Bears continue to dominate D-Street; auto, realty stocks weigh

07/02/2017 11:36

Tracking weak cues globally, Indian equity benchmarks continued to trade in the negative territory during late morning deals on Tuesday on profit-booking by investors mainly in the auto and realty sector stocks.

At 11:15 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 28,350.52 down by 88.76 points or 0.31 per cent while the NSE Nifty was at 8,772.7 down by 28.35 points or 0.32 per cent.

Besides, investors turned nervous ahead of the RBI monetary policy review on Wednesday, too influenced sentiment at D-Street.

Major show spoilers were Tata Motors Ltd. (Rs. 514.15,-2.12%), Mahindra & Mahindra Ltd. (Rs. 1249.40,-1.41%), Adani Ports & Special Economic Zone Ltd. (Rs. 305.60,-1.29%), Bajaj Auto Ltd. (Rs. 2772.95,-0.92%), Wipro Ltd. (Rs. 457.00,-0.88%), among others.

The top gainers of the BSE Sensex pack were Asian Paints Ltd. (Rs. 997.45,+0.56%), ITC Ltd. (Rs. 277.90,+0.54%), Cipla Ltd. (Rs. 603.75,+0.38%), Tata Steel Ltd. (Rs. 474.20,+0.34%), Sun Pharmaceutical Industries Ltd. (Rs. 676.10,+0.27%), among others.

The market breadth, indicating the overall strength of the market, was positive. On BSE, out of the total 2,589 shares traded, 1,321 advanced while 1,154 shares declined and 114 remained unchanged.

On the global front, Asian markets were trading in the red following overnight losses in the US and European markets. With China’s Shanghai Composite, Hong Kong’s Hang Seng and Japan’s Nikkei 225 were trading 0.38 per cent, 0.08 per cent and 0.40 per cent lower respectively.

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