Mid-Session: Sensex sinks 220 pts, Nifty below 8,650; Bankex, FMCG stocks drag 26/10/2016 12:26
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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The key domestic benchmark indices continued to trade lower in late morning deal on Wednesday as investors resort to a cautious approach ahead of a flurry of earning reports from major bluechips. Further, sell-off in markets across Asia and a negative finish at Wall Street overnight as a retreat in US consumer confidence, disappointing earnings from Apple Inc. and a renewed slump in oil prices raised concerns over the health of the global economy, curbed risk taking appetite.
At 12:15 hours, the 30-share benchmark index was trading at 27869.6, down by 221.82 points or by 0.79 per cent, and the NSE Nifty was at 8637.5, down by 53.8 points or by 0.62 per cent.
In the day’s trade so-far, Sensex touched an intraday high of 28050.55 and intraday low of 27840.34, while the NSE Nifty touched intraday high of 8657.3 and intraday low of 8617.9.
The top losers of the BSE Sensex pack were Axis Bank Ltd. (Rs. 486.75,-8.00%), ICICI Bank Ltd. (Rs. 281.00,-2.80%), Tata Motors Ltd. (Rs. 540.50,-2.28%), ITC Ltd. (Rs. 234.50,-1.78%), Asian Paints Ltd. (Rs. 1123.00,-1.49%), among others.
Meanwhile, Hero MotoCorp Ltd. (Rs. 3446.95,+2.67%), Bharti Airtel Ltd. (Rs. 319.00,+2.56%), Bajaj Auto Ltd. (Rs. 2839.05,+1.40%), Maruti Suzuki India Ltd. (Rs. 5860.00,+1.35%), Hindustan Unilever Ltd. (Rs. 843.00,+1.32%), were among top gainers on BSE.
On the sectoral front, bankex and FMCG stocks were leading the decline, falling as much as 1.25 per cent and 0.84 per cent respectively.
The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2774, shares advanced were 1387 while 1178 shares declined and 209 were unchanged.
