News Worms
News Worms


Sensex slips 22 points in early trade on global cues

Sensex slips 22 points in early trade on global cues

It touched a high of 31,354.51 points and a low of 31,193.77 points during intra-day trade.

"Strong monsoon onset and RBI meet underpinned markets helping Nifty to 9,700, but weak Asian cues and rising tensions in the middle east kept risk appetite under check.With GST deadline looming, focus is now on the executional issues, and the preparedness of firms to meet the rollout deadline", Geojit Financial Services' Chief Market Strategist Anand James said. "Major Asian markets have ended on a mixed note, while European indices like FTSE 100, CAC 40 and DAX traded higher". It cut consumer inflation expectations to 2.0-3.5 per cent in the first half (April-September) of fiscal 2018 from 4.5 percent, and to 3.5-4.5 percent in the second half (October-March) of fiscal 2018 from 5 per cent.

Meanwhile, Foreign portfolio investors (FPIs) bought shares worth a net Rs 73.79 crore yesterday, as per provisional data released by the stock exchanges.

"Investors remained cautious ahead of key global events like ECB's monetary policy review and elections in UK". In Japan, the Nikkei 225 index closed 0.95% lower. Infosys too shed 0.54 percent to Rs 956.30, while Wipro lost 0.06 percent to Rs 548.50.

Among the public sector bank stocks, Punjab National Bank rose the most by 1.77 per cent, followed by Bank of Baroda whose stock rose by 1.40 per cent. Shares of private banks like ICICI Bank, IndusInd Bank, and Axis Bank rose anywhere between 0.5 per cent to two per cent, with Federal Bank registering the biggest gain. The S&P BSE Mid-Cap index provisionally fell 0.62%. The Hang Seng index rose 0.3 percent, to 26,063.06, while the China Enterprises Index gained 0.4 percent, to 10,649.90 points, the report added. There were 811 advances, 821 declines and 320 unchanged stocks on NSE, reflecting fairly bearish undertone floating in the market.

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