INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Domestic equity indices finished the last day of August FO series on a muted note as losses in bank, financial, auto and OMC
stocks undid the gains in metals, FMCG and IT shares
Bearish sentiment in other Asian markets hurt Dalal Street, too
treaties with other North American and European counterparts.
With tariffs beginning to hurt the Chinese economy, Asian stocks lost some of
sharp fall in the rupee and a surge in global crude oil prices also remained key overhangs on the market
The rupee touched a record low of 70.8625 on Thursday as the greenback fell for the fifth consecutive session on Thursday.
The Sensex ended
the session at 38,690, down 32.83 points, or 0.08 per cent, with 15 stocks advancing and 16 declining
The Nifty50 settled 15.10 points, or 0.13 per cent, lower at 11,676, with 25 stocks ending in the green and an equal number in the red.
The
BSE Midcap and Smallcap indices outperformed the Sensex, rising 0.43 per cent and 0.27 per cent, respectively
Let's walk you through the highlights of today's trade:
Who moved my SensexReliance Industries (RIL) emerged as the top drag,
contributing 66.48 points to the fall in Sensex
The scrip, falling for the second consecutive session, closed 1.57 per cent down at Rs 1,274.10
The stock snapped its eight-session gaining streak on Wednesday
Global brokerage firm Jefferies retained underperform rating on the oil-to-telecom behemoth
RIL, HDFC, HDFC Bank, Maruti Suzuki and IndusInd Bank also featured among the top drag on Sensex in that order.
ITC at 52-week highITC stock
touched a 52-week high of Rs 320, eventually settling 2.08 per cent higher at Rs 319.20
BofAML maintained a buy rating on stock with a price target of Rs 360 with 15 per cent potential upside
best quarter of FY18, has managed to impress
of cigarette volumes are giving the stock a lift, say analysts
It touched its fresh record low of 70.86 against the US dollar today
Higher crude oil prices and sustained demand for the US dollar has been adding to rupee's fall
Trade deficit- mostly because of India's unrelenting demand for oil- is a major reason behind rupee's fall
A widening trade deficit is dragging the rupee down as more imports require India to buy more foreign currencies
52-week highs lowsAs many as 58 stocks, including Aarvee Denims Exports, ABM International, Accelya Kale Solutions and Bombay Rayon
Fashions, hit 52-week lows on NSE on Thursday.
However, ITC, JSW Steel, Atul, City Union Bank, Delta Magnets, Electrosteel Steels and Fine
Organic Industries featured among 25 stocks that hit 52-week highs on NSE.
PNB, MTNL, RCapital among 53 stocks ready to rallyMomentum
indicator moving average convergence divergence, or MACD, on Thursday showed bullish crossovers on 53 counters on NSE
Among the stocks that saw bullish crossovers were Punjab National Bank, Bank of India, Reliance Capital, MTNL, Greaves Cotton and Syndicate
Bank.
The MACD is known for signalling trend reversal in a traded security or index
The stocks included NCC, Voltas, Bajaj Finance, Pidilite Industries and Havells India
Market experts say the MACD alone may not be a sufficient indicator to help take an investment call
Traders should make use of other indicators such as Relative Strength Index (RSI), Bollinger Bands, Fibonacci Series, candlestick patterns
and Stochastic to confirm an emerging trend
Retail investors should consult financial experts before buying or selling a stock based on such technical indicators.
