Sensex, Nifty slip into red; FMCG, Auto stocks drag

21/02/2017 11:35

Tracking mixed cues from fellow Asian peers, Indian equity benchmarks slipped into the negative territory during late morning deals on Tuesday on volatility ahead of the February series Futures & Options expiry on Thursday.

At 11:09 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 28,627.68 down by 33.9 points or 0.12 per cent while the NSE Nifty was at 8,872 down by 7.2 points or 0.08 per cent.

Also, investors keenly eyed the minutes of the US Fed meeting this week for possible insight into how members see Trump’s polices, too influenced sentiment at D-Street.

Markets witnessed selling pressure mainly in the FMCG and auto sector stocks.

Major show spoilers were Bharti Airtel Ltd. (Rs. 367.10,-2.28%), ITC Ltd. (Rs. 262.30,-1.34%), Coal India Ltd. (Rs. 317.35,-0.84%), Mahindra & Mahindra Ltd. (Rs. 1308.00,-0.55%), Maruti Suzuki India Ltd. (Rs. 6063.35,-0.47%), among others.

The top gainers of the BSE Sensex pack were Axis Bank Ltd. (Rs. 485.90,+1.10%), GAIL (India) Ltd. (Rs. 529.35,+1.02%), Asian Paints Ltd. (Rs. 984.20,+0.90%), Tata Steel Ltd. (Rs. 491.00,+0.88%), Tata Motors Ltd. (Rs. 458.65,+0.69%), among others.

The market breadth, indicating the overall strength of the market, was positive. On BSE, out of the total 2,516 shares traded, 1,349 advanced while 1,022 shares declined and 145 remained unchanged.

On the global front, Asian markets were trading mixed, with China’s Shanghai Composite and Japan’s Nikkei 225 were rose nearly 0.22 per cent and 0.73 per cent respectively while Hong Kong’s Hang Seng was down nearly 0.34 per cent.

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