SME Times is powered by   
                          Search News
                          Just in:   • Inflation concerns  • S.Korea's institutional investment in foreign securities hits record high in Q3  • Nissan to invest $17.6 bn in EV development over next 5 years  • Value buying lifts equity indices, IT stocks rise  • No proposal to recognise Bitcoin as currency: FM 
                          Last updated: 23 Oct, 2021  

                          BSE.9.Thmb.jpg Profit booking, mixed results pull equity indices lower, metal stocks down

                             Top Stories
                          » No proposal to recognise Bitcoin as currency: FM
                          » Real estate sector to contribute 13% to India's GDP by 2025
                          » Q2FY22 GDP growth seen between 7-9%
                          » SC allows criminal proceedings against mining firm MD for illegal export
                          » Startups are turning point of growth story: PM
                          SME Times News Bureau | 22 Oct, 2021
                          Relentless profit booking, along with mixed corporate results, subdued India's key equity indices on Friday.

                          Besides, high valuations as well as inflationary concerns and mixed global cues dented investors' sentiments.

                          Initially, the two key indices -- S&P BSE Sensex and NSE Nifty50 -- had a gap-up opening. They fell later only to witness a feeble recovery.

                          Globally, Asian markets rose from the morning levels as beleaguered Chinese property group Evergrande made an overdue bond payment.

                          Similarly, European markets traded higher, helped by an easing of worries surrounding the embattled property group as well as positive corporate earnings.

                          On the domestic front, volumes on the NSE were the lowest in the past five days.

                          Amongst sectors, realty and bankex rose the most, whereas metals, IT, auto, healthcare and FMCG stocks fell.

                          The 30-scrip Sensex closed at 60,821.62 points, down 101.88 points, or 0.17 per cent.

                          It opened at 61,044.54 points from its previous close of 60,923.50 points.

                          Similarly, the NSE Nifty50 ended the day's trade lower, falling to 18,114.90, down 63.20 points, or 0.35 per cent.

                          It opened at 18,230.70 points from its previous close of 18,178.10 points.

                          "Advance decline ratio dipped to sharply negative from sharply positive in t he morning. Nifty ended the week with a loss of 1.22 per cent," HDFC Securities' Head of Retail Research, Deepak Jasani, said.

                          "On weekly charts, Nifty has formed a bearish Dark cloud cover. On falls, 17,948 could be a good support."

                          Motilal Oswal Financial Services' Head, Retail Research Siddhartha Khemka said: "Equity markets opened positive but after initial range bound move, again succumbed to profit booking and ended the session in red for the fourth day in a row."

                          "The market consolidation is likely to continue in near term given weak global cues and mixed earnings so far - affected by cost inflationary pressure and supply side issues on margin. With skyrocketing valuations, many stocks prices have moved beyond comfort zone, thus leaving very little margin of safety. On Monday, investors would react to Reliance and ICICI Bank results, along with global cues."

                          Geojit Financial Services' Head of Research Vinod Nair said: "Despite a strong opening owing to favourable global cues, domestic indices continued a losing streak, succumbing to profit booking and barring banks and realty stocks, all major sectors bled."

                          "The global market traded green as investors welcomed a surprise interest payment by China's debt-ridden major property developer. However, the Indian market is impacted by muted Q2 results, which are weak than forecasted due to high input cost."
                          Print the Page
                          Add to Favorite
                          Share this on :

                          Please comment on this story:
                          Subject :
                          (Maximum 1500 characters)  Characters left 1500
                          Your name:

                            Customs Exchange Rates
                          Currency Import Export
                          US Dollar
                          UK Pound
                          Japanese Yen 58.85 56.85
                          As on 30 Nov, 2021
                            Daily Poll
                          COVID-19 has directly affected your business
                           Can't say
                            Commented Stories
                          » catering to Foreign exchange needs of SMEs(1)
                          » 'Close contact with customers key to good customer services'(1)
                          About Us  |   Advertise with Us  
                            Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
                          Follow Us : Facebook Twitter