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Subdued trade continues at D-Street on global weakness Analysis for Sep 07, 2015

By Religare
|

Indian equities were trading little changed with a positive bias in the late morning deals on Monday amid weak cues from other Asian peers. However, buying in realty, banking, auto and healthcare sector stocks supported sentiment.

At 11:18 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 25214.04, up by 12.14 points or 0.05 per cent while the NSE Nifty was at 7646.6, down by 8.45 points or 0.11 per cent.

 

Investors remained cautious ahead of the upcoming Federal Reserve monetary policy meet on September 15-16, where the world"s top central bank may offer some cues over the timing of a maiden interest rate hike in nine years.

The top gainers of the BSE Sensex pack were Housing Development Finance Corporation Ltd. (Rs. 1170.90,+2.52%), Tata Motors Ltd. (Rs. 327.60,+1.47%), Cipla Ltd. (Rs. 657.35,+1.22%), Maruti Suzuki India Ltd. (Rs. 4109.05,+0.98%), ITC Ltd. (Rs. 319.10,+0.84%), among others.

Major show spoilers were GAIL (India) Ltd. (Rs. 274.10,-2.42%), Coal India Ltd. (Rs. 339.50,-2.09%), Lupin Ltd. (Rs. 1824.90,-1.85%), Bharat Heavy Electricals Ltd. (Rs. 203.05,-1.74%), Bharti Airtel Ltd. (Rs. 344.60,-1.50%), among others.

The market breadth, indicating the overall health of the market, was weak. On BSE, out of the total 2197 shares traded, 803 advanced while 1321 shares declined and 73 remained unchanged.

On the global front, most of the Asian markets were trading in the red as traders were unsure over the timing of a US interest rate hike as Friday"s jobs data signaled slight weakness in the health of the world"s biggest economy. Non-farm payrolls in the US, climbed by 173,000 in August, compared to an upwardly revised 245,000 gain in July, and below expectations of a 217,000 rise.

Story first published: Monday, September 7, 2015, 12:00 [IST]
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