Mid-Session: Markets under pressure; Auto, FMCG drag
09/09/2016 12:29
NIFTY Fut : SELL ZONE
BANKNIFTY FUT : SELL ZONE
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The key domestic benchmark indices continued to hover in red during the noon trading session amid selling in frontline blue chip counters tracking weakness across global markets.
At 12:23 hours, the 30-share benchmark index was trading 28799.85 down by per cent 245.43 points or by 0.84 per cent, while the NSE Nifty was at 8873 down by 79.5 points or by 0.89 per cent.
Markets failed to draw some support with the President Pranab Mukherjee giving his assent to the landmark Goods and Services Tax (GST) Bill. Now the Centre will have to pass the Central GST and Integrated GST Bills, while the states will need to approve their respective GST legislations. The government targets to implement the GST system from 1 April, 2017.
Investors remained on the sidelines ahead of index of industrial production data for the month of July to be released after the market hours. Industrial output growth halved to 2.1 per cent in June, as compared to 4.2 per cent in June 2015.
On the global front, Asian peers were trading mixed after the European Central Bank left markets in the dark on what future easing steps it may take.
09/09/2016 12:29
NIFTY Fut : SELL ZONE
BANKNIFTY FUT : SELL ZONE
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The key domestic benchmark indices continued to hover in red during the noon trading session amid selling in frontline blue chip counters tracking weakness across global markets.
At 12:23 hours, the 30-share benchmark index was trading 28799.85 down by per cent 245.43 points or by 0.84 per cent, while the NSE Nifty was at 8873 down by 79.5 points or by 0.89 per cent.
Markets failed to draw some support with the President Pranab Mukherjee giving his assent to the landmark Goods and Services Tax (GST) Bill. Now the Centre will have to pass the Central GST and Integrated GST Bills, while the states will need to approve their respective GST legislations. The government targets to implement the GST system from 1 April, 2017.
Investors remained on the sidelines ahead of index of industrial production data for the month of July to be released after the market hours. Industrial output growth halved to 2.1 per cent in June, as compared to 4.2 per cent in June 2015.
On the global front, Asian peers were trading mixed after the European Central Bank left markets in the dark on what future easing steps it may take.
