Sensex pares early gains; Nifty breaches 8700
14/09/2016 10:31
NIFTY Fut : SELL ZONE
BANKNIFTY FUT : SELL ZONE
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At 10:25 hours, the 30-share benchmark index was trading at 28315.64 down by 37.9 points or by 0.13 per cent, while the NSE Nifty was at 8699.2 down by 16.4 points or by 0.19 per cent.
Traders also reacted to the IIP and inflation data released after-market hours on Monday, and will further keep an eye on 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.
Among the sectors, metal and IT indices losses the sheen, declining 1.16 per cent and 0.32 per cent respectively.
On the global front, Asian peers were trading mixed tracking an overnight slump from Wall Street as investors braced for the prospect of less global monetary stimulus.
14/09/2016 10:31
NIFTY Fut : SELL ZONE
BANKNIFTY FUT : SELL ZONE
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Paring all the early gains, the key domestic benchmark indices slipped into negative terrain in the morning trading session amid weakness among global peers after falling crude oil prices and continuous worries about the US Federal Reserve's plans for raising interest rates weighed broadly.At 10:25 hours, the 30-share benchmark index was trading at 28315.64 down by 37.9 points or by 0.13 per cent, while the NSE Nifty was at 8699.2 down by 16.4 points or by 0.19 per cent.
Traders also reacted to the IIP and inflation data released after-market hours on Monday, and will further keep an eye on 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.
Among the sectors, metal and IT indices losses the sheen, declining 1.16 per cent and 0.32 per cent respectively.
On the global front, Asian peers were trading mixed tracking an overnight slump from Wall Street as investors braced for the prospect of less global monetary stimulus.
