Post Session; Sensex sinks 338 pts on Trump win, black money crackdown:09/11/2016 16:14
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
The key domestic benchmark indices ended bleeding in red, paring some of early gains, on Wednesday after Donald Trump emerged as the winner of the US presidential elections to become the 45th president of the United States. Selling across index heavyweights such as ICICI Bank, ITC, Infosys, HDFC and Reliance Industries, also weighed on market sentiment.
The 30-share benchmark index closed trading at 27252.53, down by 338.61 points or by 1.23 per cent, and the NSE Nifty ended at 8432, down by 111.55 points or by 1.31 per cent.
The investors also reacted to the government’s surprise move of withdrawing currency notes of Rs 1,000 and Rs 500 as it seeks to crackdown on black money. The move, effective from Tuesday midnight, viewed as a positive one for the longer-term, but could adversely affect short-term consumption in Asia’s third biggest economy, making Dalal Street traders wary.
In the day’s trade so-far, Sensex touched an intraday high of 27397.38 and intraday low of 25902.45, while the NSE Nifty touched intraday high of 8476.2 and intraday low of 8002.25.
In line with benchmark indices, the broader market also ended bleeding in red with the BSE MIDCAP closing at 12721.66, down by 239.76 points or by 1.85 per cent, while the BSE SMLCAP settled at 12704.1, down by 347.66 points or by 2.66 per cent.
The top losers of the BSE Sensex pack were Tata Consultancy Services Ltd. (Rs. 2171.05,-4.93%), Maruti Suzuki India Ltd. (Rs. 5396.70,-4.68%), Hero MotoCorp Ltd. (Rs. 3235.70,-3.97%), Mahindra & Mahindra Ltd. (Rs. 1337.15,-3.43%), Bajaj Auto Ltd. (Rs. 2781.60,-2.93%), among others.
Meanwhile, Dr. Reddy's Laboratories Ltd. (Rs. 3271.70,+5.04%), Sun Pharmaceutical Industries Ltd. (Rs. 661.10,+4.07%), State Bank of India (Rs. 259.75,+2.83%), Power Grid Corporation of India Ltd. (Rs. 180.45,+1.95%), GAIL (India) Ltd. (Rs. 445.15,+1.44%), were among top gainers on BSE.
On the sectoral front, realty and consumer durable stocks emerged as top losers, falling as much as 10.23 per cent and 4.18 per cent respectively.
The market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3001, shares advanced were 655 while 2238 shares declined and 108 were unchanged.
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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The key domestic benchmark indices ended bleeding in red, paring some of early gains, on Wednesday after Donald Trump emerged as the winner of the US presidential elections to become the 45th president of the United States. Selling across index heavyweights such as ICICI Bank, ITC, Infosys, HDFC and Reliance Industries, also weighed on market sentiment.
The 30-share benchmark index closed trading at 27252.53, down by 338.61 points or by 1.23 per cent, and the NSE Nifty ended at 8432, down by 111.55 points or by 1.31 per cent.
The investors also reacted to the government’s surprise move of withdrawing currency notes of Rs 1,000 and Rs 500 as it seeks to crackdown on black money. The move, effective from Tuesday midnight, viewed as a positive one for the longer-term, but could adversely affect short-term consumption in Asia’s third biggest economy, making Dalal Street traders wary.
In the day’s trade so-far, Sensex touched an intraday high of 27397.38 and intraday low of 25902.45, while the NSE Nifty touched intraday high of 8476.2 and intraday low of 8002.25.
In line with benchmark indices, the broader market also ended bleeding in red with the BSE MIDCAP closing at 12721.66, down by 239.76 points or by 1.85 per cent, while the BSE SMLCAP settled at 12704.1, down by 347.66 points or by 2.66 per cent.
The top losers of the BSE Sensex pack were Tata Consultancy Services Ltd. (Rs. 2171.05,-4.93%), Maruti Suzuki India Ltd. (Rs. 5396.70,-4.68%), Hero MotoCorp Ltd. (Rs. 3235.70,-3.97%), Mahindra & Mahindra Ltd. (Rs. 1337.15,-3.43%), Bajaj Auto Ltd. (Rs. 2781.60,-2.93%), among others.
Meanwhile, Dr. Reddy's Laboratories Ltd. (Rs. 3271.70,+5.04%), Sun Pharmaceutical Industries Ltd. (Rs. 661.10,+4.07%), State Bank of India (Rs. 259.75,+2.83%), Power Grid Corporation of India Ltd. (Rs. 180.45,+1.95%), GAIL (India) Ltd. (Rs. 445.15,+1.44%), were among top gainers on BSE.
On the sectoral front, realty and consumer durable stocks emerged as top losers, falling as much as 10.23 per cent and 4.18 per cent respectively.
The market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3001, shares advanced were 655 while 2238 shares declined and 108 were unchanged.
