INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Indian equity benchmark Sensex extended its loss to the third consecutive session on Friday, while Nifty50 managed to settle with
Other Asian markets also saw losses as worries of a trade war between the US and China intensified after the President Donald Trump
indicated a new set of tariffs on Chinese goods
World Trade Organisation spooked markets across the globe.
Investors held their moves, awaiting June quarter GDP data and other macro
numbers, including July fiscal deficit and infrastructure output data
At the time of writing of this report, the rupee was trading 21 paise lower at 70.94
The BSE Sensex ended the day at 38,645 with a loss of 45 points, or 0.12 per cent, while the Nifty50 finished at 11,680, up 4 points or
SensexReliance Industries continued to be the top drag on the 30-share index for the third straight day
YES Bank, with a loss of 5.11 per cent, emerged as the top loser in the index
The bank stock plunged on Friday after the Reserve Bank of India (RBI) allowed CEO Rana Kapoor to continue in his present position till
Investors reacted negatively to this uncertainty
Rupee refused to recoverRupee touched the 71-mark for the first time
A widening trade deficit is dragging the rupee down as more imports require India to buy more foreign currencies
IT, pharma capitalise on rupee's fallTwo major export-oriented sectors IT and pharma clocked decent gains on Friday on account of a fresh
Since a major part of their sales revenue comes in the US dollar, a fall in rupee means more rupee for them in simple terms
Mindtree (5.92 per cent), Abbott India (up 4.89 per cent), Tech Mahindra (up 4.80 per cent), Merck (up 4.03 per cent), Sun Pharma (up 1.99
per cent), Infosys (1.59 per cent) and Divi's Laboratories (up 0.54 per cent) hit fresh 52-week highs
Dr Reddy's Laboratories (up 4.67 per cent), Lupin (up 4.35 per cent), Cadila Healthcare (up 3.73 per cent) and HCL Technologies (up 2.93
per cent) clocked decent gains
Spurt in open interest Page Industries witnessed the biggest spike in open interest at 157.86 per cent, followed by YES Bank (66.71 per
cent), Mindtree (37.48 per cent), Adani Enterprises (32.05 per cent) and NIIT Technologies (31.43 per cent)
52-week highs and lowsAs many as
58 stocks, including Vardhman Textiles, TD Power Systems, Simplex Infrastructures and S Chand And Company, hit 52-week lows on Friday
On the other hand, 46 stocks, including Infosys, ITC, Nestle India, Sun Pharma, Tech Mahindra, Divi's Laboratories and Glenmark
Pharmaceuticals, hit 52-week highs on NSE.
MACD bullish on 59 countersMomentum indicator moving average convergence divergence, or MACD, on
Friday, showed bullish crossovers on 59 counters on NSE
Among the stocks that showed bullish crossovers included Infosys, HDFC, Cipla, NIIT Technologies and Can Fin Homes.
However, As many as 32
counters, including Reliance Industries, Coal India, Fortis Healthcare and Escorts showed bearish crossovers on NSE on Friday
