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Global cues, fund outflows depress investors; equity indices end flat

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SENSEX NIFTY MARKET

Mumbai, June 15: Broadly negative global cues on trade and monetary policy issues along with the continuous outflow of foreign funds and a weak rupee led the key Indian equity indices to close on a flat-to-positive note on Friday.

Even though, the day’s trade commenced with a “gap-up opening”, heavy selling pressure in metal, banking and capital goods stocks depressed the trajectory of both the NSE Nifty50 and the S&P BSE Sensex.

However, a last hour buying spree in IT and healthcare counters aided the indices to pare their losses and close on a flat-to-positive note.

Index-wise, the wider Nifty50 of the National Stock Exchange (NSE) closed at 10,817.70 points, up 9.65 points or 0.09 per cent from the previous close of 10,808.05 points.

Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE, which had opened at 35,656.26 points, closed at 35,622.14 points — higher by 22.32 points or 0.06 per cent — from its previous session’s close of 35,599.82 points.

The Sensex touched a high of 35,675.20 points and a low of 35,419.68 points during the intra-day trade.

In the broader markets, the S&P BSE mid-cap ended 0.40 per cent lower, while the S&P BSE small cap index fell 0.46 per cent. The BSE market breadth was bearish with 1,562 declines and 1,083 advances.

“After a small range trade in the morning, indices hit fresh intra-day low in afternoon trade as selling pressure intensified. A late recovery resulted in pushing the key equity indices to positive zone,” said Deepak Jasani, Head of Retail Research at HDFC Securities.

Jasani added: “Major Asian markets have closed on a mixed note. European indices like FTSE 100 and DAX traded in the red.”

On the currency front, the Indian rupee weakened by 39 paise against the US dollar to 68.02, from its previous close of 67.63 per greenback.

Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 1,524.74 crore while the domestic institutional investors bought stocks worth Rs 561.01 crore.

Sector-wise, the S&P BSE IT index gained the most, by 305.77 points, followed by the healthcare index which rose by 263.49 points and the Teck (technology, entertainment and media) index, which ended higher by 128.91 points respectively.

On the other hand, S&P BSE metal index fell by 208.78 points, the banking index was down 193.45 points and the capital goods index ended lower by 191.96 points.

The major gainers on the Sensex were Dr Reddy’s Labs, up 3.65 per cent at Rs 2,351.10; Infosys, up 3.37 per cent at Rs 1,280.45; Tata Consultancy Services, up 2.75 per cent at Rs 1,841.45; Sun Pharma, up 2.04 per cent at Rs 571.05; and Reliance Industries, up 0.63 per cent at Rs 1,013.85 per share.

The top losers were Yes Bank, down 1.91 per cent at Rs 330.55; State Bank of India, down 1.82 per cent at Rs 277.55; ONGC, down 1.81 per cent at Rs 165.45, Coal India, down 1.59 per cent at Rs 279.05; and Tata Motors (DVR), down 1.56 per cent at Rs 180.05 per share.

IANS

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Key Indian equity market indices open in green

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sensex up

Mumbai, Nov 22: The key Indian equity market indices on Thursday opened higher despite a muted trend in Asian markets.

The Sensitive Index (Sensex) of the BSE, which had closed at 35,199.80 points on Wednesday, opened higher at 35,282.33 points.

Minutes into trading, it was quoting at 35,287.07 points, up by 87.27 points, or 0.25 per cent.

At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 10,600.05 points on Wednesday, was quoting at 10,619.10 points, up by 19.05 points or 0.18 per cent.

India’s benchmark indices had fallen for a second straight day on Wednesday, tailing global peers and led by a slump in software exporters.

The Sensex was down by 274.71 points or 0.77 per cent at the Wednesday’s closing. In the day’s trade, the barometer 30-scrip sensitive index had touched a high of 35,494.25 points and a low of 35,112.49 points. The Nifty, too was down by 56.15 points or 0.53 per cent.

On Thursday, Asian indices were mostly showing a muted trend. Japan’s Nikkei 225 was quoting in green, up by 0.16 per cent while Hang Seng was down by 0.15 per cent, South Korea’s Kospi was down by 0.38 per cent. China’s Shanghai Composite index was trading in red, down by 0.27 per cent.

Overnight, Nasdaq closed in green, up by 0.91 per cent while FTSE 100 was also up by 1.45 percent at the closing on Wednesday.

IANS

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Sensex down 220 points, Nifty at 10,605

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Sensex Nifty Equity

Mumbai, Nov 21: The benchmark equity index S&P BSE Sensex traded over 220 points lower on Wednesday afternoon after a sell-off in the US market. But further loss were restricted as crude oil prices declined further and stocks of key sectors held on to the gains.

The Asian markets were mixed post a heavy sell-off in the US markets.

Heavy selling pressure was witnessed in the IT counters which fell over 3 per cent followed by Teck (technology, entertainment and media) and energy stocks.

However, the index pivotals — finance and banking — traded in the green.

At 2.10 p.m., the S&P BSE Sensex traded 223.48 points lower at 35,251.03 from its previous close of 35,474.51.

The benchmark index touched a high of 35,494.25 and a low of 35,112.49 while NSE’s Nifty was trading 50.90 points lower at 10,605.30.

“The prices of crude oil is falling as inventories rose last week. Currently, US inventories are at its highest level since 2015. Additionally, the prices are affected because of the global slow down which impacts demand,” Anuj Gupta, Deputy Vice President – Research – Commodities and Forex, Angel Broking, told IANS.

“The Brent Crude is trading at $63.20 per barrel and is expected to decline further.”

IANS

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Infosys to create 1,200 jobs in Australia by 2020

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Infosys

Bengaluru, Nov 21: Software major Infosys on Thursday said it will be creating 1,200 jobs and opening three innovation hubs in Australia by 2020 to reduce the digital skills gap.

“We are creating 1,200 new skilled jobs for graduates and professionals and opening three innovation hubs by 2020 to accelerate digital leadership for our clients in Australia,” said the city-based IT behemoth in a statement here.

To meet Australia’s growing demand for digital expertise, the $11-billion Indian firm also formed an education ecosystem for providing learning opportunities.

“Of the 1,200 jobs, 40 per cent will be Australian university graduates from computer science and design. Academic partnerships will be strengthened to attract top graduate talent and ramp up skill building in the country,” the statement said.

IANS

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