SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 27 May, 2015  

BSE THMB Markets close flat ahead of May derivatives expiry

BSE.9.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
SME Times News Bureau | 27 May, 2015
A benchmark index of the Indian equities markets closed flat on Wednesday on the back of disappointing quarterly results, May derivatives expiry and anxeity over the next policy rate cut.

The 30-scrip BSE Sensitive Index (Sensex) closed flat -- up 33 points or 0.12 percent.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also closed flat. It ended the day's trade down 5 points or 0.06 percent at 8,334.60 points.

The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 27,447.40 points, closed the day's trade at 27,564.66 points, up 33.25 points or 0.12 percent from the previous day's close at 27,531.41 points.

The Sensex touched a high of 27,595.80 points and a low of 27,363.72 points in the intra-day trade.

Analysts covering the day's trade said that markets opened with a negative gap, tracking global cues and disappointing quarterly numbers from the domestic companies.

However, the market reclaimed its lost ground on the back of selective buying ahead of futures and options (F&O) expiry of May series, positive cues from European markets and falling dollar after its biggest rally in two years.

"With just a day before the month's derivative contracts expire, rollovers of futures are seen to be quite low, suggesting that traders are less likely to continue with the same bets in the June contracts too, until more clarity on direction emerges," said Anand James, co-head for technical research desk with Geojit BNP Paribas.

"This can be read in the backdrop of several events lined up for next month, like interest rate announcements by RBI and FOMC on June 2nd and 17th respectively, as well as the progress of southwest monsoons in India and the Greece debt payment deadline," James said.

The Reserve Bank of India (RBI) is scheduled to conduct its bi-monthly monetary policy review on June 2.

Gaurav Jain, director with Hem Securities, said: "With the continued pressure of derivative contracts expiry, markets are in the consolidation mode. It has been a dismal quarter of earnings so far for the India Inc, adding to the spoiled sentiment. Though banks did well through the day on expectation of a rate cut in the coming RBI policy."

Sector-wise, autombile, information tchnology (IT), technology, entertainment and media (TECK) and healthcare sectors came under selling pressure.

However, healthy buying was observed in banking, capital goods, consumer durables, oil and gas and fast moving consumer goods (FMCG).

The S&P BSE automobile index dived by 402.75 points, IT index receded by 205.52 points, TECK index declined by 86.76 points and healthcare index decreased by 60.88 points.

However, S&P BSE banking index augmented by 251.06 points, capital goods index rose 116.71 points, consumer durables index increased by 99.13 points, oil and gas index was higher by 90.88 points and FMCG index was up 54.16 points.

The major Sensex gainers on Wednesday were: BHEL, up 3.34 percent at Rs.249.05; ONGC, up 2.70 percent at Rs.331.25; Axis Bank, up 2.26 percent at Rs.577.85; Coal India, up 2.11 percent at Rs.382.85; and Bharti Airtel, up 1.91 percent at Rs.408.50.

The losers were: Tata Motors, down 5.12 percent at Rs.471.65; Mahindra and Mahindra down 2.80 percent at Rs.1,225.10; Infosys, down 2.00 percent at Rs.1,969.05; Sun Pharma, down 1.97 percent at Rs.974.65; and Gail, down 1.84 percent at Rs.381.15.

Among the Asian markets, Japan's Nikkei closed higher by 0.17 percent. China's Shanghai Composite Index moved up by 0.63 percent. However, Hong Kong's Hang Seng declined by 0.60 percent.

In Europe, London's FTSE 100 edged-up by 0.65 percent. France's CAC 40 was higher by 0.55 percent. Germany's DAX Index gained 0.18 percent at the closing bell Mumbai.

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter