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Mid-Session: Market slips in red amid profit booking; ICICI Bank, Maruti down Analysis for Aug 06, 2015

By Religare

Tracking mixed cues from Asian peers, the Indian equities retreated on Thursday as investors booked some profit across banking, metal, power, tech and auto stocks.

At 12:25 hours, the BSE SENSEX was trading at 28204.68, down by 18.4 points or by 0.07 per cent, while NSE Nifty was quoting 12.35 points lower at 8555.6.

In lack of any major development on domestic front, investors turned cautious ahead of release of US monthly jobs data due on Friday for a sign of the health of the world"s largest economy which is likely to provide cues for an impending rate hike by the Fed. Also, investors keenly eyed the Q1 results of Cummins India, Tata Global Beverages, Arvind and Motherson Sumi Systems to be unveiled today.


In the choppy trade so-far, the BSE Sensex touched an intraday high of 28314.4 and intraday low of 28163.69, while the NSE Nifty touched intraday high and intraday low of 8590.5 and 8551.5, respectively.

Leading the decline on the D-Street were ITC Ltd. (Rs. 325.45,-1.88%), Coal India Ltd. (Rs. 432.00,-1.38%), ICICI Bank Ltd. (Rs. 308.70,-0.77%), Maruti Suzuki India Ltd. (Rs. 4438.40,-0.72%), Wipro Ltd. (Rs. 571.45,-0.55%), among others.

However, some buying was witnessed in Dr. Reddy's Laboratories Ltd. (Rs. 4295.00,+2.39%), Lupin Ltd. (Rs. 1707.90,+1.65%), Hindalco Industries Ltd. (Rs. 109.35,+0.97%), Larsen & Toubro Ltd. (Rs. 1791.35,+0.72%), Cipla Ltd. (Rs. 724.15,+0.72%), among others.

On the sectoral front, FMCG and auto indices were among top losers on BSE, losing 1.24 and 0.19 per cent, respectively.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2629, shares advanced were 1141 while 1381 shares declined and 107 were unchanged.

On the global front, the Asian equities were trading mixed with China"s Shanghai Composite and Nikkei 225 were trading higher, while Hang Seng witnessed selling pressure. China"s Shanghai Composite extended Tuesday"s advance after the Services PMI rose to the highest level in 11 months at 53.8 in July from 51.8 in June. Japan"s Nikkei 225 posted handsome gains as a weaker yen boosted the lure for exporter stocks.

Story first published: Thursday, August 6, 2015, 13:12 [IST]
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