SME Times is powered by   
Search News
Just in:   • Oil prices rises after sharp declines  • Exports growth continues to recede: FIEO chief  • Financial distress in India's thermal power sector  • World Entrepreneurs' Day on Tuesday, Aug 21  • China lodges protest over Pentagon report on planned strikes 
Last updated: 14 Jun, 2018  

BSE.9.thmb.jpg Global cues, macro-data subdue equity indices

Bse.9..jpg
   Top Stories
» Exports growth continues to recede: FIEO chief
» World Entrepreneurs' Day on Tuesday, Aug 21
» Rupee closes below the 70-mark, exporters may benefit: Experts
» Forex reserves plunges by over $1.80 bn on rupee crisis
» 'Unorganised food processing sector majorly populated by SMEs'
SME Times News Bureau | 14 Jun, 2018
Disappointing macro-economic inflation data, along with weak global cues pulled the key Indian equity indices in to the red on Thursday.

The slide in key indices -- S&P BSE Sensex and NSE Nifty50 -- snapped their three-day gaining streak after the country's Wholesale Price index-based inflation edged higher and the US Federal Reserve hiked its benchmark interest rates.

According to market analysts, heavy outflow of foreign funds during the day also pulled the indices lower.

Index-wise, the broader Nifty50 of the National Stock Exchange (NSE) closed at 10,808.05 points -- down by 48.65 points or 0.45 per cent -- from its previous close of 10,856.70 points.

Similarly, the barometer 30-scrip Sensitive Index (Sensex), which had opened at 35,743.10 points ended in the red. It closed at 35,599.82 points -- lower by 139.34 points or 0.39 per cent -- from its previous session's close of 35,739.16 points.

The Sensex touched a high of 35,749.88 points and a low of 35,488.55 points during the intra-day trade.

In the broader markets, the S&P BSE mid-cap index was down 0.08 per cent while the S&P BSE small-cap index ended 0.07 per cent higher from its previous close.

The BSE market breadth was tilted towards the bears with 1,423 declines against 1,206 advances. On the NSE, too, the market breadth was negative.

"The weakness was weighed by negative global cues after the US Federal Reserve raised interest rates and struck a hawkish tone in its latest policy statement," Deepak Jasani, Head, Retail Research, HDFC Securities.

According to BNP Paribas Mutual Fund's Senior Fund Manager for Equities, Abhijeet Dey, the US Federal Reserve also projected a slightly faster pace of rate increases in the coming months, with two additional hikes expected by the end of this year, compared to one previously.

"Investors took this as a more aggressive stance than previously projected and consequently took to selling equities," he said.

On the currency front, the Indian rupee appreciated by two paise against the US dollar to 67.63, from its previous close at 67.65 per greenback.

Investment-wise, provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 1,372.84 crore while the domestic institutional investors bought stocks worth Rs 576.19 crore.

Sector-wise, the S&P BSE IT index gained the most, by 202.86 points, followed by the consumer discretinary goods and services index and the energy index which rose marginally, by 2.08 points and 1.14 points respectively.

On the other hand, S&P BSE IT index fell by 194.09 points, the consumer durables index was down 185.96 points and the capital goods index ended lower by 151.72 points.

The major gainers on the Sensex were Sun Pharma, up 2.57 per cent at Rs 559.65; Yes Bank, up 1.17 per cent at Rs 337; IndusInd Bank, up 1 per cent at Rs 1,966.60; Dr Reddy's Lab, up 0.73 per cent at Rs 2,268.40; and Reliance Industries, up 0.54 per cent at Rs 1,007.50 per share.

The top losers were ICICI Bank, down 2.11 per cent at Rs 284.65; Tata Consultancy Services, down 1.75 per cent at Rs 1,792.25; Adani Ports, down 1.75 per cent at Rs 375.45, State Bank of India, down 1.75 per cent at Rs 282.70; and Axis Bank, down 1.52 per cent at Rs 531.55 per share.

 
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 20 Aug, 2018
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(5)
» Niryat Mitra, a well thought-out app(2)
» Export Promotion Councils should work for promotion of GI Products: Prabhu(1)
» Indian cement industry – opportunities and challenges(1)
» Audi CEO to remain in German police custody(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter