|
|
|
Profit booking, global cues subdue markets, banking stocks fall
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 29 Sep, 2020
Profit booking, along with volatile global cues, subdued the Indian
equity markets on Tuesday, with both the BSE Sensex and NSE Nifty50
closing on a flat-to-negative note.
Segment-wise, heavy selling
was witnessed in banking, FMCG, infra, pharma and energy stocks.
However, metals, IT and auto stocks gained.
On the global front,
Asian markets ended on a mixed note after a mildly higher opening on
Tuesday ahead of the first US presidential debate later in the day, with
investors also remaining cautious over the global economy's prospects
as coronavirus deaths surpassed the 1-million mark worldwide.
Similarly,
European shares slipped as investors awaited the first US presidential
debate, and eyed progress of a fiscal stimulus package in Washington.
The BSE Sensex closed at 37,973.22, lower by 8.41 points, or 0.02 per cent, from the previous close of 37,981.63.
The
Nifty50 on the National Stock Exchange closed at 11,222.40, lower by
5.15 points, or 0.05 per cent, from its previous close.
"Investors
took some profits due to recent gains in the markets, reflected in a
negative advance decline ratio," said Deepak Jasani, Head of Retail
Research at HDFC Securities.
"Some sector and stock rotation
seems to be happening. Nifty could face resistance from the
11,306-11,322 band in the near future."
Vinod Nair, Head of
Research at Geojit Financial Services, said: "After a gap-up opening,
the benchmark indices grew volatile, before ending the day flat. Global
markets were also undecided and slightly negative for the day as the
outcome of the first US presidential debate was awaited."
"With
increasing infections and chances of location-specific lockdowns, Indian
indices were also uncertain. Indian markets are awaiting a trigger in
the form of confirmation of a stimulus package by the government to
boost economic activity. Till then, expect volatility."
According
to Angel Broking Head Advisory Aamar Deo Singh, the "Markets gave up
the initial gains of the day, with the benchmark index Nifty50 ending
the day flat, to close at 11,222, down 5 points, with mixed global
cues."
"Advances and declines were evenly poised with
interesting tussle between bulls and bears. Amongst the top 3 Nifty
gainers, were Hindalco, Ultratech and Hero Motocorp whereas Bharti
Infratel, ONGC and Indusind were the top 3 Nifty Losers. Nifty continues
to trade sideways within the range of 11,000-11,400."
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|