A close below 8,420 may mean a short decline for Nifty
We had mentioned in Monday’s closing report that NSE’s CNX Nifty has to say above 8,450 for the momentum to be strong. The 50-stock benchmark closed Tuesday just four points above it. It was a listless day with a flat close after lower-than-expected retail inflation data dampened hopes of an interest rate cut by Reserve Bank of India (RBI) next month.
The 30-share S&P BSE Sensex, which opened at 27,986.92 points, closed at 27,932.90 points, down 28.29 points, or 0.10%, over the previous day's close. The benchmark had touched a high of 28,018.59 points and a low of 27,853.96 points in intra-day trade.
The wider Nifty of the National Stock Exchange also closed flat -- down 5.55 points or 0.07%.
Rise in food and fuel prices propelled India's retail inflation to 5.40% in June from 5.01% in May, official data showed on Monday.
Foreign funds remained net sellers to the tune of $87 million on Tuesday. Good buying was observed in IT and healthcare sectors, while selling pressure was seen in auto and banking sectors during to today’s trading.
Among the 12 sector-specific indices of the Mumbai bourse, IT index rose 0.89% and healthcare index gained by 0.64%. However, auto index was down 0.93% and bankex by 0.55%.
The 100-scrip and 200-scrip indices were 0.08% and 0.05% down, respectively, while mid-cap index gained by 0.14% and small-cap stocks went up by 0.36%.
The major Sensex gainers on Tuesday were: Coal India, up 3.33% at Rs434.05; Infosys, up 2.11% at Rs970.10; Hindustan Unilever, up 1.91% at Rs927.45; and Hero MotoCorp, up 1.52% at Rs2640.20.
The losers were: Tata Motors, down 4.10% at Rs385.75; Hindalco, down 1.83% at Rs104.60; State Bank of India (SBI), down 1.81% at Rs268.60; and Vedanta, down 1.63% at Rs145.10.
The shares, which were top gainers and top losers among the major indices are given in the table below:
The closing values of world indices are given in the table below:
Among European indices, the DAX was at 11,449.35, down 0.31% and FTSE 100 was at 6,722.69, down 0.23%.