Post Session- Sensex ends tad lower as cautious sentiment weighs:16/11/2016 16:00
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
Indian equity benchmarks erased earlier gains to end on a flattish note, with a negative bias on Wednesday as caution continued to weigh on sentiment among Dalal Street investors as they seek a clearer picture of the impact of the government’s demonetisation move on Asia’s third biggest economy, curbing risk taking appetite.
The 30—share BSE SENSEX closed at 26,298.69, down by 5.94 points or by 0.02 per cent and the NSE Nifty ended at 8,111.6, up by 3.15 points or by 0.04 per cent. The BSE Sensex touched intraday high of 26,621.4 and intraday low of 26,239.21. The NSE Nifty touched intraday high of 8,210.05 and intraday low of 8,089.4.
While a drop in consumer inflation to a 14-month low at 4.2 per cent in October 2016 raised hopes of an interest rate cut by the RBI in the near-term, some analysts warned that a looming US Fed interest rate hike in December could push the Indian central bank to refrain from further softening of monetary policy until February, keeping traders on the backfoot.
The top losers of the BSE Sensex pack were Cipla Ltd. (down 3.19 per cent), ITC Ltd. (down 2.94 per cent), Dr. Reddy's Laboratories Ltd. (down 2.89 per cent), GAIL (India) Ltd. (down 2.42 per cent) and Lupin Ltd. (down 2.27 per cent).
Consumer Durables and Health Care declined 1.97 per cent and 1.34 per cent, respectively.
The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 2895, shares advanced were 1125 while 1606 shares declined and 164 were unchanged.
Asian shares ended mixed as investors braced themselves for US President Donald Trump’s fiscal stimulus plan which could spur inflation, forcing faster Fed rate hikes. Shanghai Composite ended tad lower, Hang Seng declined on a drop in property shares but Nikkei 225 surged over 1 per cent.
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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The 30—share BSE SENSEX closed at 26,298.69, down by 5.94 points or by 0.02 per cent and the NSE Nifty ended at 8,111.6, up by 3.15 points or by 0.04 per cent. The BSE Sensex touched intraday high of 26,621.4 and intraday low of 26,239.21. The NSE Nifty touched intraday high of 8,210.05 and intraday low of 8,089.4.
While a drop in consumer inflation to a 14-month low at 4.2 per cent in October 2016 raised hopes of an interest rate cut by the RBI in the near-term, some analysts warned that a looming US Fed interest rate hike in December could push the Indian central bank to refrain from further softening of monetary policy until February, keeping traders on the backfoot.
The top losers of the BSE Sensex pack were Cipla Ltd. (down 3.19 per cent), ITC Ltd. (down 2.94 per cent), Dr. Reddy's Laboratories Ltd. (down 2.89 per cent), GAIL (India) Ltd. (down 2.42 per cent) and Lupin Ltd. (down 2.27 per cent).
Consumer Durables and Health Care declined 1.97 per cent and 1.34 per cent, respectively.
The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 2895, shares advanced were 1125 while 1606 shares declined and 164 were unchanged.
Asian shares ended mixed as investors braced themselves for US President Donald Trump’s fiscal stimulus plan which could spur inflation, forcing faster Fed rate hikes. Shanghai Composite ended tad lower, Hang Seng declined on a drop in property shares but Nikkei 225 surged over 1 per cent.
