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Market slips into the red

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Key benchmark indices slipped into the red and hit fresh intraday low in afternoon trade as most European stocks edged lower in early trade there. At 13:20 IST, the barometer index, the S&P Sensex, was down 125.47 points or 0.43% at 29,296.92. The 50 index was down 42.25 points or 0.46% at 9,094.15. IT stocks declined. Auto stocks were mixed.

The gained 161.95 points or 0.55% at the day's high of 29,584.34 at the onset of the session, its highest level since 18 April 2017. The index fell 157.07 points or 0.53% at the day's low of 29,265.32 in afternoon trade, its lowest level since 19 April 2017. The gained 47.25 points or 0.51% at the day's high of 9,183.65 at the onset of the session, its highest level since 18 April 2017. The index fell 43.10 points or 0.47% at the day's low of 9,093.30 in afternoon trade, its lowest level since 19 April 2017.

Key benchmark indices opened higher on positive Asian stocks. After hovering in a narrow range in positive terrain till early afternoon trade, indices slipped into the red in afternoon trade.

The Mid-Cap index was up 0.09%. The Small-Cap index was up 0.29%. Both these indices outperformed the

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,428 shares rose and 1,260 shares fell. A total of 138 shares were unchanged.

Auto stocks traded mixed. Mahindra & Mahindra (M&M) (down 0.4%), Maruti Suzuki India (down 0.76%), Tata Motors (down 0.37%) and TVS Motor Company (down 0.33%) declined. (up 0.27%), Ashok Leyland (up 3.3%), Hero MotoCorp (up 0.04%), and Eicher Motors (up 0.8%) gained.

Most IT stocks declined. HCL Technologies (down 0.43%), TCS (down 0.36%), Infosys (down 0.06%), and Wipro (down 0.19%) declined. Tech Mahindra rose 1.84%.

National Aluminium Company (Nalco) lost 1.32% to Rs 67.20 at after the offer for sale by the Government of India to offload a total 10% stake in the company ended yesterday, 20 April 2017. Nalco's promoter, the Government of India's (GoI) offer for sale (OFS) for upto 9.66 crore equity shares of the company, representing 5% stake with an additional option to sell up to 5% stake in the company in two trading sessions concluded yesterday, 20 April 2017.

The OFS for non-retail investors completed on 19 April 2017 and for retail investors and non-retail investors who chose to carry forward their un-allotted bids, the OFS was completed yesterday, 20 April 2017. The two-day OFS had taken place through a separate, designated window on the stock exchanges.

The OFS received good response from non-retail investors' category on 19 April 2017, with an oversubscription of 184.25%. The clearing price for non-retail category was set at Rs 67 per share.

The issue also received strong response from retail investors, with an oversubscription of 317.14%. For retail category, the clearing price was fixed at Rs 69.80 per share. Retail investors will be allocated offer shares at a discount of 5% to the cut off price. Earlier, before the start of the OFS, the floor price for the issue was fixed at Rs 67 per share.

The GoI held 74.58% stake in Nalco as per the shareholding pattern as on 31 March 2017.

Overseas, most European stocks edged lower in early trade. Asian stocks rose after Bank of Japan's (BOJ) Governor Haruhiko Kuroda maintained an accommodative monetary policy and on optimism for a US tax overhaul.

Speaking a week before the BOJ monetary policy, Governor Haruhiko Kuroda said that the Bank of Japan will continue with very accommodative monetary policy and maintain the current pace of asset purchases for some time. While Japan's economy is doing better than thought a few months ago, the inflation rate is still quite sluggish, Kuroda said in New York yesterday, 20 April 2017.

Japanese manufacturing activity expanded at a stronger pace in April as export orders surged, a preliminary survey showed, in a further sign of robust global demand. The Flash Markit/Nikkei Japan Manufacturing Purchasing Managers Index (PMI) rose to 52.8 in April on a seasonally adjusted basis, from a final 52.4 in the previous month.

US stocks closed higher yesterday, 20 April 2017 on rising expectations for first-quarter corporate profits.

Markets are awaiting several economic indicators from Europe later in the session, including Eurozone manufacturing and services figures for April and British retail sales for March, to be followed by US manufacturing and services data for April and existing home sales for March.

