Connect with us

Business

Key Indian equity market indices open lower

Published

on

Sensex

Mumbai, Aug 10: Taking a cue from global markets, the key Indian equity market indices on Thursday opened lower.

The Sensitive Index (Sensex) of the BSE, which had closed at 31,797.84 points on Wednesday, opened lower at 31,750.73 points.

Minutes into trading, it was quoting at 31,677.18 points, down by 120.66 points, or 0.38 per cent.

At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 9,908.05 points, was quoting at 9,872.85 points, down by 35.20 points or 0.36 per cent.

The key Indian equity indices had extended their losses for the third consecutive session to close on a subdued note on Wednesday as investors booked profits.

According to market observers, sentiments were hampered by weak global markets on the back of geo-political tensions, coupled with heavy selling pressure in healthcare, automobile and banking stocks and outflow of foreign funds.

On Thursday, Asian indices were also showing negative trend.

Japan’s Nikkei 225 was trading in red, down by 0.25 per cent, Hang Seng down by 1.65 per cent while South Korea’s Kospi was also down by 1.21 per cent.

China’s Shanghai Composite index was quoting in red, down by 0.72 per cent.

Nasdaq closed in red, down by 0.29 points while FTSE 100 was also down by 0.60 points at the closing on Wednesday.

IANS

Business

Key Indian equity indices open flat

Published

on

SENSEX NIFTY MARKET

Mumbai, June 25: The key Indian equity indices on Monday opened on a flat to negative note.

The 30-scrip Sensitive Index (Sensex), was trading 20.89 points or 0.06 per cent lower soon after opening.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 9.20 points or 0.09 per cent lower at 10,812.65 points.

The Sensex of the BSE, which opened at 35,783.75 points, was trading at 35,668.71 points (at 9.16 a.m.), lower 20.89 points or 0.06 per cent from the previous day’s close at 35,689.60 points.

The Sensex touched a high of 35,806.97 points and a low of 35,658.19 points in the trade so far.

IANS

Continue Reading

Business

Market Review: Amid volatility equity indices rise for 5th straight week

Published

on

SENSEX NIFTY MARKET

Mumbai, June 23: Despite volatility and a broadly bearish momentum, the key Indian equity indices rose for the fifth consecutive week, although with marginal gains.

Value buying by investors, primarily in banking, healthcare and auto stocks on Friday helped the indices end higher than the previous week’s levels.

The gains in the week ended Friday, were limited by global trade war concerns due to imposition of tariffs and counter-tariffs internationally.

Index-wise, the barometer 30-scrip Sensitive Index (Sensex) of the BSE rose by 67.46 points or 0.19 per cent to close at 35,689.60 points on a weekly basis.

The wider Nifty50 of the NSE closed the week’s trade at 10,821.85 points — up 4.15 points or 0.04 per cent — from its previous close.

According to analysts, market breadth was negative in all the five trading sessions of the week.

“Markets ended the week with marginal gains after trading in a rangebound manner for a major part of the week. It was nevertheless the fifth consecutive week of gains for the Nifty50,” said Deepak Jasani, Head of Retail Research at HDFC Securities.

Shibani Kurian, Senior Vice President and Head of Equity Research at Kotak Mutual Fund told IANS: “Volatility in the market continued during the week ended June 22, 2018 amidst rhetoric of intensifying trade wars between the US and China and the possibility of imposition of further tariffs against imports from China.”

According to Equity99’s Senior Research Analyst, Rahul Sharma, stock specific actions were the flavor of the week, “wherein HDFC twins (HDFC, HDFC Bank) shimmered, gaining more than 2 per cent”.

Further, during the week all eyes were on the outcome of the Organisation of Petroleum Exporting Countries’ (OPEC) meet, said Prateek Jain, Director of Hem Securities. OPEC, was expected to decide on raising its oil production to cool down oil prices and eventually on Friday it announced an agreement to raise oil output by nearly one million barrels per day.

On the currency front, the rupee closed at 67.84 against the US dollar appreciating by 18 paise from its previous week’s close of 68.02 per greenback.

In terms of investments, provisional figures from the stock exchanges showed that foreign institutional investors sold scrip worth Rs 2,088.81 crore, while the domestic institutional investors purchased stocks worth Rs 4,720.76 crore during the week.

Figures from the National Securities Depository (NSDL) revealed that foreign portfolio investors (FPIs) divested equities worth Rs 4,528.63 crore, or $665.71 million, in the week ended on June 22.

Sectorally, the top gainers were the Bank Nifty, pharma and energy indices, while the top losers were metal, public sector banks and IT indices, Jasani told IANS.

The top weekly Sensex gainers were ICICI Bank (up 6.57 per cent at Rs 300.85); HDFC (up 3.86 per cent at Rs 1,902.40); HDFC Bank (up 2.52 per cent at Rs 2,081.80); Tata Motors (up 1.63 per cent at Rs 308.15); and Yes Bank (up 1.41 per cent at Rs 335.20 per share).

The major losers were Coal India (down 5 per cent at Rs 265.10); Vedanta (down 4.23 per cent at Rs 228.65); ONGC (down 3.63 per cent at Rs 159.45); Wipro (down 3.34 per cent at Rs 257.95); and Infosys (down 2.66 per cent at Rs 1,246.45 per share).

IANS

Continue Reading

Business

Oil prices rally after OPEC meeting

Published

on

OPEC

Vienna, June 23 (IANS) Oil prices surged as investors were closely watching the Organization of the Petroleum Exporting Countries (OPEC) meeting.

The West Texas Intermediate for August delivery on Friday rose $3.04 to settle at $68.58 dollars a barrel on the New York Mercantile Exchange, while Brent crude for August delivery was up $2.50 to close at $75.55 a barrel on the London ICE Futures Exchange, Xinhua news agency reported.

The OPEC on Friday announced an agreement to raise oil output which, in accord with non-OPEC producers, had been reduced last year in order to boost prices that had been in free fall mainly due to a supply glut.

Following a ministerial meeting here of the 14-nation cartel, the statement released, however, did not provide any details of the production increases to be allocated among members.

Current OPEC Chairman, the UAE Energy Minister Suhail Mohamed Al Mazrouei, told reporters after the meeting that the increase agreed upon is “a little bit less than 1 million barrels” over OPEC’s current output.

OPEC and non-OPEC producers, including Russia, had put in place 1.2 million barrels per day (bpd) cut from January 2017, which helped boost crude prices go over $80 a barrel last month.

Continue Reading
Advertisement

Most Popular