Equity indices close in red after choppy session, Asian Paints top loser
News | June 04, 2020 20:32 ISTEquity benchmark indices swung between gains and losses on June 04 but ended lower with private banks suffering the most on profit booking.
Equity benchmark indices swung between gains and losses on June 04 but ended lower with private banks suffering the most on profit booking.
According to traders, market mood turned bearish after government data on Monday showed that retail inflation rose to about five-and-half year high of 7.35 per cent in December 2019, surpassing the RBI's comfort level, mainly due to spiralling prices of vegetables as onions were selling costlier.
Till September, a total of 71 ETFs were benchmarked to various equity and debt indices, while the number stood at 66 by March this year. "Increasing awareness about ETFs, large cap active funds struggling to outperform large cap indices based ETFs and low fund management fees of ETFs are few other key factors which have helped the growth of ETF in India," NSE said in a statement on Friday
In the previous session, the 30-share Sensex settled 35.98 points or 0.09 per cent, higher at 40,165.03. The Nifty advanced 13.15 points, or 0.11 per cent, to close at 11,890.60.
While search for CCD founder VG Siddhartha is underway, the company in a letter has informed the National Stock Exchange (NSE) that the business is running as usual.
The scrip tanked 18.17 per cent to close at Rs 33.10 on the BSE. During the day, it dropped 28.18 per cent to hit an all-time low of Rs 29.05.
The Reserve Bank of India's Monetary Policy Committee (MPC) is slated to announce its bi-monthly policy Thursday. The central bank had cut the short-term lending rate (repo rate) by 25 basis points each in its last two policy reviews.
Elsewhere in Asia, bourses in China, Japan and Korea were trading on a negative note in their respective early sessions.
FII sold equity worth Rs 501.11 crore on Tuesday, while domestic institutional investors (DIIs) purchased shares to the tune of Rs 269.22 crore, provisional data available with stock exchanges showed.
Market mood has been euphoric since the BJP-led National Democratic Alliance (NDA) won the general elections.
The market is witnessing a board-based rally expecting better outlook for the economy in the next one-two quarter, experts said.
In the previous session, the BSE Sensex surged over 1,000 points to touch the 40,000-mark for the first time ever following the BJP's stellar electoral show, but could not sustain the momentum as investors chose to cash in on the gains.
Meanwhile, market regulator Sebi and stock exchanges have beefed up their surveillance mechanism to check any manipulative activities in the market this week in view of the high-octane election-related events lined up.
Meanwhile, market regulator Sebi and stock exchanges have beefed up their surveillance mechanism to check any manipulative activities in the market this week in view of the high-octane election-related events lined up.
In the previous session on Thursday, the BSE bourse closed 278.60 points, or 0.75 per cent, higher at 37,393.48.
Elsewhere in Asia, bourses were trading significantly lower after the near collapse of trade talks with China last week.
RIL, Tata Motors, HDFC twins, Axis Bank, Bharti Airtel, ICICI Bank and TCS were the top gainers, rising up to 1.04 per cent.
The Sensitive Index (Sensex) of the BSE, which had closed at 37,789.13 points on Wednesday, opened lower at 37,747.91 points.
In the previous session on Monday, the BSE bourse settled at 38,600.34, down 362.92 points or 0.93 per cent. The broader NSE Nifty ended the day at 11,598.25, losing 114 points or 0.97 per cent.
In the previous session, the BSE bourse settled 50.12 points, or 0.13 per cent, lower at 38,981.43; and the broader Nifty slipped 23.40 points, or 0.20 per cent, to close at 11,724.75.
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