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Market slips into the red

Key benchmark indices slipped into the red and hit fresh intraday low in afternoon trade as most European stocks edged lower in early trade there. At 13:20 IST, the barometer index, the S&P BSE Sensex, was down 125.47 points or 0.43% at 29,296.92. The Nifty 50 index was down 42.25 points or 0.46% at 9,094.15. IT stocks declined. Auto stocks were mixed.

Key benchmark indices slipped into the red and hit fresh intraday low in afternoon trade as most European stocks edged lower in early trade there. At 13:20 IST, the barometer index, the S&P Sensex, was down 125.47 points or 0.43% at 29,296.92. The 50 index was down 42.25 points or 0.46% at 9,094.15. IT stocks declined. Auto stocks were mixed.

The gained 161.95 points or 0.55% at the day's high of 29,584.34 at the onset of the session, its highest level since 18 April 2017. The index fell 157.07 points or 0.53% at the day's low of 29,265.32 in afternoon trade, its lowest level since 19 April 2017. The gained 47.25 points or 0.51% at the day's high of 9,183.65 at the onset of the session, its highest level since 18 April 2017. The index fell 43.10 points or 0.47% at the day's low of 9,093.30 in afternoon trade, its lowest level since 19 April 2017.

Key benchmark indices opened higher on positive Asian stocks. After hovering in a narrow range in positive terrain till early afternoon trade, indices slipped into the red in afternoon trade.

The Mid-Cap index was up 0.09%. The Small-Cap index was up 0.29%. Both these indices outperformed the

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,428 shares rose and 1,260 shares fell. A total of 138 shares were unchanged.

Auto stocks traded mixed. Mahindra & Mahindra (M&M) (down 0.4%), Maruti Suzuki India (down 0.76%), Tata Motors (down 0.37%) and TVS Motor Company (down 0.33%) declined. (up 0.27%), Ashok Leyland (up 3.3%), Hero MotoCorp (up 0.04%), and Eicher Motors (up 0.8%) gained.

Most IT stocks declined. HCL Technologies (down 0.43%), TCS (down 0.36%), Infosys (down 0.06%), and Wipro (down 0.19%) declined. Tech Mahindra rose 1.84%.

National Aluminium Company (Nalco) lost 1.32% to Rs 67.20 at after the offer for sale by the Government of India to offload a total 10% stake in the company ended yesterday, 20 April 2017. Nalco's promoter, the Government of India's (GoI) offer for sale (OFS) for upto 9.66 crore equity shares of the company, representing 5% stake with an additional option to sell up to 5% stake in the company in two trading sessions concluded yesterday, 20 April 2017.

The OFS for non-retail investors completed on 19 April 2017 and for retail investors and non-retail investors who chose to carry forward their un-allotted bids, the OFS was completed yesterday, 20 April 2017. The two-day OFS had taken place through a separate, designated window on the stock exchanges.

The OFS received good response from non-retail investors' category on 19 April 2017, with an oversubscription of 184.25%. The clearing price for non-retail category was set at Rs 67 per share.

The issue also received strong response from retail investors, with an oversubscription of 317.14%. For retail category, the clearing price was fixed at Rs 69.80 per share. Retail investors will be allocated offer shares at a discount of 5% to the cut off price. Earlier, before the start of the OFS, the floor price for the issue was fixed at Rs 67 per share.

The GoI held 74.58% stake in Nalco as per the shareholding pattern as on 31 March 2017.

Overseas, most European stocks edged lower in early trade. Asian stocks rose after Bank of Japan's (BOJ) Governor Haruhiko Kuroda maintained an accommodative monetary policy and on optimism for a US tax overhaul.

Speaking a week before the BOJ monetary policy, Governor Haruhiko Kuroda said that the Bank of Japan will continue with very accommodative monetary policy and maintain the current pace of asset purchases for some time. While Japan's economy is doing better than thought a few months ago, the inflation rate is still quite sluggish, Kuroda said in New York yesterday, 20 April 2017.

Japanese manufacturing activity expanded at a stronger pace in April as export orders surged, a preliminary survey showed, in a further sign of robust global demand. The Flash Markit/Nikkei Japan Manufacturing Purchasing Managers Index (PMI) rose to 52.8 in April on a seasonally adjusted basis, from a final 52.4 in the previous month.

US stocks closed higher yesterday, 20 April 2017 on rising expectations for first-quarter corporate profits.

Markets are awaiting several economic indicators from Europe later in the session, including Eurozone manufacturing and services figures for April and British retail sales for March, to be followed by US manufacturing and services data for April and existing home sales for March.

