Sensex, Nifty Turn Choppy Amid Cautious Trade: 10 Things To Know
- At 12:57 pm, the 30-share Sensex traded 1.45 points or 0.00 per cent higher at 35,851.61, and the Nifty was at 10,766.45, down 5.35Â points or 0.05 per cent from the previous close.
- Top gainers on the 50-scrip index were Eicher Motors, Sun Pharmaceutical, ICICI Bank and Tata Motors, trading between 1.97 and 3.81Â per cent higher. Prominent losers on the index were UPL, Zeel, NTPC, Adani Ports and Hindalco, trading between 1.13 and 1.64 per cent lower.Â
- Prominent gainers on the 30-scrip benchmark index were Sun Pharmaceutical, ICICI Bank, Tata Motors, Yes Bank and State Bank of India, trading between 1.44 per cent and 3.35 per cent higher. HDFC Bank, Kotak Mahindra Bank, Hindustan Unilever, Power Grid and NTPC - trading between 0.85 per cent and 1.03 per cent lower - were among the main laggards on the index.
- Investors were cautious and preferred to log gains ahead of December quarterly earnings of blue-chip companies such as TCS and Infosys due later this week, traders were quoted as saying in news agency Press Trust of India (PTI)Â report.Â
- Besides, a weak trend at most of other Asian markets also weighed on sentiments, traders added.Â
- Most Asian shares were propped up on Tuesday by hopes that Washington and Beijing may be inching towards a trade deal and that the Federal Reserve would halt its tightening if economic growth slows further. Japan's Nikkei rose 0.9 per cent while MSCI's broadest index of Asia-Pacific shares outside Japan ticked up just 0.1 per cent, though it was dragged down by falls in China and Taiwan.
- "There is some profit booking after the rally we saw in the previous session and there is a lack of trigger for further upside in the market," said Siddhartha Khemka, head of retail research at Motilal Oswal Securities.
- The Central Statistics Office's positive advanced estimates of national income for 2018-19, however, capped the losses on bourses, traders said. The government on Monday said it estimated GDP or gross domestic product growth at 7.2 per cent in 2018-19, as against 6.7 per cent in 2017-18.
- The rupee, meanwhile, weakened by 36 paise to 70.04 against the dollar on Tuesday.
- Domestic institutional investors (DIIs) net sold shares to the tune of Rs 141.97 crore, while foreign portfolio investors (FPIs) purchased equities worth a net Rs 736.18 crore on Monday, provisional data available with the NSE showed. (With inputs from agencies)
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