Mid-Session: Nifty slips below 10,000 on profit booking; Biocon down 9%
04/08/2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
The Indian equities were trading in the negative terrain in the late morning deal on Friday as investors resorted to profit booking after the Reserve Bank failed to meet market expectations on rate cut and policy stance. The RBI on Wednesday slashed repo rate by 25 bps to 6 per cent, which fell short of market expectations of 50 bps rate cut. Adding to it, weak manufacturing and services PMI data reported earlier this week also dented market sentiment.
At 12:20 hours, the 30-share benchmark index was trading at 32140.49, down by 97.39 points or by 0.3 per cent, and the NSE Nifty was at 9999.5, down by 14.15 points or by 0.14 per cent.
In the day’s trade so-far, Sensex touched intraday high of 32252.45 and intraday low of 32107.99, while the NSE Nifty touched intraday high of 10026.8 and intraday low of 9988.35.
Biocon tumbled over 9 per after the US drug regulator USFDA issued 10 observations on the company’s Bangalore plant.
Indian Oil Corporation jumped over 5 per cent even after the state-run oil marketing company reported 45 per cent year on year (YoY) decline in net profit at Rs 4,549 crore in June quarter compared to Rs 8,269 crore in the same quarter a year ago, albeit higher than analyst estimates.
CEAT tanked over 8 per cent after tyre maker reported a 98.6 per cent year-on-year decline in its consolidated net profit at Rs 1.38 crore for the first quarter ended June 30, 2017, due to destocking by trade partners ahead of the GST rollout and higher expenses.
Titan Company rallied over 10 per cent, hitting 52-week high, after the company’s consolidated net profit nearly doubles on year-on-year basis to Rs 238 crore for the first quarter ended June 30, 2017.
04/08/2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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The Indian equities were trading in the negative terrain in the late morning deal on Friday as investors resorted to profit booking after the Reserve Bank failed to meet market expectations on rate cut and policy stance. The RBI on Wednesday slashed repo rate by 25 bps to 6 per cent, which fell short of market expectations of 50 bps rate cut. Adding to it, weak manufacturing and services PMI data reported earlier this week also dented market sentiment.
At 12:20 hours, the 30-share benchmark index was trading at 32140.49, down by 97.39 points or by 0.3 per cent, and the NSE Nifty was at 9999.5, down by 14.15 points or by 0.14 per cent.
In the day’s trade so-far, Sensex touched intraday high of 32252.45 and intraday low of 32107.99, while the NSE Nifty touched intraday high of 10026.8 and intraday low of 9988.35.
Biocon tumbled over 9 per after the US drug regulator USFDA issued 10 observations on the company’s Bangalore plant.
Indian Oil Corporation jumped over 5 per cent even after the state-run oil marketing company reported 45 per cent year on year (YoY) decline in net profit at Rs 4,549 crore in June quarter compared to Rs 8,269 crore in the same quarter a year ago, albeit higher than analyst estimates.
CEAT tanked over 8 per cent after tyre maker reported a 98.6 per cent year-on-year decline in its consolidated net profit at Rs 1.38 crore for the first quarter ended June 30, 2017, due to destocking by trade partners ahead of the GST rollout and higher expenses.
Titan Company rallied over 10 per cent, hitting 52-week high, after the company’s consolidated net profit nearly doubles on year-on-year basis to Rs 238 crore for the first quarter ended June 30, 2017.
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