Mid- Session: Sensex, Nifty subdued; Power stocks fall 02/05/2017

Mid- Session: Sensex, Nifty subdued; Power stocks fall
02/05/2017

NIFTY FUT  TREND             : SELL ZONE
BANKNIFTY FUT  TREND  : SELL ZONE
                                        

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The key domestic benchmark indices pared all the early gains and slipped into negative territory during the noon trading session as earnings reaction weighed on the market sentiments. At 12:30 hours, the 30-share benchmark index was trading at 29908.09 down by 10.31 points or by 0.03 per cent, while the NSE Nifty was at 9300.3 down by 3.75 points or by 0.04 per cent. In the volatile trade so-far, Sensex touched an intraday high of 30069.24 and an intraday low of 29804.12, while the NSE Nifty touched intraday high of 9352.55 and intraday low of 9269.9. Investors failed to take cues from Manufacturing PMI which showed that manufacturing conditions in India improved for the fourth straight month in April, Nikkei IHS Markit said. The upturn was signalled by the headline Nikkei India Manufacturing Purchasing Managers' Index matching March's reading of 52.5. Slower increases in output, stocks of purchases and employment were offset by stronger growth of new orders and lengthening delivery times.

The top losers of the BSE Sensex pack were Lupin Ltd. (Rs. 1313.00,-1.85%), Tata Motors Ltd. (Rs. 450.40,-1.62%), Bharti Airtel Ltd. (Rs. 349.00,-1.58%), Reliance Industries Ltd. (Rs. 1376.95,-1.28%), Sun Pharmaceutical Industries Ltd. (Rs. 634.50,-1.25%), among others. However, some buying was seen in Oil And Natural Gas Corporation Ltd. (Rs. 192.85,+3.52%), Maruti Suzuki India Ltd. (Rs. 6680.00,+2.37%), Housing Development Finance Corporation Ltd. (Rs. 1566.20,+1.90%), Adani Ports & Special Economic Zone Ltd. (Rs. 331.65,+1.45%), Hero MotoCorp Ltd. (Rs. 3353.00,+1.28%), among others.

Among the sectors, Power index was at 2315.5 down by -14.25 points or by -0.61%. JSW Energy Ltd. (Rs. 62.75,-6.41%), Adani Power Ltd. (Rs. 32.50,-1.37%), Reliance Power Ltd. (Rs. 48.30,-1.33%), NTPC Ltd. (Rs. 162.45,-1.19%), Power Grid Corporation of India Ltd. (Rs. 205.15,-1.18%),. On the flip side, Realty index was at 1960.57 up by 36.65 points or by 1.9%. Sobha Ltd. (Rs. 398.65,+7.26%), Godrej Industries Ltd. (Rs. 494.00,+6.47%), Indiabulls Real Estate Ltd. (Rs. 154.70,+3.31%), Prestige Estates Projects Ltd. (Rs. 242.85,+3.06%), DLF Ltd. (Rs. 189.35,+1.80%),. The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2904 , shares advanced were 1249 while 1490 shares declined and 165 were unchanged.

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Mid- Session: Sensex, Nifty trade flat; Welspun India down 10% 24/08/2016 12:22

Mid- Session: Sensex, Nifty trade flat; Welspun India down 10%
24/08/2016 12:22
NIFTY Fut TREND : BUY ZONE
BANKNIFTY Fut   : BUY ZONE

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The Indian equities continued to trade higher with modest gain in late morning deal on Wednesday, led by gains in the index heavyweights such as Maruti Suzuki, Cipla, NTPC, Sun Pharmaceutical Industries, Infosys, IOC and HPCL. However, the caution prevailed in market as investors across the globe awaited Fed Chair Janet Yellen’s speech on Friday at Jackson Hole, in which she may offer some cues over the timing of the next US interest rate hike, curbing risk taking appetite.

At 12:10 PM, the Bombay Stock Exchange bellwether Sensex was at 27947.74, down by 37.8 points or by 0.14 per cent, and the NSE Nifty was at 8622.95, down by 6.2 points or by 0.07 per cent.

On the corporate front, Welspun India continued their losing streak for the third straight session on Wednesday and locked in lower circuit on the Bombay Stock Exchange after Bloomberg reported that the company is ending all business with the textile manufacturers, after saying the supplier was sending it phony Egyptian cotton sheets.

Among others, Engineers India jumped 6 per cent on the Bombay Stock Exchange after the state-run company reported 50 per cent growth in net profit at Rs 80 crore for the quarter ended June 30, 2016 corresponding to Rs 53.51 crore in the year ago period.

On the sectoral front, oil and gas and healthcare stocks were among top gainers on BSE, adding as much as 1.21 per cent and 1.17 per cent respectively.