Nifty, Sensex May Rally a Bit if Today’s Low Holds – Wednesday closing report
We had mentioned in Tuesday’s closing report that Nifty, Sensex continued to be under pressure. The major indices of the Indian stock markets rallied on Wednesday and closed with gains over Tuesday’s close. On the NSE, there were 688 advances, 1,048 declines and 330 unchanged. The trends of the major indices in the course of Wednesday’s trading are given in the table below:
 
 
A recovery in the rupee value along with value buying buoyed the key Indian equity indices on Wednesday. The key equity indices -- S&P BSE Sensex and NSE Nifty50 -- which had a gap-up opening, traded in a flat-to-negative range, as investors were cautious over the upcoming macro-economic inflationary data point.
 
However, the key indices reversed the bearish trend after the mid-afternoon session as buying was witnessed in FMCG (fast moving consumer goods), metal and capital goods counters. In the past two trade sessions the Sensex had shed nearly 1,000 points and gave investors an opportunity to pick up stocks on an attractive valuation. On the currency front, the Indian rupee registered a recovery at 72.11 at 4.00 p.m. after it touched a new low of 72.91 earlier in...

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With a market-capitalisation of about Rs820 crore, Kerala Solvent Extractions Ltd (KSE) is the largest manufacturer of compound cattle-feed in the private sector in India. The stock has had a great run from January 2017 till end-May 2018, when it went up by six times. But from June 1st after it had reached an all-time high of over Rs3700, the stock started falling. Due to the recent floods...

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Nifty, Sensex continue to be under pressure – Tuesday closing report

We had mentioned in Monday’s closing report that Nifty, Sensex were under pressure. The major indices of the Indian stock markets suffered a correction on Tuesday and closed with losses over Monday’s close. On the NSE, there were 468 advances, 1,282 declines and 315 unchanged. The trends of the major indices in the course of Tuesday’s trading are given in the table below:

 

 
Broadly negative global cues subdued the key Indian equity indices during the pre-noon trade session on Tuesday. According to analysts, investors feared that high petrol and diesel prices and a weak rupee would pump up the retail and wholesale inflation rates, thereby mitigating chances of a rate cut by the Reserve Bank of India in the near term. Selling pressure was witnessed in the consumer durable, FMCG (fast moving consumer goods), telecom and capital goods stocks. On the currency front, the rupee traded over 72.30 against the US dollar around 11.35 a.m. at the Inter-Bank Foreign Exchange Market.
 
Inflationary risks along with broadly negative global cues depressed the Indian rupee to a new low of 72.74 to the US dollar during late afternoon session on Tuesday. At 3.35 p.m....

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