INSUBCONTINENT EXCLUSIVE:
Main losers on Sensex pack were Induslnd Bank, Hero Moto Corp and Tata Motors.Benchmark equity indices opened mildly positive on Wednesday
Stock markets in Asia tracked their global peers lower while the safe-haven dollar hovered near a two-week high on Wednesday as heightened
worries over international trade conflicts curbed investor appetite for riskier assets.Main losers on Sensex pack in the morning session
were Tata Motors (-0.63%), Infosys (-0.69%), HeroMotoCorp (-0.74%), Vedanta (-1.05%), Hindustan Unilever (-1.37%) and Coal India (-1.82%)
(-0.73%).According to analysts, fresh buying by foreign portfolio investors (FPIs) and recovery in the rupee supported the market at the
However, sustained selling by domestic institutional investors (DIIs) and weak Asian cues on rising concerns over the global trade war
weighed on investor sentiment
According to provisional data, FPIs bought shares worth a net of Rs 32.64 crore, while DIIs sold shares worth a net of Rs 21.41 crore on
Tuesday."The combination of rise in crude oil price and weakening of rupee against US dollar are substantiating fatalness for domestic
The current price earning (PE) is coating at 28 which seems to be quite expensive and also the pressure of macroeconomic factors may bring
some correction in the markets
The strengthening of dollar is optimistic for the exporting companies which can increase their profit margin", said Ritesh Ashar, Chief
Strategy Officer, KIFS Trade Capital.In global commodities markets, oil prices partly reversed a strong jump from the previous day, as the
impact of a tropical storm on US Gulf coast production was not as strong as initially expected.On the other hand, major gainers in the
(+0.49%) and Asian Paints (+0.37)
GAIL (+0.72%), Wipro (+0.67%), ITC (+0.39%), Tech Mahindra (+0.37%) and Asian Paints (+0.33%) led the pack of Nifty gainers.Meanwhile, stock
markets settled on a negative note on Tuesday
BSE benchmark index Sensex fell 154 points to close at 38,157 on Tuesday, while the NSE Nifty declined 62 points to end at 11,520
