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INDIA-STOCKS
Nifty ends below 10,700, down 40 points
Mumbai, June 2, 2018 (BSS/PTI) – The NSE Nifty was down 40 points
yesterday at 10,696.20 due to emergence of selling mainly in realty, banking,
IT and FMCG counters.
In a volatile session, infra, metal and finance service stocks weighed by
data showing manufacturing PMI growth has slowed in May.
Investors after digesting better-than-expected Q4 GDP data shifted focus to
renewed global trade tensions after the US announced tariffs on steel and
aluminium imports. They also closely monitor the movement in crude oil prices
and rupee.
In the overseas markets, European shares were trading higher as Italian
stocks led the pack after a coalition deal appeared to end three months of
political deadlock.
Asian stocks were mixed after Trump administration’s tariffs on imports
from key allies sent US stocks into a tailspin.
Back home, the 50-share NSE Nifty closed at 10,696.20, down 39.95 points or
0.37 per cent. The index hit a high of 10,764.75 and a low of 10,681.50
during the day.
It saw an intra-day movement of about 83.25 points.
On the sectoral front, realty fell by 1.25 per cent followed by PSU Bank
1.03 per cent, bank 0.98 per cent, private bank 0.89 per cent, IT 0.79 per
cent, FMCG 0.70 per cent, metal 0.70 per cent, infra 0.65 per cent, finance
service 0.66 per cent, media 0.45 per cent and energy 0.19 per cent.
On the other hand, auto stocks rose by 0.75 per cent after companies
announced good sales volume data for May 2018.
Major index gainers were BajajAuto, Maruti, Bharti Airtel, HeroMotoCo,
Hindalco, Tata Motors and Sun Pharma.
Losers included, Bajaj Finserv, ONGC, Eicher Motors, Tata Motors, Tata
Steel, GAIL, M&M, NTPC, Power Grid and IndusInd Bank.
The market breadth turned negative. A total of 431 scrips advanced, 1,309
declined and 312 remained unchanged. Total securities that have hit their
price band were two.
Turnover in the cash segment fell to Rs 29,523.14 crore from Rs 59,237.57
crore as on Thursday.
A total of 16,590.79 lakh shares changed hands in 1,07,24,055 trades.
BSS/XINHUA/HR/1210