Wednesday, 25 April, 2018

Sensex, Nifty open in red over mixed Asian cues

The BSE Senex had gained 1,173.88 points in the previous seven sessions The BSE Senex had gained 1,173.88 points in the previous seven sessions
Velma Reese | 16 April, 2018, 22:47

The BSE market breadth was, however, bearish with 1,430 declines and 1,232 advances.

Share markets started firmer in Asia on Monday amid relief US -led strikes on Syria looked like being a one-off event that avoided a direct confrontation with Russian Federation, weighing on oil prices and safe-haven Treasuries. Midcaps have fared better than benchmark indices, hinting at revival in risk appetite.

The key Indian equity markets traded marginally lower on Monday afternoon weighed on by heightened geo-political tensions in the Middle East, along with broadly negative cues from the Asian markets. IMD's monsoon forecast will further boost overall market sentiment.

Infosys Ltd shares fell as much as 6% after the company lowered its operating margin outlook and its plan to sell Panaya and Skava.

On the other hand, stocks of Tata Motors suffered the most by crashing 4.96 per cent after Jaguar Land Rover said it is planning to cut jobs to scale back production at some of its United Kingdom sites.

Podcast | BJP vs Congress: Here's how things stack up in Karnataka
Congress workers in Bagalkot district express displeasure with the KPCC for announcing ticket to tainted former minister HY Meti. He wondered why the Congress President did not take any action against his party chief in Jammu and Kashmir for the same reason.

Shares of one of India's biggest software firms, Infosys fell 3.86% to Rs 1,123.90 on less-than-expected FY19 revenue guidance. It was the top loser in the Nifty50 pack of stocks.

Among gainers, Kotak Mahindra Bank, Hero MotoCorp and Adani Ports were the star performers on Sensex and rallied in the range of 1 per cent to 2 per cent. But, a weak dollar against major global currencies capped some losses, forex dealers said. USA stock futures were pointing to a higher opening on Wall Street.

Among BSE sectoral indices, IT index fell the most by 1.03%, followed by TECk 0.9%, oil & gas 0.6% and consumer durables 0.3%.

Meanwhile, domestic institutional investors (DIIs) bought equities worth a net Rs 306.05 crore on Friday, as per provisional data. The S&P BSE Small-Cap index rose 99.00 points or 0.55 per cent to settle at 17,981.99.

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