Market Closing Podcast on July 02, 2018
Share
Subscribe
Moneycontrol News
The S&P BSE Sensex reversed half of Friday's gains to end the first session of the week lower by half a percent on Monday, dragged by global weakness due to trade tensions and political uncertainty in Germany.
The 30-share BSE Sensex fell 159.07 points to 35,264.41 and the 50-share NSE Nifty shed 57 points to 10,657.30. About 1,643 shares declined against 966 advancing shares on the BSE.
However, the pain was seen in the small & midcap stocks. Nearly 300 stocks on the BSE hit a fresh 52-week low which include names like Force Motors, Dalmia Bharat, Century Textiles, Apar Industries, Finolex Industries, Capital First, and Kajaria Ceramics etc. among others.
"Markets corrected until noon to reach its lowest point at 1 pm, a rally which began at 1 pm reversed markets course and took the indices higher recovering most of the losses for the session. FII fund outflows continue in July, in total, they have sold close to 47k crores for this year already," Nikhil Kamath, Co-Founder, Zerodha told Moneycontrol.
The S&P BSE Sensex closed 159 points lower at 35,264 while the Nifty50 ended 57 points down at 10,657.
"Sectorally IT continues to outperform with Infosys the best performer of the session, NTPC, Ambuja cement, and Bharti were the worst performers for the session. Overall we continue to maintain a bearish outlook and would not advocate entering fresh longs at his point," he said.
Sectorally, the S&P BSE IT index rose 0.8 percent, followed by the S&P BSE Consumer Durable index which gained 0.53 percent.
The S&P BSE Telecom index slipped 2.6 percent, followed by the S&P BSE Metal index which dropped 1.8 percent, the S&P BSE Power index slipped 1.69 percent, and the S&P BSE Realty index dropped 1.29 percent.
The S&P BSE Midcap index slipped 0.75 percent, and the S&P BSE SMallcap index slipped 0.70 percent.
Top Sensex gainers include names like Asian Paints, Infosys, Vedanta, Bajaj Auto, ICICI Bank, Sun Pharma, and TCS.
Top Sensex losers include names like Bharti Airtel, Adani Ports, Hero MotoCorp, HDFC Bank, ONGC, Coal India, RIL, and Tata Steel.