INSUBCONTINENT EXCLUSIVE:
Sensex, Nifty: Thirty four stocks on the 50-scrip Nifty index finished in the negative zoneThe stock markets started the week on a lower
note, with the BSE Sensex falling 159 points to close at 35,264
National Stock Exchange (NSE) benchmark index Nifty shed 57 points to settle at 10,657
The indices were dragged lower by a selloff witnessed in metal stocks, with the NSE's sectoral index for metal stocks - Nifty Metal -
Profit booking in largecap stocks caused some correction, analysts said
investors, thus adding to the fall in domestic equity markets
Thirty four stocks on the 50-scrip Nifty index finished in the negative zone.2
Top laggards were Hindalco Industries, Adani Ports, NTPC and Bharti Airtel, ending with losses of between 3 per cent and 3.5 per
At the same time, it has resulted in oversold positions too
So possibility of intermediate rebound can't be ruled out," said Jayant Manglik, president, Religare Broking
He reiterated advice to keep a close watch on global markets for further signals.4
"Profit-booking is seen in the largecap spacewhere there is a little bit of correction," news agency Reuters cited Siddharth Sedani, vice
Shares in Tata Steel, which signed an agreement with Germany's Thyssenkrupp last week to establish a long-expected steel joint venture,
The largest deal in Europe's steel industry since the takeover of Arcelor by Mittal in 2006 - the 50-50 joint venture 'Thyssenkrupp Tata
Steel' - will have about 48,000 workers and about 17 billion euros ($19.9 billion) in sales.6
2 per cent while Tata Motors fell 1 per cent
Maruti Suzuki India fell 0.2 per cent.7
IT stocks provided some support to the broader indices, with a 0.6 per cent rise in the NSE sectoral index
Infosys settled at a gain of 2.3 per cent
Infosys was also the top gainer on the Nifty.8
Meanwhile, the Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, rose to 53.1 in June from May's 51.2, the highest
increasing global trade tensions, which are worrying manufacturers in many countries.9
Foreign portfolio investors (FPIs) sold shares worth a net Rs 157.15 crore, while domestic institutional investors (DIIs) bought equities to
the tune of Rs 2,262.83 crore on Friday, according to provisional data from the NSE.10
Asian share markets were weighed down by fresh losses in China and crude was seen taking a spill after US President Donald Trump tweeted
that Saudi Arabia had agreed to lift oil production by "maybe up to 2,000,000 barrels"
