Mid-Session: Sensex, Nifty stay under selling pressure; Tata Steel up 4%
08/08/2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
The Indian equities continued to trade in the negative terrain in late morning deal on Tuesday as investors pressed sell button amid concerns over valuations. Adding to it, sustained foreign outflows and mixed earnings report also weighed on market sentiment. In line with the benchmark indices, the broader markets were also reeling under selling pressure, with MIDCAP and SMLCAP indices falling as much as 0.66 per cent and 0.76 per cent, respectively. Bharti Infratel tumbled nearly 5 per cent amid surge in volume trade. According to data available with exchange, as much as 858.06 lakh shares have changed hand on the counter as against two week average of 0.92 lakh shares.
At 12:17 hours, the 30-share benchmark index was trading at 32088.06, down by 185.61 points or by 0.58 per cent, and the NSE Nifty was at 10002.7, down by 54.7 points or by 0.54 per cent.
In the day’s trade so-far, Sensex touched intraday high of 32354.77 and intraday low of 31915.2, while the NSE Nifty touched intraday high of 10083.8 and intraday low of 9947.
Hindalco Industries jumped over 7 per cent, hitting fresh 52-week high, on the Bombay stock Exchange after its overseas arm, Novelis Inc reported a four-fold jump in net income at USD 101 million for the June quarter of FY18, compared to USD 24 million in the corresponding period of previous year.
Tata Steel continued gaining streak on Tuesday and surged nearly 4 per cent, hitting fresh 52-week high, on the Bombay stock Exchange after the steel maker reported a consolidated net profit of Rs 921 crore in the quarter ended June 30, 2017, compared to net loss of Rs 3,183 crore in the corresponding period last year.
The top losers of the BSE Sensex pack were Coal India Ltd. (Rs. 244.25,-2.81%), State Bank of India (Rs. 305.10,-1.93%), Dr. Reddy's Laboratories Ltd. (Rs. 2172.00,-1.73%), ITC Ltd. (Rs. 276.20,-1.36%), NTPC Ltd. (Rs. 172.10,-1.29%), among others.
On the flip side, Tata Steel Ltd. (Rs. 622.95,+3.83%), Bajaj Auto Ltd. (Rs. 2917.50,+0.95%), Hindustan Unilever Ltd. (Rs. 1195.00,+0.91%), Cipla Ltd. (Rs. 568.50,+0.59%), Mahindra & Mahindra Ltd. (Rs. 1406.45,+0.51%), were among top gainers on BSE.
On the sectoral front, all the indices were bleeding in red, barring metal stocks, while realty and oil&gas stocks emerged as top losers on BSE, falling as much as 1.85 per cent and 1.63 per cent respectively.
The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2571, shares advanced were 642, while 1817 shares declined and 112 were unchanged
08/08/2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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The Indian equities continued to trade in the negative terrain in late morning deal on Tuesday as investors pressed sell button amid concerns over valuations. Adding to it, sustained foreign outflows and mixed earnings report also weighed on market sentiment. In line with the benchmark indices, the broader markets were also reeling under selling pressure, with MIDCAP and SMLCAP indices falling as much as 0.66 per cent and 0.76 per cent, respectively. Bharti Infratel tumbled nearly 5 per cent amid surge in volume trade. According to data available with exchange, as much as 858.06 lakh shares have changed hand on the counter as against two week average of 0.92 lakh shares.
At 12:17 hours, the 30-share benchmark index was trading at 32088.06, down by 185.61 points or by 0.58 per cent, and the NSE Nifty was at 10002.7, down by 54.7 points or by 0.54 per cent.
In the day’s trade so-far, Sensex touched intraday high of 32354.77 and intraday low of 31915.2, while the NSE Nifty touched intraday high of 10083.8 and intraday low of 9947.
Hindalco Industries jumped over 7 per cent, hitting fresh 52-week high, on the Bombay stock Exchange after its overseas arm, Novelis Inc reported a four-fold jump in net income at USD 101 million for the June quarter of FY18, compared to USD 24 million in the corresponding period of previous year.
Tata Steel continued gaining streak on Tuesday and surged nearly 4 per cent, hitting fresh 52-week high, on the Bombay stock Exchange after the steel maker reported a consolidated net profit of Rs 921 crore in the quarter ended June 30, 2017, compared to net loss of Rs 3,183 crore in the corresponding period last year.
The top losers of the BSE Sensex pack were Coal India Ltd. (Rs. 244.25,-2.81%), State Bank of India (Rs. 305.10,-1.93%), Dr. Reddy's Laboratories Ltd. (Rs. 2172.00,-1.73%), ITC Ltd. (Rs. 276.20,-1.36%), NTPC Ltd. (Rs. 172.10,-1.29%), among others.
On the flip side, Tata Steel Ltd. (Rs. 622.95,+3.83%), Bajaj Auto Ltd. (Rs. 2917.50,+0.95%), Hindustan Unilever Ltd. (Rs. 1195.00,+0.91%), Cipla Ltd. (Rs. 568.50,+0.59%), Mahindra & Mahindra Ltd. (Rs. 1406.45,+0.51%), were among top gainers on BSE.
On the sectoral front, all the indices were bleeding in red, barring metal stocks, while realty and oil&gas stocks emerged as top losers on BSE, falling as much as 1.85 per cent and 1.63 per cent respectively.
The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2571, shares advanced were 642, while 1817 shares declined and 112 were unchanged
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