Mumbai (Maharashtra) [India], May 17 (ANI): Domestic fairness indices opened flat on Wednesday, monitoring weak international cues. The key indices within the US markets have been all within the crimson and Asian shares’ benchmark indices confirmed blended cues. The home traders have been on a cautious observe and consultants are of the view that one may even see prolonged profit-booking within the subsequent few periods, as traders would give attention to international temper.
The BSE 30-share Sensex misplaced 115 to 61,817.61 and NSE’s Nifty 50 dropped 112.35 to 18,286.50.
In sectoral indices, Bank Nifty rose 37.95 factors or 0.09 per cent to 43,941.65 and Nifty IT fell 143.55 factors or 0.51 per cent to twenty-eight,072.45.
In Asian markets, Hong Kong’s Hang Seng went down 59 factors, Japan’s Nikkei surged 196 factors, China’s Shanghai dropped 4 factors and Thailand Set surged 2 factors.
In the American markets, Dow Jones went down 336 factors, Nasdaq misplaced 22 factors, NYSE dropped 193 factors and S and P 500 misplaced 26 factors.
In European markets, BEL, CAC and Amsterdam Exchange have been buying and selling within the constructive territory.
Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, “After witnessing, a smart move in the last couple of days, the market is witnessing profit booking, especially in heavyweights from higher levels. Global cues have remained mixed as US debt ceiling negotiations are ongoing, keeping investors cautious. On the domestic front, a healthy result season and consistent FII buying have been providing support to the market. The overall trend remains positive, however, some consolidation may not be ruled out given the sharp-up move in the last few weeks.”On Tuesday, key benchmark index BSE Sensex declined 413.24 factors to settle at 61,932.47 even after starting the commerce on a agency observe. During the day, it fell 498.3 factors to 61,847.41. The NSE Nifty went decrease by 112.35 factors or 0.61 per cent to finish at 18,286.50.
Ajit Mishra, VP – Technical Research, Religare Broking, “The profit taking was witnessed across the board wherein auto, financials and banking were among the top losers. Meanwhile, the broader indices outperformed the benchmark and closed almost unchanged.”Mishra stated, “Nifty may witness a further dip however the downside seems capped, thanks to prevailing buoyancy in key sectors. We thus recommend utilising this phase to accumulate quality stocks till Nifty upholds 18,050.”Pravesh Gour, Senior Technical Analyst, Swastika Investmart, “The market closes at the day’s low after falling in the previous hour, with Nifty below 18,300. The midcap index closes higher but is down from its 52-week high of 33,045. The Sensex falls 413 points to 61,932 and the Nifty 126 points to 18,287. Nifty Bank slips 168 points to 43,904, while the Midcap Index gains 83 points to 32,793.”Bank of Baroda closed 2 per cent increased after quarterly revenue rises 168 per cent to Rs 4,775 crore on Tuesday. On Wednesday morning, shares of Bank of Baroda have been buying and selling 1.45 per cent up at Rs 189.15 apiece on BSE.
Oil futures steadied on Tuesday as help from a better international demand forecast from the International Energy Agency (IEA) was countered by weaker-than-expected Chinese financial knowledge. (ANI)