Mid-Session: Sensex dips 233 pts, Nifty slips below 9,300; metal stocks lose shine
05/05/2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
The Indian equities continued to trade lower in late morning deal on Friday, weighed down by losses in metal and oil&gas stocks, tracking weakness in Asian markets as fall in commodities raised concerns about the health of the global economy. The investors also weighed newly-appointed US president Donald Trump's reform plans after the US House of Representatives passed Republican healthcare plan, replacing Obamacare, while cautioned prevailed ahead of Friday's government payrolls data. On the sectoral front, metal index plunged 2.75 per cent following consolidation in global metals prices, with Hindalco, Vedanta and Tata Steel falling between 2-5 per cent. At 12:25 hour, the Bombay Stock Exchange bellwether Sensex was trading at 29892.47, down by 233.74 points or by 0.78 per cent, and the NSE Nifty was at 9294.25, down by 65.65 points or by 0.7 per cent.
The Indian Rupee further consolidated against the greenback on Friday amid fund outflows by foreign funds and importers due to strong demand for the American currency. In the day’s trade so far, the BSE Sensex touched intra-day high of 30176.55 and intraday low of 29869.72, while the NSE Nifty touched intraday high of 9377.1 and intraday low of 9282.55. The top losers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 420.20,-3.73%), Oil And Natural Gas Corporation Ltd. (Rs. 82.80,-3.15%), Tata Steel Ltd. (Rs. 431.80,-2.45%), Axis Bank Ltd. (Rs. 510.00,-1.72%), Mahindra & Mahindra Ltd. (Rs. 1313.00,-1.67%), among others. On the flip side, Asian Paints Ltd. (Rs. 1146.85,+1.46%), State Bank of India (Rs. 300.30,+0.50%), Coal India Ltd. (Rs. 281.10,+0.45%), Maruti Suzuki India Ltd. (Rs. 6654.95,+0.27%), Dr. Reddy's Laboratories Ltd. (Rs. 2607.65,+0.06%), were among the top gainers on BSE. On the sectoral front, metal and oil&gas stocks emerged as top losers, falling as much as 2.75 per cent and 1.21 per cent, respectively.
The market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2822, shares advanced were 831 while 1851 shares declined and 140 were unchanged.
05/05/2017
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 metal and oil&gas stocks, tracking weakness in Asian markets as fall in commodities raised concerns about the health of the global economy. The investors also weighed newly-appointed US president Donald Trump's reform plans after the US House of Representatives passed Republican healthcare plan, replacing Obamacare, while cautioned prevailed ahead of Friday's government payrolls data. On the sectoral front, metal index plunged 2.75 per cent following consolidation in global metals prices, with Hindalco, Vedanta and Tata Steel falling between 2-5 per cent. At 12:25 hour, the Bombay Stock Exchange bellwether Sensex was trading at 29892.47, down by 233.74 points or by 0.78 per cent, and the NSE Nifty was at 9294.25, down by 65.65 points or by 0.7 per cent.
The Indian Rupee further consolidated against the greenback on Friday amid fund outflows by foreign funds and importers due to strong demand for the American currency. In the day’s trade so far, the BSE Sensex touched intra-day high of 30176.55 and intraday low of 29869.72, while the NSE Nifty touched intraday high of 9377.1 and intraday low of 9282.55. The top losers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 420.20,-3.73%), Oil And Natural Gas Corporation Ltd. (Rs. 82.80,-3.15%), Tata Steel Ltd. (Rs. 431.80,-2.45%), Axis Bank Ltd. (Rs. 510.00,-1.72%), Mahindra & Mahindra Ltd. (Rs. 1313.00,-1.67%), among others. On the flip side, Asian Paints Ltd. (Rs. 1146.85,+1.46%), State Bank of India (Rs. 300.30,+0.50%), Coal India Ltd. (Rs. 281.10,+0.45%), Maruti Suzuki India Ltd. (Rs. 6654.95,+0.27%), Dr. Reddy's Laboratories Ltd. (Rs. 2607.65,+0.06%), were among the top gainers on BSE. On the sectoral front, metal and oil&gas stocks emerged as top losers, falling as much as 2.75 per cent and 1.21 per cent, respectively.
The market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2822, shares advanced were 831 while 1851 shares declined and 140 were unchanged.
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