Don’t miss the latest developments in business and finance.

Shares decline further after negative cues from Europe

Image
Capital Market
Last Updated : Jan 07 2017 | 12:01 AM IST

Key benchmark indices pared losses after hitting a fresh intraday low in mid-afternoon trade. At 14:17 IST, the barometer index, the S&P BSE Sensex, was down 14.27 points or 0.05% at 26,863.97. The Nifty 50 index was currently down 0.30 points at 8,273.50. The Sensex slipped after hitting the psychologically important 27,000 mark in mid-morning trade. Selling pressure increased after European stocks opened lower.

The Sensex and the Nifty, both, reversed direction soon after hitting their highest intraday level in almost two months in mid-morning trade. The Sensex fell 55.72 points, or 0.21% at the day's low of 26822.52 in mid-afternoon trade. The index rose 131.37 points, or 0.49% at the day's high of 27,009.61 in mid-morning trade, its highest level since 11 November 2016. The Nifty fell 16.05 points, or 0.19% at the day's low of 8,257.75 in mid-morning trade. The index rose 33.05 points, or 0.40% at the day's high of 8,306.85 in mid-morning trade, its highest level since 11 November 2016.

Among secondary barometers, the BSE Mid-Cap index was currently up 0.09%, outperforming the Sensex. The BSE Small-Cap index was currently down 0.12%. The decline in this index was lower than the Sensex's decline in percentage terms.

The market breadth, indicating the overall health of the market, was negative. On BSE, 1,372 shares fell and 1,232 shares rose. A total of 167 shares were unchanged.

Most realty shares edged lower. Anant Raj (down 2.74%), Oberoi Realty (down 2.34%), Sunteck Realty (down 2.14%), Unitech (down 2.1%), Godrej Properties (down 2.01%), D B Realty (down 1.66%), Phoenix Mills (down 1.51%), Peninsula Land (down 1.44%), Parsvnath Developers (down 0.88%), Mahindra Lifespace Developers (down 0.79%) and Omaxe (down 0.28%), edged lower. Housing Development and Infrastructure (HDIL) (up 0.08%), DLF (up 0.47%), Prestige Estates Projects (up 0.49%), Indiabulls Real Estate (up 0.63%) and Sobha (up 1.20%), edged higher.

Most sugar stocks edged higher. Oudh Sugar Mills (up 4.36%), Dwarikesh Sugar Industries (up 2.61%), Sakthi Sugars (up 2.51%), Balrampur Chini Mills (up 2.50%), Simbhaoli Sugars (up 2.27%), EID Parry (India) (up 1.52%), Rana Sugars (up 1.39%), Triveni Engineering & Industries (up 1.06%), Upper Ganges Sugar & Industries (up 0.50%), Dhampur Sugar Mills (up 0.36%), Bajaj Hindusthan Sugar (up 0.21%), Empee Sugars and Chemicals (up 0.14%) and Shree Renuka Sugar (up 0.07%), edged higher. KCP Sugar & Industries Corporation (down 0.16%) and DCM Shriram Industries (down 1.65%), edged lower.

More From This Section

Overseas, the main European bourses opened lower today, 6 January 2017. Most Asian stocks edged higher today, 6 January 2017. China's Shanghai Composite fell 0.35%. Japan's Nikkei 225 fell 0.34%. In US, the tech-heavy Nasdaq closed at a record yesterday, 5 January 2017, as the broader stock market finished lower, dragged down by a steep slide in the financial sector and major retailers. Mixed data on jobs also raised concerns a day before the closely watched December employment report due today, 6 January 2017.

In US, the private sector added 153,000 jobs in December, according to ADP, a rate that was below forecasts, while first-time jobless claims fell 28,000 in the latest week, dropping to a nearly 43-year low. Separately, a reading on the US services sector held steady at a 12-month high in December, suggesting growth in non-manufacturing activity, mainly the service sector, remains strong.

Powered by Capital Market - Live News

Also Read

First Published: Jan 06 2017 | 2:14 PM IST

Next Story