Market Closing Podcast on June 26, 2018
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Moneycontrol News
The S&P BSE Sensex closed flat with a positive bias on Tuesday but the big action was taking place in individual stocks. Over 300 stocks on the BSE hit a fresh 52-week low while on the NSE the number was nearly 200 stocks.
Stocks which hit a fresh 52-week low on the BSE include stocks like Force Motors, Care Ratings, Century Textiles, UPL, Finolex Industries, Kajaria Ceramics, ICICI Securities, Tata Motors, NTPC, Aban Offshore etc. among others.
The S&P BSE Sensex finally closed 19 points higher or 0.06 percent at 35,490 while the Nifty50 rose just 6 points to close at 10,769. The Nifty50 failed to reclaim 10,770-10800 levels in trade today but did manage to bounce back after hitting its 20-days exponential moving average (EMA).
“The equity benchmark indices ended Tuesday’s session marginally in the green amid intra-day volatility. The sectoral indices exhibited a mixed trend. While IT, FMCG, Consumer Durables and Oil & Gas outperformed, closing in the green, Power, Realty, Healthcare & Auto witnessed selling pressure,” Jayant Manglik, President, Religare Broking Ltd told Moneycontrol.
“The escalating global trade tensions between the US and other major economies could keep the Indian markets choppy and volatile in the coming sessions.
The progress of monsoon and movement of crude oil prices & currency (INR vs USD) will also be closely monitored by the market participants,” he said.
Sectorally, the S&P BSE Telecom index rose 1.09 percent, followed by the S&P BSE Consumer Durable index which rose 0.5 percent, and the BSE oil & gas index closed 0.08 percent higher.
The S&P BSE Energy index slipped 1.1 percent, followed by the S&P BSE Power index which dropped 0.82 percent, and the S&P BSE Healthcare index was down 0.58 percent.
The S&P BSE Midcap index slipped 0.33 percent while the S&P BSE Smallcap index dropped 0.59 percent.
Top Sensex gainers include Coal India (up 2.1 percent), Maruti Suzuki India (up 1.8 percent), TCS (up 1.7 percent), Bharti Airtel (up 1.75 percent), and Asian Paints (up 1.5 percent).
Top Sensex losers include names like Tata Motors (down 4.3 percent), RIL (down 2.4 percent), Power Grid (down 1.8 percent), Tata Steel (down 1.6 percent), and M&M (down 0.6 percent).