Markets slip into red; realty, consumer durables weigh
16/08/2016 11:36
NIFTY Fut : Trend : SELL ZONE
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Tracking mixed cues from fellow Asian peers and disappointing macroeconomic data, Indian equity benchmarks trading in the negative territory during the late morning deals on Tuesday led by selling pressure mainly in the realty and consumer durables sector stocks.
At 11:05 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 28,109.79, down by 42.61 points or 0.15 per cent while the NSE Nifty was at 8,658.65, down by 13.5 points or 0.16 per cent.
Markets sentiment dampened on mixed macroeconomic data as June Industrial output was up by 2.1 per cent, however down from 4.2 per cent a year ago, due to poor performance by manufacturing and heavy contraction in capital goods, while consumer inflation shot beyond the official tolerance level of 6 per cent, leaving little room for near-term monetary easing.
Meanwhile, Just Dial and Power Grid will be in focus today as they reveal their April-June 2016 quarter earnings.
On the global front, Asian markets were trading mixed even as speculation rose that global central banks will continue to keep monetary policy loose and step up stimulus amid signs of lackluster economic growth. A rally in oil prices boosted commodity producers while listless US retail sales data on Friday pared back expectations of a US Fed interest rate hike this year.
16/08/2016 11:36
NIFTY Fut : Trend : SELL ZONE
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Tracking mixed cues from fellow Asian peers and disappointing macroeconomic data, Indian equity benchmarks trading in the negative territory during the late morning deals on Tuesday led by selling pressure mainly in the realty and consumer durables sector stocks.
At 11:05 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 28,109.79, down by 42.61 points or 0.15 per cent while the NSE Nifty was at 8,658.65, down by 13.5 points or 0.16 per cent.
Markets sentiment dampened on mixed macroeconomic data as June Industrial output was up by 2.1 per cent, however down from 4.2 per cent a year ago, due to poor performance by manufacturing and heavy contraction in capital goods, while consumer inflation shot beyond the official tolerance level of 6 per cent, leaving little room for near-term monetary easing.
Meanwhile, Just Dial and Power Grid will be in focus today as they reveal their April-June 2016 quarter earnings.
On the global front, Asian markets were trading mixed even as speculation rose that global central banks will continue to keep monetary policy loose and step up stimulus amid signs of lackluster economic growth. A rally in oil prices boosted commodity producers while listless US retail sales data on Friday pared back expectations of a US Fed interest rate hike this year.
