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Subdued trade continues at D-Street; Nifty hovers around 8,560 mark Analysis for Aug 06, 2015

By Religare
|

Indian equities were trading little changed, with a slightly positive bias on Thursday tracking mixed trend at other Asian peers. Investors remained cautious and indulged in profit booking ahead of release of monthly jobs data due on Friday for a sign of the health of the American economy which is likely to provide cues for an impending rate hike by the Fed. At 11:16 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 28219.73, down by 3.35 points or 0.01 per cent while the NSE Nifty was at 8564.35, down by 3.6 points or 0.04 per cent.

 

Also, investors keenly eyed the Q1 results of Cummins India, Tata Global Beverages, Arvind and Motherson Sumi Systems to be unveiled today.

The selling pressure was witnessed mainly in the FMCG, auto, banking and IT sector stocks.

Major show spoilers were ITC Ltd. (Rs. 325.60,-1.84%), Coal India Ltd. (Rs. 433.50,-1.04%), Wipro Ltd. (Rs. 569.70,-0.85%), ICICI Bank Ltd. (Rs. 308.55,-0.82%), Maruti Suzuki India Ltd. (Rs. 4449.35,-0.48%), among others.

The top gainers of the BSE Sensex pack were Dr. Reddy's Laboratories Ltd. (Rs. 4295.00,+2.39%), Lupin Ltd. (Rs. 1708.90,+1.71%), Cipla Ltd. (Rs. 725.85,+0.95%), Bharti Airtel Ltd. (Rs. 420.00,+0.74%), Oil And Natural Gas Corporation Ltd. (Rs. 272.05,+0.74%), among others.

The market breadth, indicating the overall strength of the market, was positive. On BSE, out of the total 2459 shares traded, 1268 advanced while 1092 shares declined and 99 remained unchanged.

On the global front, Asian markets were trading mixed as a pickup in China services growth eased concerns over the outlook in the world"s second biggest economy, but speculation of an imminent hike in US interest rates limited gains.

Story first published: Thursday, August 6, 2015, 12:00 [IST]
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