Mid-Session: Sensex, Nifty trader lower on weak global cues; FMCG, auto stocks drag 03/03/2017 12:35

Mid-Session: Sensex, Nifty trader lower on weak global cues; FMCG, auto stocks drag
03/03/2017 12:35
NIFTY FUT  TREND             : SELL ZONE
BANKNIFTY FUT  TREND  : SELL ZONE
                                        
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The Indian equities continued to trade lower in late morning deal on Friday, weighed down by losses in FMCG and auto stocks, tracking weak cues from fellow Asian peers. The investors resorted to profit booking ahead of US Fed Chair Janet Yellen’s speech later in the day who may give hints of possible Fed rate hike later this month. Reliance Industries hit fresh 52-week high after Mukesh Ambani-led promoter group entities announced to restructure their shareholding in the company through an inter-se transfer of shares.

At 12:20 hour, the Bombay Stock Exchange bellwether Sensex was trading at 28743.93, down by 95.86 points or by 0.33 per cent, and the NSE Nifty was at 8869.85, down by 29.9 points or by 0.34 per cent.

During the day’s trade so far, the BSE Sensex touched an intraday high of 28847.97 and intraday low of 28736.1, while the NSE Nifty touched intraday high of 8898.5 and intraday low of 8862.45.

Meanwhile, the Indian rupee was trading lower by 12 paise against its US counterpart on Friday amid fund outflows by foreign funds and importers due to fresh demand for the American currency.

The top losers of the BSE Sensex pack were Asian Paints Ltd. (Rs. 1008.95,-1.88%), Housing Development Finance Corporation Ltd. (Rs. 1372.45,-1.81%), ITC Ltd. (Rs. 261.20,-1.27%), ICICI Bank Ltd. (Rs. 275.45,-1.01%), Larsen & Toubro Ltd. (Rs. 1461.65,-0.91%), among others.

Meanwhile, Reliance Industries Ltd. (Rs. 1269.00,+2.90%), GAIL (India) Ltd. (Rs. 511.50,+1.71%), Sun Pharmaceutical Industries Ltd. (Rs. 681.60,+0.82%), Axis Bank Ltd. (Rs. 509.65,+0.66%), Lupin Ltd. (Rs. 1468.30,+0.50%), were among the top gainers on BSE.

On the sectoral front, FMCG and auto stocks were leading the decline, falling as much as 0.7 per cent and 0.52 per cent respectively.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2730, shares advanced were 1147 while 1433 shares declined and 150 were unchanged.