Mid Session: Markets remain under pressure; L&T, Wipro top losers
12/06/2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
The key domestic benchmark indices were trading in a negative terrain in the afternoon trading session amid weak global cues as technology, FMCG and banking & financial stocks were under pressure.
Investors remained on the sidelines ahead of the key macro-economic events, IIP data and CPI inflation numbers, due today, which will set future direction for the markets. On the corporate front, banking stocks remained in focus as the Finance Minister Arun Jaitley will meet heads of the PSU banks today to review the financial performance of all public sector banks (PSBs) and steps being taken by them to expedite the recovery of bad loans. At 12:20 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 31101.9 down by 160.16 points or by 0.51 per cent, while the NSE Nifty was at 9621.6 points, trading lower by 46.65 points or by 0.48 per cent. The BSE Sensex touched an intraday high of 31225.43 and an intraday low of 31070.65 while the NSE Nifty touched an intraday high of 9647.05 and an intraday low of 9606.4.
The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 536.20,+2.17 per cent), GAIL (India) Ltd. (Rs. 384.75,+1.00 per cent), Mahindra & Mahindra Ltd. (Rs. 1435.00,+0.60 per cent), Lupin Ltd. (Rs. 1164.80,+0.36 per cent), Tata Steel Ltd. (Rs. 507.90,+0.32 per cent), among others. Meanwhile, Larsen & Toubro Ltd. (Rs. 1733.50,-2.43 per cent), Wipro Ltd. (Rs. 524.00,-2.38 per cent), ICICI Bank Ltd. (Rs. 317.60,-1.31 per cent), Tata Motors Ltd. (Rs. 461.20,-1.28 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 355.30,-1.25 per cent), were among the top losers on BSE.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2668 shares traded, 1071 shares advanced, 1458 shares declined while 139 were unchanged. On the global front, Asian stocks were trading lower today as investors assessed the risks from political turmoil in the UK, while the Wall Street closed flat in the previous trading session as investors digested major political events such as results from the UK elections.
12/06/2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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The key domestic benchmark indices were trading in a negative terrain in the afternoon trading session amid weak global cues as technology, FMCG and banking & financial stocks were under pressure.
Investors remained on the sidelines ahead of the key macro-economic events, IIP data and CPI inflation numbers, due today, which will set future direction for the markets. On the corporate front, banking stocks remained in focus as the Finance Minister Arun Jaitley will meet heads of the PSU banks today to review the financial performance of all public sector banks (PSBs) and steps being taken by them to expedite the recovery of bad loans. At 12:20 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 31101.9 down by 160.16 points or by 0.51 per cent, while the NSE Nifty was at 9621.6 points, trading lower by 46.65 points or by 0.48 per cent. The BSE Sensex touched an intraday high of 31225.43 and an intraday low of 31070.65 while the NSE Nifty touched an intraday high of 9647.05 and an intraday low of 9606.4.
The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 536.20,+2.17 per cent), GAIL (India) Ltd. (Rs. 384.75,+1.00 per cent), Mahindra & Mahindra Ltd. (Rs. 1435.00,+0.60 per cent), Lupin Ltd. (Rs. 1164.80,+0.36 per cent), Tata Steel Ltd. (Rs. 507.90,+0.32 per cent), among others. Meanwhile, Larsen & Toubro Ltd. (Rs. 1733.50,-2.43 per cent), Wipro Ltd. (Rs. 524.00,-2.38 per cent), ICICI Bank Ltd. (Rs. 317.60,-1.31 per cent), Tata Motors Ltd. (Rs. 461.20,-1.28 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 355.30,-1.25 per cent), were among the top losers on BSE.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2668 shares traded, 1071 shares advanced, 1458 shares declined while 139 were unchanged. On the global front, Asian stocks were trading lower today as investors assessed the risks from political turmoil in the UK, while the Wall Street closed flat in the previous trading session as investors digested major political events such as results from the UK elections.
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