Powered by Capital Market - Live News

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Market slips into the red

Key benchmark indices slipped into the red and hit fresh intraday low in afternoon trade as most European stocks edged lower in early trade there. At 13:20 IST, the barometer index, the S&P Sensex, was down 125.47 points or 0.43% at 29,296.92. The 50 index was down 42.25 points or 0.46% at 9,094.15. IT stocks declined. Auto stocks were mixed.

The gained 161.95 points or 0.55% at the day's high of 29,584.34 at the onset of the session, its highest level since 18 April 2017. The index fell 157.07 points or 0.53% at the day's low of 29,265.32 in afternoon trade, its lowest level since 19 April 2017. The gained 47.25 points or 0.51% at the day's high of 9,183.65 at the onset of the session, its highest level since 18 April 2017. The index fell 43.10 points or 0.47% at the day's low of 9,093.30 in afternoon trade, its lowest level since 19 April 2017.

Key benchmark indices opened higher on positive Asian stocks. After hovering in a narrow range in positive terrain till early afternoon trade, indices slipped into the red in afternoon trade.

The Mid-Cap index was up 0.09%. The Small-Cap index was up 0.29%. Both these indices outperformed the

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,428 shares rose and 1,260 shares fell. A total of 138 shares were unchanged.

Auto stocks traded mixed. Mahindra & Mahindra (M&M) (down 0.4%), Maruti Suzuki India (down 0.76%), Tata Motors (down 0.37%) and TVS Motor Company (down 0.33%) declined. (up 0.27%), Ashok Leyland (up 3.3%), Hero MotoCorp (up 0.04%), and Eicher Motors (up 0.8%) gained.

Most IT stocks declined. HCL Technologies (down 0.43%), TCS (down 0.36%), Infosys (down 0.06%), and Wipro (down 0.19%) declined. Tech Mahindra rose 1.84%.

National Aluminium Company (Nalco) lost 1.32% to Rs 67.20 at after the offer for sale by the Government of India to offload a total 10% stake in the company ended yesterday, 20 April 2017. Nalco's promoter, the Government of India's (GoI) offer for sale (OFS) for upto 9.66 crore equity shares of the company, representing 5% stake with an additional option to sell up to 5% stake in the company in two trading sessions concluded yesterday, 20 April 2017.

The OFS for non-retail investors completed on 19 April 2017 and for retail investors and non-retail investors who chose to carry forward their un-allotted bids, the OFS was completed yesterday, 20 April 2017. The two-day OFS had taken place through a separate, designated window on the stock exchanges.

The OFS received good response from non-retail investors' category on 19 April 2017, with an oversubscription of 184.25%. The clearing price for non-retail category was set at Rs 67 per share.

The issue also received strong response from retail investors, with an oversubscription of 317.14%. For retail category, the clearing price was fixed at Rs 69.80 per share. Retail investors will be allocated offer shares at a discount of 5% to the cut off price. Earlier, before the start of the OFS, the floor price for the issue was fixed at Rs 67 per share.

The GoI held 74.58% stake in Nalco as per the shareholding pattern as on 31 March 2017.

Overseas, most European stocks edged lower in early trade. Asian stocks rose after Bank of Japan's (BOJ) Governor Haruhiko Kuroda maintained an accommodative monetary policy and on optimism for a US tax overhaul.

Speaking a week before the BOJ monetary policy, Governor Haruhiko Kuroda said that the Bank of Japan will continue with very accommodative monetary policy and maintain the current pace of asset purchases for some time. While Japan's economy is doing better than thought a few months ago, the inflation rate is still quite sluggish, Kuroda said in New York yesterday, 20 April 2017.

Japanese manufacturing activity expanded at a stronger pace in April as export orders surged, a preliminary survey showed, in a further sign of robust global demand. The Flash Markit/Nikkei Japan Manufacturing Purchasing Managers Index (PMI) rose to 52.8 in April on a seasonally adjusted basis, from a final 52.4 in the previous month.

US stocks closed higher yesterday, 20 April 2017 on rising expectations for first-quarter corporate profits.

Markets are awaiting several economic indicators from Europe later in the session, including Eurozone manufacturing and services figures for April and British retail sales for March, to be followed by US manufacturing and services data for April and existing home sales for March.

Powered by Capital Market - Live News

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22