Mid-Session: Sensex, Nifty trade flat as weak Q4 GDP data weigh; RCom rebound nearly 6%
01/06/2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
The Indian equities continued to trade in a narrow range with negative bias in late morning deal on Thursday as investor sentiment was dented by the weak fourth quarter GDP growth which slowed to 6.1 per cent, raising a concerns over the health of the Asia’s third largest economy. Adding to it, weakness in Asian markets and flat closing of the Wall Street in the overnight trade also weighed on equity markets. At 12:15 hours, the 30-share barometer Sensex was at 31146.87, up by 1.07 points or by 0 per cent, while the NSE Nifty was at 9616, down by 5.25 points or by 0.05 per cent. In the day’s trade so far, the BSE Sensex touched intra-day high of 31213.12 and intraday low of 31070.47, while the NSE Nifty touched intraday high of 9634.65 and intraday low of 9598.45. The Indian Rupee extended previous session rally against the greenback on Thursday amid fresh selling of dollar by banks and exporters, while sustained fund inflows by foreign portfolio investors also boosted home currency’s movement. At the Interbank Foreign Exchange Market, the local currency was up by 06 paise to trade at 64.67 per dollar against a previous close of 64.73 per dollar.
Reliance Communications rebounded nearly 6 per cent after media report suggested that lenders are looking at various options, including strategic debt restructuring (SDR), to resolve the company’s debt issue. The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 514.25,+2.56%), Hindustan Unilever Ltd. (Rs. 1089.55,+2.13%), Adani Ports & Special Economic Zone Ltd. (Rs. 345.65,+1.98%), Bajaj Auto Ltd. (Rs. 2884.95,+1.44%), Mahindra & Mahindra Ltd. (Rs. 1433.20,+1.19%), among others. On the flip side, ICICI Bank Ltd. (Rs. 320.95,-1.64%), Tata Steel Ltd. (Rs. 496.95,-1.57%), Oil And Natural Gas Corporation Ltd. (Rs. 174.60,-1.38%), Axis Bank Ltd. (Rs. 507.75,-1.25%), GAIL (India) Ltd. (Rs. 411.40,-1.02%), were among the top losers on BSE.
On the sectoral front, pharma and FMCG stocks emerged as top gainers, rising as much as 1.63 per cent and 1.04 per cent, respectively. The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2659, shares advanced were 1376 while 1129 shares declined and 154 were unchanged.
01/06/2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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The Indian equities continued to trade in a narrow range with negative bias in late morning deal on Thursday as investor sentiment was dented by the weak fourth quarter GDP growth which slowed to 6.1 per cent, raising a concerns over the health of the Asia’s third largest economy. Adding to it, weakness in Asian markets and flat closing of the Wall Street in the overnight trade also weighed on equity markets. At 12:15 hours, the 30-share barometer Sensex was at 31146.87, up by 1.07 points or by 0 per cent, while the NSE Nifty was at 9616, down by 5.25 points or by 0.05 per cent. In the day’s trade so far, the BSE Sensex touched intra-day high of 31213.12 and intraday low of 31070.47, while the NSE Nifty touched intraday high of 9634.65 and intraday low of 9598.45. The Indian Rupee extended previous session rally against the greenback on Thursday amid fresh selling of dollar by banks and exporters, while sustained fund inflows by foreign portfolio investors also boosted home currency’s movement. At the Interbank Foreign Exchange Market, the local currency was up by 06 paise to trade at 64.67 per dollar against a previous close of 64.73 per dollar.
Reliance Communications rebounded nearly 6 per cent after media report suggested that lenders are looking at various options, including strategic debt restructuring (SDR), to resolve the company’s debt issue. The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 514.25,+2.56%), Hindustan Unilever Ltd. (Rs. 1089.55,+2.13%), Adani Ports & Special Economic Zone Ltd. (Rs. 345.65,+1.98%), Bajaj Auto Ltd. (Rs. 2884.95,+1.44%), Mahindra & Mahindra Ltd. (Rs. 1433.20,+1.19%), among others. On the flip side, ICICI Bank Ltd. (Rs. 320.95,-1.64%), Tata Steel Ltd. (Rs. 496.95,-1.57%), Oil And Natural Gas Corporation Ltd. (Rs. 174.60,-1.38%), Axis Bank Ltd. (Rs. 507.75,-1.25%), GAIL (India) Ltd. (Rs. 411.40,-1.02%), were among the top losers on BSE.
On the sectoral front, pharma and FMCG stocks emerged as top gainers, rising as much as 1.63 per cent and 1.04 per cent, respectively. The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2659, shares advanced were 1376 while 1129 shares declined and 154 were unchanged.
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