etvfutures.com
etvfutures.com June 23, 2017


Indian equities slip as global cues spook investors

18 June 2017, 12:52 | Cesar Cruz

Brokers said investors were seen holding their bets awaiting the outcome of the RBI's bi-monthly Monetary Policy Committee meet

Brokers said investors were seen holding their bets awaiting the outcome of the RBI's bi-monthly Monetary Policy Committee meet

The Sensex is trading at 31,256.94 points up by 66.38 points or 0.21 per cent.

Indian equity benchmarks gained on demand for metal stocks after broking firm CLSA upgraded its outlook on the sector; declining technology, energy shares helped arrest early volatility. BSE Mid-cap Index closed up 33.75 points or 0.23% at 14834.42 points while, BSE Small-cap Index closed up 46.69 points 0.30% at 15472.55 points.

The RBI kept the repo rate unchanged at 6.25 percent and cut SLR by 50 basis points to 20 percent.

The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a higher note during the morning session of the trade. Later on profit booking, it slipped to touch a low 31,172.98 before ending 80.72 points, or 0.26 %, higher at 31,271.28. However, these were offset by losses in technology, energy and selecting banking shares. "Investors can continue to accumulate good stocks on every dip, as the underlying sentiments remain positive", Manglik added.

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Indian shares may open a tad lower on Thursday as investors await the United Kingdom election, the European Central Bank policy meeting and former FBI Director James Comey's congressional testimony - all scheduled for today. Bharat Forge was the biggest gainer, the stock rose by 3.78 per cent and ended the session at Rs 1,210.30.

Pharma stocks rallied, with Aurobindo Pharma, Cipla, Sun Pharma and Dr Reddy's Laboratories climbing 2-4 percent.

The Dow and the S&P 500 rose about 0.2 percent while the tech-heavy Nasdaq Composite gained 0.4 percent. Gas utility GAIL fell as much as 4.3 percent, oil refiner International Olympic Committee dropped 2.1 percent and automaker Hero MotoCorp declined 1.5 percent.

Indian benchmark indices closed in the red after digesting RBI's policy rate action and growth outlook cut yesterday and ahead of the United Kingdom elections, the European Central Bank's policy meeting and ex-FBI Director James Comey's congressional testimony.



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