INSUBCONTINENT EXCLUSIVE:
Stock Market Update: Sensex, Nifty recovered in trade but continued to swing between gains and losses.After a flat start, the domestic
equity benchmarks recovered in trade but continued to swing between gains and losses amid mixed global cues
At 10:35 am, the SP BSE Sensex traded at 36,331.42, up 7.65 points or 0.02 per cent while the broader Nifty50 was at 10,938.80 level, with a
gain of 1.95 points 0.02 per cent
Oil marketing companies rallied as oil prices climbed after hitting three-month lows
Hindustan Petroleum and Indian Oil Corporation were the top two gainers in the Nifty50 index as they rose 3.18 per cent and 2.41 per cent
Among the other gainers in the Nifty50 index were Adani Ports (up 1.92 per cent), ICICI Bank (up 1.79 per cent) and Sun Pharma (up 1.32 per
cent).Hindustan Unilever, which reported a 19 per cent rise in its June quarter net profit, was the top laggard on both the benchmarks as it
traded over 3 per cent lower
Among the other losers on the Nifty50 were Bajaj Finance (down 1.31 per cent), Bharti Airtel (down 1.12 per cent), IndusInd Bank (down 0.97
per cent) and NTPC (down 0.96 per cent)."The view on Nifty seems to be negative as global cues have ended slightly on the downside and also
the effect of wholesale inflation, which touched over 4-year highs of 5.77 per cent seems to continue," said Dyaneshwar Padwal, AVP,
Technical Analysis, KIFS TradeCapital.In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan was 0.5 per cent lower,
according to a report by news agency Reuters
Overnight on Wall Street, the Dow edged up 0.2 per cent but the SP 500 lost 0.1 per centBrent crude prices rose from a three-month low on
Tuesday after more oil workers went on strike in Norway, supporting a market that has been dominated by oversupply issues in recent days
Brent crude futures had climbed 28 cents, or 0.4 per cent, to $72.12 a barrel by 0331 GMT or 9 am IST
They fell 4.6 per cent on Monday, at one point touching their lowest since mid-April.According to provisional data from the National Stock
Exchange (NSE), foreign portfolio investors sold net equities worth Rs 625.68 crore on Monday
Domestic institutional investors also sold shares worthRs 70.3 crore
