Stock Market Today: Nifty, Sensex Halt Three-Day Winning Streak As HDFC Bank, RIL,Tata Motors Drag
Coal India Ltd., Bharti Airtel Ltd., Mahindra & Mahindra Ltd. were limiting the losses in the NSE Nifty 50 index.
KEY HIGHLIGHTS
- Oldest First
Rupee Flat Against U.S. Dollar
The local currency closed flat at 83.50 against the U.S dollar.
It closed at 83.51 on Tuesday.
Source: Bloomberg
Nifty, Sensex Halt Three-Day Gaining Streak As HDFC Bank, RIL,Tata Motors Drag: Market Wrap
Snapping a three-day winning streek, India's benchmark indices ended lower as losses in shares of heavyweight HDFC Bank Ltd., Tata Motors Ltd. pressured.
The NSE Nifty 50 settled 17.30 points or 0.08% lower at 22,200.55, and the S&P BSE Sensex ended 117.58 points or 0.16% down at 72,987.03.
Intraday, the NSE Nifty 50 rose 0.36% to 22,297.55, and the S&P BSE Sensex rose 0.27% to 73,301.47.
Market participants await for the U.S. CPI print for April, scheduled for release later today, which will provide fresh clues about the Federal Reserve's policy outlook.
The core U.S. CPI, which excludes volatile food and energy costs, is expected to come at 0.3% on month in April from 0.4%, according to a Bloomberg's survey.
"Rangebound trade comes to an end on a negative note at 22,200.55. With gain of more than 1%, PSU Banking and Energy were the top performers; and on the flip side, FMCG was the major laggard followed by Auto," said Aditya Gaggar, Director, Progressive Shares.
"Despite a rangebound trade in Nifty50, Mid, and Smallcaps continued to showcase a strong outperformance by advancing over 0.50%. After a steep rally in the preceding days, the Index found resistance around its crucial hurdle of 22,240-22,330; a convincing move above the mentioned levels will push the Index further higher to 22,400 while on the lower side, 22,100 will be considered as a strong support," he added.
HDFC Bank Ltd., Tata Motors Ltd., Reliance Industries Ltd., Asian paints Ltd., and Sun Pharmaceutical Industries Ltd. weighed on the index.
Bharti Airtel Ltd., Coal India Ltd., Larsen & Toubro Ltd., ICICI Bank Ltd., and Mahindra & Mahindra Ltd. added to the index.
On NSE, five sectors declined, five advanced, while two remained flat out of 12. The NSE Nifty FMCG index was the top loser among peers, and the NSE Nifty PSU Bank was the top gainer.
Broader markets outperformed benchmark indices. The S&P BSE Midcap ended 0.60% higher, and the S&P BSE Smallcap settled 0.96% up.
On BSE, 16 sector advanced, and four declined out of 20. The S&P BSE FMCG was the worst performing sector. S&P BSE Capital goods gained the most.
Market breadth was skewed in favour of buyers. Around 2,214 stocks rose, 1,577 stocks declined, and 144 stocks remained unchanged on BSE.
Rane Holdings Appoints New CFO
Rane Holdings Ltd. appointed J Ananth as CFO with effect from July 1.
Source: Exchange filing
Watch India Market Close At NDTV Profit
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