Published: Sun, June 18, 2017
Money | By Oscar Reynolds

Sensex slips 22 points in early trade on global cues

Sensex slips 22 points in early trade on global cues

The BSE Midcap and Smallcap indices was up 0.2-0.3 percent, while the BSE Sensex Next index closed 0.07 percent, well above its traditional benchmark. Some level of circumspection ahead of Wednesday's RBI policy review outcome resulted in profit-booking.

A total of 59 stocks registered a fresh 52-week high in early trade on Thursday, while 23 stocks touched a new 52-week low on the NSE.

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

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,316.91 points, closed at 31,213.36 points - down 57.92 points or 0.19 per cent from its previous close at 31,271.28 points. While UK election and European Central Bank meet added to the restraint, pharma space saw buying after the recent falls attracted bargain buyers. 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.

Globally, Asian stocks ended mixed as investors awaited directional cues from the three big upcoming events today and next week's Federal Reserve meeting. "Investors can continue to accumulate good stocks on every dip, as the underlying sentiments remain positive", Manglik added. Taiwan market dropped by 0.20%.

The IT sub index of NSE-Nifty IT-fell 1.4 per cent.

Major losers were Tata Motors 3.58%, NTPC 2.65%, ONGC 2.28%, ITC 2.05%, L&T 1.60%, Sun Pharma 1.53%, Reliance 1.17%, Bharti Airtel 1.07%, Power Grid 0.93%, Bajaj Auto 0.88%, M&M 0.83% and Hero Motoco 0.70%. Infosys too shed 0.54 percent to Rs 956.30, while Wipro lost 0.06 percent to Rs 548.50.

Sector-wise, the S&P BSE banking index rose by 193.07 points, the automobile index by 167.90 points, and the healthcare index by 148.51 points. The market breadth turned negative as 1,774 stocks ended lower, 924 closed higher while 160 ruled steady.

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