Post Session: Sensex, Nifty close flat in a lacklustre trade; broader markets outperform
14/09/2016 16:24
NIFTY Fut : BUY ZONE
BANKNIFTY FUT : BUY ZONE
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The 30-share BSE SENSEX closed at 28372.23, up by 18.69 points or by 0.07 per cent and the NSE Nifty ended at 8726.6, up by 11 points or by 0.13 per cent.
Traders also reacted to the IIP and inflation data released after-market hours on Monday, and will eye the WPI inflation numbers set for release today. India’s industrial output contracted 2.4 per cent in July 2016, year-on-year, compared to a revised 1.9 per cent rise in June 2016, signaling renewed weakness in the manufacturing sector.
However, consumer inflation eased to a five-month low of 5.05 per cent in August 2016, falling below the government’s upper limit of its official inflation target of 4 per cent, raising hopes of an interest rate cut by the RBI in the coming months.
In the choppy trade, the BSE Sensex touched intraday high of 28416.41 and intraday low of 28259.38, while the NSE Nifty touched intraday high of 8739.85 and intraday low of 8688.9.
The top gainers of the BSE Sensex pack were Adani Ports & Special Economic Zone Ltd. (Rs. 264.95,+2.06%), State Bank of India (Rs. 257.60,+1.94%), Hero MotoCorp Ltd. (Rs. 3589.50,+1.71%), Axis Bank Ltd. (Rs. 602.30,+1.71%), NTPC Ltd. (Rs. 155.45,+1.53%), among others.
On the flip side Coal India Ltd. (Rs. 324.20,-1.97%), Tata Consultancy Services Ltd. (Rs. 2328.55,-1.29%), Oil And Natural Gas Corporation Ltd. (Rs. 248.25,-1.15%), Hindustan Unilever Ltd. (Rs. 908.60,-1.06%), Mahindra & Mahindra Ltd. (Rs. 1412.95,-0.91%), were among top losers on the BSE.
On the sectoral front, consumer durables and bankex stocks emerged as top gainers, adding as much as 1.12 per cent and 0.77 per cent respectively.
The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 3065, shares advanced were 1839 while 1011 shares declined and 215 were unchanged.
On the global front, Asian stocks ended lower for a fifth straight session tracking an overnight slump from Wall Street as investors braced for the prospect of less global monetary stimulus. The US Fed is weighing up options to hike borrowing costs at a time when central banks in Europe and Japan are questioning the need for a further boost to stimulus.
14/09/2016 16:24
NIFTY Fut : BUY ZONE
BANKNIFTY FUT : BUY ZONE
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The Indian equities ended higher with modest gain in choppy trade on Wednesday as a slump across stocks in Asia and the US overnight curbed risk taking appetite as investors braced for the prospect of less global monetary stimulus.The 30-share BSE SENSEX closed at 28372.23, up by 18.69 points or by 0.07 per cent and the NSE Nifty ended at 8726.6, up by 11 points or by 0.13 per cent.
Traders also reacted to the IIP and inflation data released after-market hours on Monday, and will eye the WPI inflation numbers set for release today. India’s industrial output contracted 2.4 per cent in July 2016, year-on-year, compared to a revised 1.9 per cent rise in June 2016, signaling renewed weakness in the manufacturing sector.
However, consumer inflation eased to a five-month low of 5.05 per cent in August 2016, falling below the government’s upper limit of its official inflation target of 4 per cent, raising hopes of an interest rate cut by the RBI in the coming months.
In the choppy trade, the BSE Sensex touched intraday high of 28416.41 and intraday low of 28259.38, while the NSE Nifty touched intraday high of 8739.85 and intraday low of 8688.9.
The top gainers of the BSE Sensex pack were Adani Ports & Special Economic Zone Ltd. (Rs. 264.95,+2.06%), State Bank of India (Rs. 257.60,+1.94%), Hero MotoCorp Ltd. (Rs. 3589.50,+1.71%), Axis Bank Ltd. (Rs. 602.30,+1.71%), NTPC Ltd. (Rs. 155.45,+1.53%), among others.
On the flip side Coal India Ltd. (Rs. 324.20,-1.97%), Tata Consultancy Services Ltd. (Rs. 2328.55,-1.29%), Oil And Natural Gas Corporation Ltd. (Rs. 248.25,-1.15%), Hindustan Unilever Ltd. (Rs. 908.60,-1.06%), Mahindra & Mahindra Ltd. (Rs. 1412.95,-0.91%), were among top losers on the BSE.
On the sectoral front, consumer durables and bankex stocks emerged as top gainers, adding as much as 1.12 per cent and 0.77 per cent respectively.
The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 3065, shares advanced were 1839 while 1011 shares declined and 215 were unchanged.
On the global front, Asian stocks ended lower for a fifth straight session tracking an overnight slump from Wall Street as investors braced for the prospect of less global monetary stimulus. The US Fed is weighing up options to hike borrowing costs at a time when central banks in Europe and Japan are questioning the need for a further boost to stimulus.
