Equity MRK
Wednesday, May 22, 2019 2:55:00 PM  
Asian Paints  1371.45    (0.95%)
Axis Bank  779.80    (0.87%)
Bajaj Auto  3040.00    (1.99%)
Bajaj Fin.  3430.00    (-0.08%)
Bharti Airtel  335.60    (1.45%)
Coal India  241.00    (1.56%)
H D F C  2136.90    (1.08%)
HCL Technologi...  1059.50    (0.24%)
HDFC Bank  2404.00    (0.01%)
Hero Motocorp  2703.80    (1.77%)
Hind. Unilever  1760.00    (-1.32%)
ICICI Bank  405.25    (1.22%)
IndusInd Bank  1504.00    (3.90%)
Infosys  709.70    (0.07%)
ITC  299.00    (-2.06%)
Kotak Mah. Ban...  1499.65    (0.84%)
Larsen & Toubr...  1455.80    (0.52%)
M & M  640.70    (0.30%)
Maruti Suzuki  6897.95    (0.59%)
NTPC  129.90    (1.13%)
O N G C  177.20    (1.66%)
Power Grid Cor...  182.45    (-0.84%)
Reliance Inds.  1338.90    (-0.06%)
St Bk of India  340.05    (0.74%)
Sun Pharma.Ind...  419.50    (2.64%)
Tata Motors  178.30    (0.96%)
Tata Motors-DV...  85.05    (2.35%)
Tata Steel  472.35    (-0.24%)
TCS  2080.25    (-1.37%)
Vedanta  166.20    (0.45%)
Yes Bank  137.90    (-2.20%)
Market Menu
plusminDaily Market Tracker
Corporate Information
Corporate Actions
Other Markets
Mid Session Commentary
You are here : Equity | News | Mid Session Commentary
Weak market breadth
(12:31, 06 Dec 2018)

Key benchmark indices traded with weakness due to selling pressure in index pivotals Reliance Industries, Maruti Suzuki India and Kotak Mahindra Bank. At 12:22 IST, the barometer index, the S&P BSE Sensex, was down 396.56 points or 1.11% at 35,487.85. The Nifty 50 index was down 134.30 points or 1.25% at 10,648.60. Capital goods stocks edged lower. Weakness in Asian stocks weighed on the domestic bourses.

Trading for the day began on a subdued note as the key benchmark indices saw a gap-down opening on negative Asian stocks. Stocks extended initial losses in morning trade. Weakness persisted on the bourses in mid-morning trade as key indices hit intraday low due to selling pressure in index pivotals.

Provisional data released by the stock exchanges showing that local and foreign funds, both, were net sellers of Indian stocks yesterday, 5 December 2018, also weighed on the sentiment. The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 357.82 crore. Domestic institutional investors (DIIs) sold shares worth a net Rs 791.59 crore.

The S&P BSE Mid-Cap index was down 1.39%. The S&P BSE Small-Cap index was down 1.34%.

The market breadth, indicating the overall health of the market, was weak. On the BSE, 566 shares rose and 1625 shares fell. A total of 125 shares were unchanged.

Index heavyweight Reliance Industries lost 1.48% to Rs 1,138.

Capital goods stocks edged lower. BEML (down 3.99%), ABB India (down 0.75%), Bharat Heavy Electricals (Bhel) (down 1.81%), Bharat Electronics (down 0.73%), Havells India (down 2.36%), L&T (down 1.13%) and Punj Lloyd (down 14.33%) declined. Siemens (up 2.62%) and Thermax (up 0.63%) rose.

Infosys fell 0.89%. Infosys inaugurated its Technology and Innovation Hub in Hartford. Infosys also announced that it has hired more than 7,000 American workers in the last 18 months as part of its ongoing commitment to accelerate the pace of digital innovation for American enterprises. The announcement was made before market hours today, 6 December 2018.

On the political front, state assembly elections are being be closely watched. Polling in Rajasthan and Telangana will be held tomorrow, 7 December 2018. Assembly elections in Madhya Pradesh and Mizoram were held on 28 November 2018. The election to the 90-member Chhattisgarh Assembly was held in two phases 12 and 20 November 2018. Counting of votes will be held across all the five states on 11 December 2018.

Overseas, Asian stock prices fell Thursday amid growing uncertainty about the global economy and President Donald Trump's tariff policies on China.

Meanwhile, Bank of Japan Governor Haruhiko Kuroda said economic risks from abroad could be severe. The US Federal Reserve's Beige Book report showed there were concerns about higher tariffs from a widening trade war, rising interest rates and tight labor markets. Trump's get-tough approach to trade was causing rising costs for manufacturers and weaker sales at companies, it said.

Trading in US index futures indicated that the Dow could slump 324 points at the opening bell today after Canada arrested a top executive of Chinese telecom giant Huawei Technologies at the request of the US, a move that is seen as exacerbating tensions between the US and China.

The US New York Stock Exchange and Nasdaq were both closed on Wednesday to mark the day of mourning for the late former President George H.W. Bush, who died on November 30 at age 94.

Powered by Capital Market - Live News