D-street remains choppy; RIL Q2 numbers eyed Analysis for Oct 16, 2015

Posted By: Religare
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Indian equity benchmarks continued to trade choppy during the late noon trading session as sentiments of the traders remained down-beat on report that India"s exports contracted for the 10th straight month by 24.33 per cent in September to USD 21.84 billion due to steep fall in shipments of petroleum productions, iron ore, and engineering goods.

At 14:20 hours, the 30-share benchmark index was trading marginally up by 68.29 points or by 0.25 per cent at 27078.43, while the NSE Nifty was at 8177.45 down by 2.05 points or by 0.03 per cent.

Meanwhile, investors keenly eyed the Q2 corporate earnings of Reliance Industries, scheduled to release after market hours.

In the choppy trade so-far, Sensex touched an intraday high of 27080.53 and an intraday low of 26917.12, while the NSE Nifty touched an intraday high of 8196.2 and an intraday low of 8147.65.

Major gainers on the D-street included Larsen & Toubro Ltd. (Rs. 1593.50,+2.11%), Tata Motors Ltd. (Rs. 387.90,+1.89%), NTPC Ltd. (Rs. 127.25,+1.76%), Oil And Natural Gas Corporation Ltd. (Rs. 263.85,+1.38%), Maruti Suzuki India Ltd. (Rs. 4430.25,+1.15%), among others.

However, continued selling pressure was witnessed in stocks including Lupin Ltd. (Rs. 2050.50,-2.32%), Tata Steel Ltd. (Rs. 252.15,-1.23%), Bharti Airtel Ltd. (Rs. 347.80,-1.04%), Coal India Ltd. (Rs. 338.90,-0.85%), Hindustan Unilever Ltd. (Rs. 784.60,-0.77%), among others.

Among the sectors, Consumer goods and oil & gas indices were on the buyer"s radar, trading up by 1.42 per cent and 1.31 per cent respectively.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2876 shares traded, 1348 shares advanced, 1359 shares declined while 169 remained unchanged.

On the global front, Asian peers ended the day on a positive note amid fresh stimulus hopes in Asian countries in the wake of recent weak economic data. Also, US stocks surged yesterday as falling US consumer prices added to the batch of disappointing economic data which reduced the odds of an interest-rate increase this year by the Federal Reserve. Meanwhile, European counters were also trading firm with CAC, DAX and FTSE all trading in green with a gain of around half a per cent.

Story first published: Friday, October 16, 2015, 14:48 [IST]
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