Sensex, Nifty Turn Choppy Ahead Of GDP Data Release
Domestic stock indices opened on a cautious note on Friday, ahead of the release of key GDP (Gross Domestic Product) data scheduled later in the day. At 1:07 pm, the S&P BSE Sensex slipped 112.72 points or 0.29 per cent to trade at 38,577.38. The broader Nifty50 tripped 30.75 points or 0.26 per cent to trade at 11,669.45. Volatility remained today as the rupee hit the 71-mark for the first time and other global markets were trading in the negative zone on worries prompted by a report that US President Donald Trump was preparing to step up a trade war with Beijing.Â
Main losers on Sensex pack in the morning session were Tata Motors (-0.48%), HDFC (-0.50%), Axis Bank (-1.05%), Vedanta (-1.20%), Reliance (-1.52%), YES Bank (-4.61%). Reliance, YES Bank, HDFC were among main contributors to the losses in Sensex. Main laggards on Nifty pack were YES Bank (-3.80%), Reliance (-1.37%), Vedanta (-0.65%), Hindalco (-0.35%) and Bharti Airtel (-0.29%).
However, investors built up fresh positions as September futures and options (F&O) series opened today. Investors are eyeing GDP data for April-June quarter that will be released later in the day.
Globally, oil prices slipped slightly today after hitting their highest levels in more than a month the previous day on growing evidence of disruptions to crude supply from Iran and Venezuela and after a fall in USÂ inventories.Â
Foreign portfolio investors (FPIs) bought shares worth a net of Rs 958.01 crore on Thursday, while domestic institutional investors (DIIs) sold shares worth a net of Rs 1,598.67 crore, provisional data showed.  Â
On the other hand, major gainers in the 30-share Sensex pack in the session were ONGC (+1.41%), Power Grid (+1.30%), Sun Pharma (+1.26%), Wipro (+1.25%), Coal India (+0.96%) and Infosys (+0.86%). HCL Tech (+2.74), Infratel (+2.58%), Wipro (+2.37%), Infosys (+2.25%) and Dr Reddy's (+2.18) led the pack of Nifty gainers.
On Thursday, stock markets ended marginally lower. BSE benchmark index Sensex fell 32 points to end at 38,690 while the NSE Nifty settled at 11,676, down 15 points from the previous close. (With agencies inputs)
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