Mid-Session: Sensex, Nifty trade in red amid profit booking; RIL up 3%, Wipro down 2%
14/06/2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
Amidst choppy trade, the Indian equities were trading lower with marginal loss in late morning deals on Wednesday, undermining firm cues from Asian peers, as caution prevailed in the market ahead of the outcome of the US Federal policy review and its possible impact on the Indian economy. Reliance Industries jumped 3 per cent after the data released by the Telecom Regulatory Authority of India (TRAI) showed that its subsidiary Reliance Jio Infocomm outperformed its peers by adding about 0.4 crore new users in April to reach a consumer base of 11.25 crore. Among others, Wipro fell over 2 per cent after the country’s third largest software exporter said that it has invested USD 809,690 to acquire stake in consulting firm Drivestream. At 12:15 hours, the 30-share barometer Sensex was at 31075.93, down by 27.56 points or by 0.09 per cent, and the NSE Nifty was at 9591.3, down by 15.6 points or by 0.16 per cent. In the day’s trade so far, the BSE Sensex touched intra-day high of 31183.11 and intraday low of 31054.94, while the NSE Nifty touched intraday high of 9627.4 and intraday low of 9580.45.
The Indian Rupee was trading 09 paise higher against greenback as industry has restated its demand for an interest rate cut by the RBI as India's industrial output growth slipped to 3.1 per cent in April, while retail inflation slumped to record low of 2.18 per cent in May, strengthening government's case for lowering of interest rate by the central bank. Adding to it, selling of dollar by banks and exporters also pushed the home currency higher. The top losers of the BSE Sensex pack were Wipro Ltd. (Rs. 253.10,-2.41%), Cipla Ltd. (Rs. 541.00,-1.73%), Asian Paints Ltd. (Rs. 1133.10,-1.50%), ITC Ltd. (Rs. 300.35,-1.43%), Housing Development Finance Corporation Ltd. (Rs. 1649.00,-1.17%), among others. On the flip side, Reliance Industries Ltd. (Rs. 1350.75,+2.91%), Dr. Reddy's Laboratories Ltd. (Rs. 2681.00,+2.01%), Hero MotoCorp Ltd. (Rs. 3783.80,+0.83%), Power Grid Corporation of India Ltd. (Rs. 211.70,+0.81%), ICICI Bank Ltd. (Rs. 316.25,+0.46%), were among the top gainers on BSE.
On the sectoral front, FMCG and metal stocks emerged as top losers, falling as much as 0.73 per cent each. The market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2655, shares advanced were 1069 while 1432 shares declined and 154 were unchanged.
14/06/2017
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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Amidst choppy trade, the Indian equities were trading lower with marginal loss in late morning deals on Wednesday, undermining firm cues from Asian peers, as caution prevailed in the market ahead of the outcome of the US Federal policy review and its possible impact on the Indian economy. Reliance Industries jumped 3 per cent after the data released by the Telecom Regulatory Authority of India (TRAI) showed that its subsidiary Reliance Jio Infocomm outperformed its peers by adding about 0.4 crore new users in April to reach a consumer base of 11.25 crore. Among others, Wipro fell over 2 per cent after the country’s third largest software exporter said that it has invested USD 809,690 to acquire stake in consulting firm Drivestream. At 12:15 hours, the 30-share barometer Sensex was at 31075.93, down by 27.56 points or by 0.09 per cent, and the NSE Nifty was at 9591.3, down by 15.6 points or by 0.16 per cent. In the day’s trade so far, the BSE Sensex touched intra-day high of 31183.11 and intraday low of 31054.94, while the NSE Nifty touched intraday high of 9627.4 and intraday low of 9580.45.
The Indian Rupee was trading 09 paise higher against greenback as industry has restated its demand for an interest rate cut by the RBI as India's industrial output growth slipped to 3.1 per cent in April, while retail inflation slumped to record low of 2.18 per cent in May, strengthening government's case for lowering of interest rate by the central bank. Adding to it, selling of dollar by banks and exporters also pushed the home currency higher. The top losers of the BSE Sensex pack were Wipro Ltd. (Rs. 253.10,-2.41%), Cipla Ltd. (Rs. 541.00,-1.73%), Asian Paints Ltd. (Rs. 1133.10,-1.50%), ITC Ltd. (Rs. 300.35,-1.43%), Housing Development Finance Corporation Ltd. (Rs. 1649.00,-1.17%), among others. On the flip side, Reliance Industries Ltd. (Rs. 1350.75,+2.91%), Dr. Reddy's Laboratories Ltd. (Rs. 2681.00,+2.01%), Hero MotoCorp Ltd. (Rs. 3783.80,+0.83%), Power Grid Corporation of India Ltd. (Rs. 211.70,+0.81%), ICICI Bank Ltd. (Rs. 316.25,+0.46%), were among the top gainers on BSE.
On the sectoral front, FMCG and metal stocks emerged as top losers, falling as much as 0.73 per cent each. The market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2655, shares advanced were 1069 while 1432 shares declined and 154 were unchanged.
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