BusinessShare Market

Sensex Snaps 9 Day Winning Streak, Banking Stocks Drag

Among the financial stocks, HDFC and ICICI Bank and SBI were among the top losers.

Sensex and Nifty erased early gains to end lower today, snapping a nine-session winning streak. The Sensex ended 63 points lower at 34,331 while the Nifty settled at 10,526, down 22 points.

Selling pressure in banking and auto stocks weighed on the markets. On the other hand, gains by FMCG and metal stocks helped to cap the losses.

The markets had earlier rallied for nine consecutive sessions, buoyed by hopes of strong quarterly results, with consumer staples stocks among top gainers as forecasts of normal monsoon brightened their outlook.

The recent rally suggests that investors are expecting better quarterly results with positive monsoon forecast also boosting the sentiment, said Siddharth Sedani, vice president head equity advisory at brokerage Anand Rathi.

He expects the markets to remain range-bound with stock specific moves taking place based on earnings.

Among the financial stocks, HDFC and ICICI Bank and SBI fell around 0.6 per cent. Axis Bank declined around 3 per cent.

Information technology stocks continued to be under selling pressure following Infosys March quarter results on Friday. Volatility of rupee and a tepid outlook forecast from Infosys Ltd is weighing on IT stocks, Mr Sedani added.

The BSE IT index fell for the third day today. Tech Mahindra, HCL Tech and TCS were among the top losers in the IT pack today.

India’s biggest cigarette maker which also sells biscuits under the Sunfeast brand, rose nearly 3 per cent today. Consumer staples stocks such as Dabur India also rose over 3 per cent while Hindustan Unilever gained 0.3 per cent.

Global stocks climbed to their highest in nearly four weeks today as strong US first-quarter earnings helped revive risk appetite, driving up equities and hauling the dollar out of its slump.

European stocks rose in early trading, pushing MSCI’s index of world stocks up 0.2 per cent to its highest since March 22.

Summary
Review Date
Reviewed Item
Sensex Snaps 9 Day Winning Streak, Banking Stocks Drag
Author Rating
51star1star1star1star1star
Opinion Poll
With assembly election ahead With assembly election ahead, well known Digital Media platform clipper28.com has decided to gauge the mood of Chhattisgarh through its own opinion poll. As an aware voter and stakeholder of the democratic process, kindly do answer the following questions so that prevailing mood of state can be ascertained.
Name
Age
Assembly Segment
Phone Number
Which party will emerge as the single largest party?
Which party will win how many seats?
Whom would you like to see as next Chhattisgarh Chief Minister?
Have you witnessed development work in your area?
Do you think that farmers of Chhattisgarh are satisfied with BJP government?
Do you think youngsters are happy with employment scenario created by Chhattisgarh/state government?
Do you think state government has done enough on issue of women empowerment?
Are you satisfied with work done by your legislator? Have electoral promises been fulfilled or not?
Are you satisfied with the amenities provided by the government in your area?
Do you think the state government has successfully tackled naxal menace?
Are you satisfied with work done by different state Ministers?

Please do vote...

ओपिनियन पोल
छत्तीसगढ़ की आगामी विधानसभा चुनाव के लिए डिजिटल मीडिया ‘clipper28.com’ नेसटीक ओपिनियन पोल करनेका निश्चय किया है. अतः आप नीचे दिए सवालों के निष्पक्ष जवाब देंताकि राज्य की आने वाले दिनों की सही सियासी तस्वीर सामनेआ सके. कृपया अपना मत जरूर दें- With assembly election ahead
नाम
विधानसभा क्षेत्र
आयु
फ़ोन नं
विधानसभा चुनाव में सबसे बड़ी पार्टी कौन सी होगी ?
किस पार्टी को कितनी सीटें मिलेगी?
अगले मुख्यमंत्री के रूप में किसे देखना चाहेंगे?
क्या आपके क्षेत्र में विकास दिखाई पड़ रहा है?
क्या छत्तीसगढ़ का किसान भाजपा शासन से संतुष्ट है?
जो रोजगार छत्तीसगढ़ सरकार ने दिया, क्या उससे युवा वर्ग संतुष्ट है?
राज्य सरकार ने महिलाओं के सशक्तिकरण के लिए जो किया, उससे महिलाएं संतुष्ट हैं?
क्या आप अपने विधायक से संतुष्ट हैं? उन्होंने अपने वादे पूरे किए या अधूरे हैं उनके काम?
क्या आप अपने क्षेत्र की सरकारी सुविधाओं सेसंतुष्ट हैं?
क्या नक्सली समस्या पर नियंत्रण हुआ है?
क्या प्रदेश के मंत्रियों के कामकाज से संतुष्ट हैं?
-देश हित के लिए मतदान अवश्य करें-
Tags

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.