Post Session: Sensex, Nifty end lower in choppy trade; realty, tech stocks drag
01/09/2016 16:05
NIFTY Fut : SELL ZONE
BANKNIFTY Fut : SELL ZONE
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Snapping three day gaining streak, the Indian equities ended marginally lower in choppy trade on Thursday as traders reacted to weaker-than-expected Q1 GDP growth in Asia’s third biggest economy while a mixed trend in global markets also curbed risk taking appetite. Telecom, cement, oil&gas and realty stocks saw surge in selling activity.
The BSE SENSEX closed at 28423.48, down by 28.69 points or by 0.1 per cent, and the NSE Nifty ended at 8774.65, down by 11.55 points or by 0.13 per cent.
India’s economy grew at 7.1 per cent in the April-June 2016 quarter, the slowest pace in five quarters, weighed down by sluggish investment and farm output. That compared to the 7.9 per cent expansion witnessed in Q4 FY 2015-16. Analysts had projected an expansion of 7.4 per cent in the country’s economy in the first quarter of the ongoing fiscal.
Market sentiment got a partial lift after data showed that India’s manufacturing activity expanded at the quickest pace in 13 months in August 2016 buoyed by strong domestic and foreign demand, signaling a pickup in Asia’s third biggest economy which grew at 7.1 per cent in the April-June 2016 quarter.
On the sectoral front, realty and technology stocks emerged as top losers on BSE, falling as much as 2 per cent and 1 per cent respectively.
On the global front, the Asian shares ended mixed with Hang Seng and Japan’s Nikkei 225 closed tad higher, while Shanghai Composite slipped in red as traders awaited the much anticipated US jobs data to be released on Friday, and which will offer further clues over the timing of the next Fed interest rate hike.
01/09/2016 16:05
NIFTY Fut : SELL ZONE
BANKNIFTY Fut : SELL ZONE
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The BSE SENSEX closed at 28423.48, down by 28.69 points or by 0.1 per cent, and the NSE Nifty ended at 8774.65, down by 11.55 points or by 0.13 per cent.
India’s economy grew at 7.1 per cent in the April-June 2016 quarter, the slowest pace in five quarters, weighed down by sluggish investment and farm output. That compared to the 7.9 per cent expansion witnessed in Q4 FY 2015-16. Analysts had projected an expansion of 7.4 per cent in the country’s economy in the first quarter of the ongoing fiscal.
Market sentiment got a partial lift after data showed that India’s manufacturing activity expanded at the quickest pace in 13 months in August 2016 buoyed by strong domestic and foreign demand, signaling a pickup in Asia’s third biggest economy which grew at 7.1 per cent in the April-June 2016 quarter.
On the sectoral front, realty and technology stocks emerged as top losers on BSE, falling as much as 2 per cent and 1 per cent respectively.
On the global front, the Asian shares ended mixed with Hang Seng and Japan’s Nikkei 225 closed tad higher, while Shanghai Composite slipped in red as traders awaited the much anticipated US jobs data to be released on Friday, and which will offer further clues over the timing of the next Fed interest rate hike.
