Subdued trade continues at D-Street; Consumer durables, IT stocks weigh

03/02/2017 11:38

Tracking mixed cues from fellow Asian peers as investors keenly eyed the key US jobs data to be released later in the day as it will set the tone for the US Fed’s policy outlook, Indian equity benchmarks were trading in a narrow range with negative bias during late morning deals on Thursday.

At 11:14 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 28,194.47 down by 32.14 points or 0.11 per cent while the NSE Nifty was at 8,722.2 down by 12.05 points or 0.14 per cent.

Globally, Bank of England held interest rates at 0.25 per cent after US Federal Reserve kept the interest rates unchanged in its first meeting on Wednesday since President Trump took office. However, it suggested that it was on track to tighten monetary policy this year, too influenced sentiment at D-Street.

Back home, markets witnessed selling pressure mainly in the consumer durables and IT sector stocks.

Major show spoilers were ICICI Bank Ltd. (Rs. 280.50,-1.77%), Infosys Ltd. (Rs. 924.65,-1.14%), Tata Motors Ltd. (Rs. 526.05,-0.90%), Larsen & Toubro Ltd. (Rs. 1460.70,-0.86%), Power Grid Corporation of India Ltd. (Rs. 202.70,-0.54%), among others.

The top gainers of the BSE Sensex pack were Cipla Ltd. (Rs. 603.05,+3.27%), Adani Ports & Special Economic Zone Ltd. (Rs. 307.75,+1.43%), State Bank of India (Rs. 275.55,+1.05%), Coal India Ltd. (Rs. 322.95,+0.84%), Lupin Ltd. (Rs. 1494.35,+0.73%), among others.

The market breadth, indicating the overall strength of the market, was positive. On BSE, out of the total 2,489 shares traded, 1,494 advanced while 865 shares declined and 130 remained unchanged.

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