.68%), State Bank of India (Rs. 306.50,+1.17%), Bharti Airtel Ltd. (Rs. 373.80,+0.81%), Cipla Ltd. (Rs. 562.50,+0.69%), among others.
The market breadth, indicating the overall strength of the market, was weak. On BSE, out of the total 2735 shares traded, 834 advanced while 1745 shares declined and 156 remained unchanged. On the global front, Asian markets were mixed while the greenback held most of the gains as some risk appetite returned on the back of strong economic data.
19/05/2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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Reversing early morning record gains, Indian equity benchmarks slipped into the negative territory during the noon session on Friday as selling pressure was witnessed mainly in the consumer durables and realty sector stocks amid mixed cues from fellow Asian peers. At 12:19 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 30,354.39 down by 80.4 points or 0.26 per cent while the NSE Nifty was at 9,402.85 down by 26.6 points or 0.28 per cent. However, market sentiment remained buoyant on the back of the GST Council's finalization of tax rates for bulk of the items except 6 categories.
Meanwhile, shares of ITC rose nearly 3.69 per cent as the GST rates sprung no surprises to the Street. Major show spoilers were Maruti Suzuki India Ltd. (Rs. 6715.20,-1.80%), Tata Consultancy Services Ltd. (Rs. 2490.00,-1.74%), Mahindra & Mahindra Ltd. (Rs. 1330.50,-1.54%), Housing Development Finance Corporation Ltd. (Rs. 1518.10,-1.37%), GAIL (India) Ltd. (Rs. 399.80,-1.32%), among others. The top gainers of the BSE Sensex pack were ITC Ltd. (Rs. 288.30,+3.69%), Hindustan Unilever Ltd. (Rs. 1004.00,+1.68%), State Bank of India (Rs. 306.50,+1.17%), Bharti Airtel Ltd. (Rs. 373.80,+0.81%), Cipla Ltd. (Rs. 562.50,+0.69%), among others.
The market breadth, indicating the overall strength of the market, was weak. On BSE, out of the total 2735 shares traded, 834 advanced while 1745 shares declined and 156 remained unchanged. On the global front, Asian markets were mixed while the greenback held most of the gains as some risk appetite returned on the back of strong economic data.
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