Mid-Session: Markets tad lower on weak data, global cues; Infy, RIL down 1%
16/08/2016 12:30
NIFTY Fut : Trend : SELL ZONE
Click Here & Register To Get 2 days Trial Tips
Free Intraday Tips : Join Our Whatsapp No : 9841986753
The Indian equities continued to trade lower in late morning deal on Tuesday, led by losses in index heavyweights such as Infosys, RIL, Tata Motors, HDFC, Axis Bank and Sun Pharma, tracking a lackluster trend in markets across Asia while traders return to their desks after the Independence Day holiday. Investors also weighed mixed macro-economic data with industrial output growth gaining steam, while consumer inflation shooting beyond the official tolerance level of 6 per cent, leaving little room for near-term monetary easing.
At 12:20 PM, the Bombay Stock Exchange bellwether Sensex was at 27979.1, down by 173.3 points or by 0.62 per cent, and the NSE Nifty was at 8611, down by 61.15 points or by 0.71 per cent.
India’s industrial output climbed 2.1 per cent in June 2016 from the same month a year ago, compared to an annual 1.2 per cent gain in May 2016. Further, retail inflation accelerated to a two-year high of 6.07 per cent in July 2016 from 5.77 per cent in June 2016. The focus this week will be on the July wholesale inflation data, while traders will keep a close eye on the progress of the monsoon rains.
On the corporate front, shares of IT bellwether Infosys tumbled over 1 per cent on the Bombay Stock Exchange after the after the copany’s major client Royal Bank of Scotland (RBS) deferred a plan to set up a separate and list a new UK standalone bank, for which IT major was a key technology partner.
On the sectoral front, consumer durables and realty stocks were among top losers on BSE, falling as much as 1.46 per cent and 1.34 per cent respectively.
16/08/2016 12:30
NIFTY Fut : Trend : SELL ZONE
Free Intraday Tips : Join Our Whatsapp No : 9841986753
The Indian equities continued to trade lower in late morning deal on Tuesday, led by losses in index heavyweights such as Infosys, RIL, Tata Motors, HDFC, Axis Bank and Sun Pharma, tracking a lackluster trend in markets across Asia while traders return to their desks after the Independence Day holiday. Investors also weighed mixed macro-economic data with industrial output growth gaining steam, while consumer inflation shooting beyond the official tolerance level of 6 per cent, leaving little room for near-term monetary easing.
At 12:20 PM, the Bombay Stock Exchange bellwether Sensex was at 27979.1, down by 173.3 points or by 0.62 per cent, and the NSE Nifty was at 8611, down by 61.15 points or by 0.71 per cent.
India’s industrial output climbed 2.1 per cent in June 2016 from the same month a year ago, compared to an annual 1.2 per cent gain in May 2016. Further, retail inflation accelerated to a two-year high of 6.07 per cent in July 2016 from 5.77 per cent in June 2016. The focus this week will be on the July wholesale inflation data, while traders will keep a close eye on the progress of the monsoon rains.
On the corporate front, shares of IT bellwether Infosys tumbled over 1 per cent on the Bombay Stock Exchange after the after the copany’s major client Royal Bank of Scotland (RBS) deferred a plan to set up a separate and list a new UK standalone bank, for which IT major was a key technology partner.
On the sectoral front, consumer durables and realty stocks were among top losers on BSE, falling as much as 1.46 per cent and 1.34 per cent respectively.
