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BCN-19
INDIA-MARKETS-SENSEX
Sensex, Nifty end lower on global cues, macro concerns
Mumbai, June 1, 2019 (BSS/PTI) – Benchmark indices slipped from higher
levels to settle lower on Thursday as investors looked beyond positive
political developments and weighed concerns around global trade war and
macro-economic indicators.
In a highly volatile session, the benchmark BSE Sensex ended 118 points
lower, dragged by losses mainly in auto and financial stocks.
The NSE Nifty too edged 23 points down to settle below the 12,000-mark.
However, on a weekly basis, the Sensex gained 279.4 points and the Nifty
rose 78.70 points.
Post announcement of key portfolios in newly elected government, focus to
shift towards various economic reforms and policies.
After gyrating nearly 750 points, the 30-share index settled 117.77 points,
or 0.30 per cent, lower at 39,714.20. The gauge hit an intra-day low of
39,374.24 and a high of 40,122.34.
The broader NSE Nifty also settled lower by 23.10 points, or 0.19 per cent,
at 11,922.80. During the day, the index hit a low of 11,829.45 and a high of
12,039.25.
Yes Bank was the top loser in the Sensex pack, falling 4.27 per cent. Other
losers include ITC, Vedanta and M&M, shedding up to 3.61 per cent.
Asian Paints, TCS and HCL Tech were among the gainers, rising up to 2.43
per cent.
Sectorally, BSE power, metal, FMCG, utilities, basic materials, auto and
banking indices fell up to 1.30 per cent.
While, BSE teck, oil and gas, telecom and energy indices rose up to 1.07
per cent.
Broader indices ended on a mixed note with, BSE smallcap slipping 0.65 per
cent and BSE midcap rising 0.23 per cent.
Investors also appeared cautious ahead of GDP data, scheduled for release
later in the day, traders said.
BJP President Amit Shah who played a crucial role in the return of his
party’s government at the Centre will be the new Home Minister in Modi 2.0
Cabinet while incumbent Rajnath Singh has moved to Defence, another high
profile ministry.
MORE/HR/1345
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INDIA-MARKETS-SENSEX 2 LAST Mumbai
Outgoing Defence Minister Nirmala Sitharaman will be the new Minister for
Finance and Corporate Affairs while surprise inductee, former foreign
secretary S Jaishankar, has been allocated the critical Ministry of External
Affairs, the Rashtrapati Bhavan announced on Friday.
“Benchmark indices ended this week on a volatile note. After opening
positive, Sensex reversed its trend and closed negative by 117 points. Near-
term events to be closely tracked are India’s Q4FY19 GDP rate, infrastructure
output for April, and foreign exchange reserves data…,” Hemang Jani, Head –
Advisory, Sharekhan by BNP Paribas, said.
“Auto sales data for the month of May to be released on June 1 followed by
the RBI monetary Policy on June 6. On global front, US-China trade wars along
with rise in oil price will determine further trend. We continue to remain
optimistic on equity markets and prefer Private banks,” Jani said.
Meanwhile, foreign institutional investors (FIIs) bought equities worth Rs
1,664.74 crore on Thursday, while domestic institutional investors (DIIs)
sold shares to the tune of Rs 1,122.60 crore, provisional data available with
stock exchanges showed.
Weak trend in global markets too weighed on investor sentiment here,
traders said.
Asian bourses ended on a mixed note, while Europe was trading in the red in
opening deals.
Meanwhile, the Indian rupee appreciated by 17 paise to 69.70 against the US
dollar on Friday.
Brent crude futures, the global benchmark, fell 2.62 per cent to 63.62 per
barrel.
BSS/PTI/HR/1350