Sensex, Nifty end flat in cautious trade, GDP print weighs

Mumbai: Benchmark Sensex remained range-bound in choppy trade today, ending a shade lower at 31,137.59 as investors preferred to stay light amid a drumbeat of grim macroeconomic data.

The 30-share index shed 8.21 points, or 0.03 percent, to end at 31,137.59 after shuttling between 31,213.12 and 31,062.02.

The broader NSE Nifty too finished 5.15 points, or 0.05 percent down at 9,616.10 after slipping below the 9,600-mark to touch a low of 9,589.90.

Sentiment was dented following a slew of disappointing macroeconomic data, brokers said.

India lost the tag of the fastest growing major economy to China in the March quarter with a GDP growth of 6.1 percent, which pulled down the 2016-17 expansion to 7.1 percent.

The growth of eight core sectors declined to 2.5 percent in April, while manufacturing PMI slumped to a three-month low in May.


"Market may consolidate as a slow pace in economic growth at 6.1 percent in Q4-FY17 and a slip in April eight core sector growth to 2.5 percent has dampened investor sentiment.

Reuters

Reuters

"At close, the market covered some losses on expectation that RBI is likely to be less hawkish than it was in the previous policy on account of moderation in inflation and slow growth," said Vinod Nair, Head of Research, Geojit Financial Services.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth Rs 1,048.93 crore, while domestic institutional investors (DIIs) sold shares worth a net Rs 939.54 crore yesterday, as per provisional data.

Asian markets ended mixed. Shanghai Composite Index declined 0.50 percent, South Korea ended 0.12 percent lower, while Japan's Nikkei gained 1.07 and Hong Kong's Hang Seng rose up 0.58 percent.

European markets were higher as investors eyed oil prices and next week's UK elections.

In Europe, Paris CAC gained 0.66 percent, Germany's Frankfurt DAX was up 0.50 percent and London's FTSE rose 0.38 percent.


Back home, the S&P BSE Mid-Cap index provisionally rose 0.48 percent, while the Small-Cap index advanced 1.02 percent. Both these indices outperformed the Sensex.

Among the sectoral indices, oil&gas tumbled 1.58 percent, energy 1.10 per cent, metal 1.12 percent, bankex 0.48 percent, power 0.26 percent and utilities 0.25 per
cent.

On the other hand, FMCG gained 1.18 percent, healthcare 1.17 percent, capital goods 0.92 percent, industrials 0.75 percent and consumer durables 0.47 percent.

In the 30-share Sensex pack, 14 ended with losses, while 16 rose.

Major laggards included ICICI Bank which slumped 1.92 percent, followed by ONGC 1.81 percent, Gail 1.77 percent, Tata Steel 1.39 percent, Bharti Airtel 1.25 percent, Maruti 0.99 percent, Lupin 0.95 percent, Axis Bank 0.91 percent and Reliance 0.90 percent.

Smart movers included Adani Ports which gained 3.20 percent, HUL 2.68 percent, L&T 1.82 percent, Sun Pharma 1.42 percent, ITC 0.87 percent, Wipro 0.86 percent, HDFC 0.79 percent and Coal India 0.68 percent.

The market breadth remained positive as 1,412 stocks ended higher, 1,267 finished in red while 179 ruled steady.

The total turnover fell to Rs 3,385.87 crore from Rs 4,066.28 crore yesterday.


Published Date: Jun 01, 2017 08:12 pm | Updated Date: Jun 01, 2017 08:12 pm



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