Post Session: US Fed rate hike fears spook D-St; Sensex tumbles 440 pts to end below 28K
13/10/2016 16:20
Free Intraday Tips : Join Our Whatsapp No : 9841986753
The Indian equities witnessed hefty selling on Thursday as investors trimmed their bets after China’s exports fell the most in seven months in September, while speculation of a possible rate hike this year further curbed risk taking appetite. Subdued macroeconomic data too weighed on market sentiments, while investors also remained wary ahead of monthly inflation data based on consumer price index (CPI) for September due later in the day and wholesale price index (WPI) due on Friday.
The 30-share BSE SENSEX closed at 27643.11, down by 439.23 points or by 1.56 per cent, and the NSE Nifty ended at 8573.35, down by 135.45 points or by 1.56 per cent.
FOMC minutes released on Wednesday showed that several policymakers called for rate tightening “relatively soon” with improved economic data and fears over an acceleration in inflation also bolstering the case to raise borrowing costs.
Back home, IT stocks witnessed some buying as the country’s biggest software exporter, TCS, will report its September quarter earnings post market hour today. TCS may report a sequential drop of 0.9 per cent in its net profit to Rs 6260 crore in Q2 FY17.
During the day’s trade, the BSE Sensex touched intraday high of 28042.62 and intraday low of 27563.84, while the NSE Nifty touched intraday high of 8681.55 and intraday low of 8541.35.
The top losers of the BSE Sensex pack were Adani Ports & Special Economic Zone Ltd. (Rs. 251.65,-4.68%), Housing Development Finance Corporation Ltd. (Rs. 1338.45,-3.83%), ICICI Bank Ltd. (Rs. 241.20,-3.56%), Reliance Industries Ltd. (Rs. 1057.70,-3.49%), Tata Motors Ltd. (Rs. 544.30,-3.17%), among others.
On the flip side, Infosys Ltd. (Rs. 1052.05,+2.19%), Oil And Natural Gas Corporation Ltd. (Rs. 272.05,+1.70%), Maruti Suzuki India Ltd. (Rs. 5740.30,+0.49%), Cipla Ltd. (Rs. 581.85,+0.22%), Hero MotoCorp Ltd. (Rs. 3493.50,+0.11%), were among top gainers on the BSE.
On the sectoral front, all the indices ended bleeding in red, barring IT stocks, while rate sensitives, banking and realty stocks were among top losers on BSE, falling as much as 2.19 per cent and 2.17 per cent respectively.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3131, shares advanced were 1004 while 2004 shares declined and 123 were unchanged.
On the global front, most of the Asian stocks ended in negative terrain as a stronger greenback hit commodity producers while the Fed indicated that a rate hike was probably imminent. Shanghai Composite ended tad higher even as China’s exports fell the most in seven months, down 10 per cent in September 2016 from a year ago. Hang Seng tanked over 1.5 per cent and Nikkei 225 fell 0.4 despite a weaker yen.
Powered by : Dion Global Solution
