Thursday, June 16, 2016

Stock Trading Tips - Sensex falls over 250 points; banking, realty drag

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The BSE Mid-cap Index is trading down 0.61% at 11,336, whereas BSE Small-cap Index is trading down 0.72% at 11,381. The INDIA VIX is up 6.78% at 18.2125.

The stock markets extend losses on the back of selling pressure in realty, telecom, banking, IT, FMCG and capital goods stocks.

The indices slipped tracking negative trend seen in Asian markets after US Federal Reserve and Japan's central bank kept their respective monetary policies steady. The BSE Sensex opened 40.31 points down at 26686.0.3, while Nifty 50 index opened 25.95 points down at 8,180.65.

The S&P BSE Sensex is trading at 26,436 down
289 points, while NSE Nifty is trading at 8,109 down 98 points.

The BSE Mid-cap Index is trading down 0.61% at 11,336, whereas BSE Small-cap Index is trading down 0.72% at 11,381.

GAIL, Wipro, Lupin and Asian Paints are among the gainers, whereas Maruti Suzuki, Bharti Airtel, NTPC, Bajaj-Auto, ITC and Adani Ports are losing sheen on BSE.

All sectors showing weakness on BSE. The INDIA VIX is up 6.78% at 18.2125.

Out of 1,813 stocks traded on the NSE, 1,144 declined, 415 advanced and 254 remained unchanged today.

A total of 56 stocks registered a fresh 52-week high in trades today, while 16 stocks touched a new 52-week low on the NSE.

Sterlite Techn jumped 5% to Rs. 81.4 on Thursday. The company has fixed June 16 as record date for determining eligible shareholders for the proposed demerger, as per reports.

Indian Hotels rallied 2.5% to Rs.130.60 on the BSE amid reports that foreign brokerage house - Morgan Stanley upgraded the stock to overweight from underweight earlier. Morgan Stanley almost doubled the target price for the stock to Rs.160 from Rs.83 earlier.

Maruti Suzuki dropped 3% to Rs.4,077. The stock is top Nifty loser. A strong yen adversely impacts Maruti Suzuki India's operating profit margin. Japanese yen gains beyond 105/$ for first time since Sept 2014 after Bank of Japan kept policy unchanged.

Deccan Cements Ltd rose 3.2% to Rs.854 after the company said in a notice to BSE that ICRA has upgraded the rating of the company to A from BBB+ citing improvement in operational and financial performance of the company in fiscal
year 2016.
 

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