Equity benchmarks are trading lower for last five consecutive days. Today downtrend is led by metal, bank, realty and FMCG stocks. The stock market has recovered slightly from opening lows.
Benchmark domestic indices opened sharply lower today, following weakness in global equities and on concerns back home over a wider fiscal deficit and tax on long-term capital gains.
All sectoral indices were in the red today, except Nifty IT which was up 0.8%. Nifty Metal index was the biggest loser, falling 2.7% tracking London Metal Exchange contracts which fell on Friday.
At 10:03 AM, the BSE Sensex was trading at 34,808, down 258 points, while the Nifty50 index was trading at 10,661, down 99 points.
The BSE MidCap Index slumped 2.3% and the BSE SmallCap Index plunged 2.8%.
PC Jeweller stock surged after it rebounded from Friday's sharp selloff. The management has clarified that promoters have not sold any shares and their fundamentals are strong.
Shares of Bhushan Steel dropped 10% on the report that insolvency resolution professional to the company has received multiple bids for the steelmaker.
Shares of 3M India rose 3% today after company's Oct-Dec net profit grew more than twofold on-year to Rs917.05 mn in Oct-Dec.
Volatility index India VIX gained 7.42% at 14.8275.
HPCL (+1.4%), Tata Motors (+1.2%), Bharti Airtel (-0.94%), Tech Mahindra (+0.82%) and HCL Tech (+0.63%) were the top gainers on Nifty50.
Vedanta (-5.3%), Yes Bank (-3.9%), Hindalco (-2.9%), Bajaj Fin (-2.8%) and Infratel (-2.6%) were the top losers in today’s trade.
Out of 2,034 stocks traded on the NSE, 136 advanced, 1,510 declined and 388 remained unchanged today.
A total of seven stocks registered a fresh 52-week high in trade today, while 127 stocks touched a new 52-week low on the NSE.
Capitalstars Financial Research Private Limited is a research house and an investment advisory carrying out operations in the Indian Equities and Commodity market.We also provide a free trial to our client.Join our services and trade with us.
Get more details here:-
* Investment & Trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
* CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
This Information is really good and informative. Thanks for it.
ReplyDeleteCheck below links and get useful information.
Manappuram Finance
Persistent Systems