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Markets off day's high on weak European cues

Markets have come off their day's high after investors booked profit amid weak European cues


SI Reporter  |  Mumbai 

Benchmark share indices came off their day's high after investors booked profits after European shares pared early gains.

At 2:25pm, the S&P BSE Sensex was up 160 points at 27,305 and the Nifty50 was up 49 points at 8,377.

Foreign institutional investors were net sellers in equities worth Rs 188 crore on Friday, as per provisional stock exchange data.

European shares pared early gains and were trading with marginal losses. The CAC-40, DAX and FTSE were down 0.2%-0.6% each.

ITC was the top Sensex loser down nearly 3% after the stock was quoted ex-bonus from Friday. Its peer HUL was marginally down.

Two-wheeler majors Bajaj Auto and Hero MotoCorp were trading with marginal losses after weak sales in June.

Coal India was up over 2%. The company said it has achieved production of 42.72 million tonnes in June as against a target of 43.31 mt for the month.

Among other shares, FDC was up over 5% on the BSE after the company announced that US Food and Drug Administration (USFDA) has completed inspection at its manufacturing unit situated at Waluj, Maharashtra.
(Updated at 12:30pm)
continued to trade firm in noon deals on Monday even as profit booking in FMCG shares capped further upside.

At 12:30pm, the S&P BSE Sensex was up 222 points at 27,367 and the Nifty50 was up 65 points at 8,393. In the broader market, the BSE Midcap and Smallcap indices were up 1%-1.2% each.

Tata Motors was up over 3% after the company said that its total passenger and commercial vehicle sales rose 8% to 44,276 vehicles in June 2016. The company sold 40,869 vehicles in June 2015.

ONGC was up over 4% as hike in kerosene prices would lead to a lower subsidiy burden for the state-owned oil exploration major. Oil India was up nearly 4%.

Other gainers include, BHEL and Adani Ports which gained over 4% each.

Bajaj Auto was marginally down after it reported 4% decline in total sales in June at 3,16,969 units against 3,31,317 in the same month of 2015.

Hero MotoCorp also eased 0.3% on marginal sales growth of 1.3% in June 2016 at 5.49 lakh units compared to June 2015.

(Updated at 10:45am)

continue to trade strong for the sixth day in a row as participants indulged in broad based buying across the sectors. A firm rupee, progress of monsoons and strong global cues further boosted sentiments.



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First Published: Mon, July 04 2016. 14:25 IST