Post Session: Sensex extends loss for fourth day to end below 27,700; GST awaited
03/08/2016 16:17
The 30-share BSE SENSEX closed at 27697.51, down by 284.2 points or by 1.02 per cent and the NSE Nifty ended at 8544.85, down by 78.05 points or by 0.91 per cent.
However, Dalal Street received support from solid Indian economic data as core sector growth accelerated to 5.2 per cent in June 2016 year-on-year, from 2.8 per cent in May 2016.
On the Sectoral front, all the indices ended in red, except metal stocks, with realty and FMCG stocks emerging as top losers, falling 2.15 per cent and 2.04 per cent, respectively.
The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3018, shares advanced were 987 while 1882 shares declined and 149 were unchanged.
On the global front, Asian shares ended mostly lower, barring China’s Shanghai Composite, as oil’s renewed slide to below USD 40 per barrel signaled alarm bells over the health of the world economy while Japan’s stimulus package left investors disappointed. Hang Seng was trading deep in the red while Nikkei 225 declined as traders gave thumbs down to Japanese government’s plan to boost spending by 4.6 trillion yen in the current fiscal year and as a stronger yen curbed the lure for exporter stocks.
03/08/2016 16:17
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Continuing its losing spree, the Indian equity benchmarks ended lower on Wednesday, led by sharp sell-off in broader market, as investors resorted to a cautious approach ahead of the outcome of the crucial GST bill debate in the Rajya Sabha with opposition parties likely to give their nod, that could pave the way for the country’s biggest fiscal reform yet. Further, traders were err on the side of caution as a worsening sell-off in oil renewed concerns over the health of the global economy, soured risk taking appetite.The 30-share BSE SENSEX closed at 27697.51, down by 284.2 points or by 1.02 per cent and the NSE Nifty ended at 8544.85, down by 78.05 points or by 0.91 per cent.
However, Dalal Street received support from solid Indian economic data as core sector growth accelerated to 5.2 per cent in June 2016 year-on-year, from 2.8 per cent in May 2016.
On the Sectoral front, all the indices ended in red, except metal stocks, with realty and FMCG stocks emerging as top losers, falling 2.15 per cent and 2.04 per cent, respectively.
The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3018, shares advanced were 987 while 1882 shares declined and 149 were unchanged.
On the global front, Asian shares ended mostly lower, barring China’s Shanghai Composite, as oil’s renewed slide to below USD 40 per barrel signaled alarm bells over the health of the world economy while Japan’s stimulus package left investors disappointed. Hang Seng was trading deep in the red while Nikkei 225 declined as traders gave thumbs down to Japanese government’s plan to boost spending by 4.6 trillion yen in the current fiscal year and as a stronger yen curbed the lure for exporter stocks.
