Monday 4 June 2018

Nifty Slips Below 10,700 Mark; HDFC Bank, HUL Stocks Drag

Posted by suhani varma on Monday, June 04, 2018 with No comments


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Equity benchmark indices erased early gains and were dragged lower, led by HDFC Bank. Indices erased all the gains despite strong global cues.

All sectoral sub-indices were in the red with bank and financial services stocks bleeding the most.

The Reserve Bank of India will commence its 3-day Monetary Policy Committee today to decide the key policy rate.

BSE Sensex at 35,235 was up by only eight points, while NSE Nifty at 10,690 was lower by six points.

BSE Midcap is trading higher by 0.03% and BSE Smallcap slipped by 0.81%, respectively.

Dr. Reddy's stock gained 3% after Srikakulam plant was cleared by the U.S. health regulator.

Dr. Reddy’s (+3%), Yes Bank (+2.6%), M&M (+1.4%), Infosys (+1.1%) and Hindalco (+1.1%) were the top gainers.

Indiabulls HF (-2%), HDFC Bank (-1.4%), Adani Ports (-1.1%), Asian Paints (-1.1%) and GAIL (-0.97%) were the top losers.

Out of 2,057 stocks traded on the NSE, 429 advanced, 1,195 declined and 433 remained unchanged today.

Shares of Cadila Healthcare added 1% after it received final USFDA approval to market Doxycycline Hyclate Capsules, 50/100 mg.

The Indian rupee opened higher by 10 paise at 66.96 per dollar versus 67.06 Friday.

Asian indices opened in the green lead by the Japanese Nikkei, which was trading up over 275 points in early trade.

US indices rallied strongly on Friday as jobs growth beats estimates and optimism on higher growth returns. Oil price fall adds to bullish sentiment with bond yields steady at 2.9% even as US Dollar held ground

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