Sensex, Nifty turn choppy; HCL Tech rallies 4 pc

Sensex, Nifty turn choppy; HCL Tech rall...

Domestic equity benchmarks BSE Sensex and NSE Nifty were trading on a choppy note early Friday amid uncertainty over US-China trade deal and continued foreign fund outflow.

After opening over 150 points higher, the 30-share index turned cautious and fell 17.32 points, or 0.15 per cent, to 37,541.59. The broader NSE Nifty was trading below the 11,300 level at 11,285.75. 

or 0.51 per cent, to settle at 11,301.80.

Among the top losers in early session were HCL Tech, Asian Paints, Bajaj Finance, HUL, IndusInd Bank, PowerGrid, L&T, Kotak Bank, ITC and Sun Pharma, shedding up to 4.31 per cent.

On the other hand, RIL, Tata Motors, HDFC twins, Axis Bank, Bharti Airtel, ICICI Bank and TCS were the top gainers, rising up to 1.04 per cent.

According to traders, investors were cautious ahead of the outcome of the 11th round of talks aimed at ending the trade war between the world's two largest economies.

Trump on Thursday accused China of trying to renegotiate a trade deal that has been negotiated after months of efforts and asserted he will not let that happen.

However, he said last night he received a "very beautiful letter" from the Chinese President Xi Jinping, and that it is possible that the US and China will enter into a trade deal.

Meanwhile, the Trump Administration Friday imposed increased tariffs on import of Chinese products over USD 200 billion worth from 10 per cent to 25 per cent.

Sustained foreign fund outflow too weighed on investor sentiment here, traders said.

Foreign institutional investors (FIIs) sold equity worth Rs 655.36 crore on Thursday, while domestic institutional investors (DIIs) purchased shares to the tune of Rs 677.91 crore, provisional data available with stock exchanges showed.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading higher in early trade.

On Wall Street, S&P500 and Nasdaq Composite indices ended lower on Thursday.

On the currency front, the rupee depreciated 7 paise to 70.01 against the US dollar.

Brent crude futures, the global oil benchmark, were trading 0.33 per cent lower at USD 70.62 per barrel.


PostedOn: 10 May 2019 Total Views: 88




Indices come down from record highs; Sen...

Indices come down from record highs; Sensex slumps...

Benchmark indices took U-turn from record high levels touched during early trade on Tuesday, with the BSE Sensex tripping nearly 383 points and the NSE Nifty shedding over 119 points as investors hurried up to book profits. An intense selling was seen, barring initial hours, across sectors after mar...

21 May 2019

Sensex vaults 1,422 points as exit polls...

Sensex vaults 1,422 points as exit polls forecast ...

Benchmark Sensex zoomed over 1,422 points and the NSE Nifty surged 421 points on Monday after most exit polls showed that the Narendra Modi-led NDA is returning to power with a thumping majority in the Lok Sabha elections. The 30-share index ended 1,421.90 points, or 3.75 per cent, higher at 39,352....

20 May 2019

Sensex jumps over 800 points as exit pol...

Sensex jumps over 800 points as exit polls suggest...

The exit poll results, which have showed a winning of BJP-led NDA in the 17thLok Sabha elections, are expected to have positive impact on the Stock market. Exit poll trends will set the tone for the equity markets in the initial part of the week, while the final outcome of the general elections on M...

20 May 2019

Sensex soars 537 points; Nifty reclaims ...

Sensex soars 537 points; Nifty reclaims 11,400-mar...

The BSE Sensex soared 537 points and the NSE Nifty reclaimed the 11,400 level on Friday in a broad-based rally led by banking and auto stocks ahead of exit poll results, despite global headwinds. The 30-share BSE benchmark closed 537.29 points, or 1.44 per cent, higher at 37,930.77. It hit an intra-...

17 May 2019

L&T net profit rises 7% to Rs 3,418 cror...

L&T net profit rises 7% to Rs 3,418 crore in Q4 on...

Larsen & Toubro, India's largest construction and engineering company, reported net profit growthof 7 percent year-on-year to Rs 3,418 crore in the fourth quarter ended March 31 driven by strong revenue growth and operational performance. The net profit in the corresponding quarter of the previo...

10 May 2019

RBI likely to cut rates again in June; n...

RBI likely to cut rates again in June; none therea...

The Reserve Bank of India (RBI) is likely to cut interest rates one more time in June before rising inflation pressures and elevated fiscal deficits leave little room for further accommodation in rest of the year, IHS Markit said on Wednesday. RBI had cut interest rate by 25 basis points each in Feb...

08 May 2019

RBI warned noteban's short-term impact; ...

RBI warned noteban's short-term impact; no effect ...

The RBI board, which included the present Governor Shaktikanta Das as a director, had warned of the short-term negative impact of demonetisation on the country's economic growth and observed that the unprecedented move will not have any material impact on tackling the black money menace. The board, ...

11 Mar 2019