Markets extend losses; CDS, metal stocks lose shine

 21/10/2016 14:35

The key domestic benchmark indices continued to extend losses during the late noon trading session after the European Central Bank hinted at additional stimulus, but refrained from talking about the ongoing quantitative easing program scheduled to end in March.

At 14:29 hours, the 30-share benchmark index was trading at 27988.99 down by 140.85 points or by 0.5 per cent, while the NSE Nifty was at 8661.5 down by 37.9 points or by 0.44 per cent.

In the weak trade so-far, Sensex touched an intraday high of 28163.41 and an intraday low of 27957.92, while the NSE Nifty touched an intraday high of 8709.1 and an intraday low of 8652.05.

Further, losses in the Consumer Durables, Metal, Banking, Oil & Gas and PSU stocks dampened the mood. Depreciation in Indian rupee too weighed down sentiments, the rupee was trading lower by 9 paise at 66.90 against the dollar at this point of time on sustained foreign fund outflows amid increased demand for the US currency from importers.

The top gainers of the BSE Sensex pack were Dr. Reddy’s Laboratories Ltd. (Rs. 3115.85,+1.31%), Hindustan Unilever Ltd. (Rs. 847.00,+0.77%), Tata Consultancy Services Ltd. (Rs. 2417.30,+0.73%), Wipro Ltd. (Rs. 498.60,+0.63%), HDFC Bank Ltd. (Rs. 1260.60,+0.42%), among others.

The top losers of the BSE Sensex pack were Cipla Ltd. (Rs. 578.20,-2.83%), Reliance Industries Ltd. (Rs. 1060.50,-2.57%), Axis Bank Ltd. (Rs. 526.70,-2.25%), Housing Development Finance Corporation Ltd. (Rs. 1333.25,-1.90%), Asian Paints Ltd. (Rs. 1145.85,-1.83%), among others.

Among the sectors, Metal index was at 10272.75 down by -105.83 points or by -1.02%. Hindalco Industries Ltd. (Rs. 151.60,-2.35%), Vedanta Ltd. (Rs. 203.00,-1.96%), NMDC Ltd. (Rs. 123.05,-1.60%), Hindustan Zinc Ltd. (Rs. 246.75,-1.26%), Tata Steel Ltd. (Rs. 423.25,-1.21%),.

On the flip side, some buying was seen in Realty index was at 1547.15 up by 9.09 points or by 0.59%. Unitech Ltd. (Rs. 6.24,+4.35%), Godrej Industries Ltd. (Rs. 365.00,+1.32%), Indiabulls Real Estate Ltd. (Rs. 84.35,+0.96%), DLF Ltd. (Rs. 155.25,+0.94%), Phoenix Mills Ltd. (Rs. 372.00,+0.91%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3045 , shares advanced were 1376 while 1414 shares declined and 255 were unchanged.

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