Sensex Clocks Longest Monthly Rally In Two Years
Closing Bell: Sensex, Nifty Little Changed Ahead Of GDP Report
Indian equity benchmarks were little changed as gains in IT and pharma stocks was offset by losses in Reliance Industries and private sector lenders ahead of June quarter GDP data.
The S&P BSE Sensex fell 0.12 percent or 45 points to 38,645 while the NSE Nifty 50 index was little changed at 11,680.
The Sensex rose for a fifth month in a row posting its longest rally since August 2016, Bloomberg data showed.
Eleven of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Healthcare index's 2.2 percent gain. On the flipside, the S&P BSE Energy index was top loser, down 1.5 percent.
Welspun India, Dr Reddy’s Labs Among Fab Four Stocks Of The Day
- Dr. Reddy’s Labs: The Hyderabad-based drugmaker rose as much as 4.8 percent to Rs 2,495 after Bank of America Merrill Lynch maintained its ‘Buy’ call on the stock for and raised its target price to Rs 2,900 from Rs 2,475, indicating a potential upside of 22 percent.
- PNC Infratech: The Agra-based infrastructure construction company rose as much as 7.7 percent to Rs 175 after was declared as the lowest bidder for EPC project from Maharashtra State Road Development Corporation worth Rs 1,999.52 crore.
- Mindtree: The Bengaluru-based IT company rose as much as 6.15 percent to record high of Rs 1,117. IT companies were in focus after rupee dropped to record low of 71 per dollar.
- Welspun India: The Mumbai-based textile maker rose as much as 12 percent to Rs 77.45 on heavy trading volumes. Trading volume was 6.6 times its 20-day average.
Stocks Slip On Trump Trade Talk; EM Under Pressure
European stocks fell following a downbeat session in Asia after U.S. President Donald Trump stepped up his tough talk on trade. Emerging-market shares took another hit, while the dollar and Treasuries held steady.
Market Check: Sensex, Nifty Fall Ahead Of GDP Data
Indian equity benchmarks declined for a third straight day led by decline in Reliance Industries, Yes Bank and HDFC ahead of June quarter GDP report due after market hours.
The S&P BSE Sensex fell 0.2 percent to 38,600 and the NSE Nifty 50 index slipped 0.17 percent to 11,656.
Ten out of 19 sector gauges compiled by BSE were trading lower led by the S&P BSE Energy index's 1.7 percent drop. On the other hand, the S&P BSE Healthcare index was top gainer, up 2 percent, tracking weakness in rupee against the U.S. dollar.
The overall market breadth was neutral as 1,259 shares were advancing while 1,240 were declining on the BSE.
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Reliance Industries Falls For Third Day On High Trading Volumes
Shares of the Mukesh Ambani-led company fell for a third day in a row on the back of high trading volumes.
The stock fell as much as 2.8 percent to Rs 1,238, trading volume was 2.1 times its 20-day average, Bloomberg data showed.