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HDFC twins, TCS, Kotak Mahindra Bank top drags on Sensex
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Nestle, ONGC, HDFC, Power Grid top laggards; Bajaj Auto, Reliance Industries up 1%
Only 11 Sensex components traded in the positive territory in early trade.
OPENING BELL | Sensex sheds 190 points, Nifty slips below 15,300
- Nestle drops 3%
- IOB surges 6%
Pre-open session: Sensex drops 100 pts, Nifty below 15,300
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SGX Nifty signals gap down start
Nifty futures on the Singapore Exchange traded 106 points, or 0.69 per cent, lower at 15,222 in signs that Dalal Street was headed for a gap-down start on Wednesday.
Tech view: Nifty support seen at 15,240
Nifty50 could not capitalise on a strong start on Tuesday, as it witnessed selling pressure above 15,400 level. The index ended up forming an indecisive ‘Spinning Top’ candle on the daily chart, but continued to form higher highs and lows as it was making in the past few sessions.
Asian markets off to negative start
Asian markets open on a negative note Wednesday, as investors juggle the prospects for an economic comeback and additional stimulus with continued pandemic concerns. Australia’s benchmark S&P/ASX 200 index shed 0.61 per cent in early trading, while Japan’s Nikkei 225 fell 0.78 per cent to 30,228.72. Hong Kong’s Hang Seng index declined 0.52 per cent to 30,587.29.
US markets ended mixed
The Dow Jones Industrial Average notched a record closing high on the prospect of more fiscal aid while concerns over rising interest rates kept the benchmark S&P 500 little changed. The Dow Jones Industrial Average rose 63.82 points, or 0.2 per cent, to 31,522.22, the S&P 500 lost 2.25 points, or 0.06 per cent, to 3,932.58 and the Nasdaq Composite dropped 47.98 points, or 0.34 per cent, to 14,047.50.
RailTel IPO subscribed 2.64 times on Day 1
The initial public offer of telecom infrastructure provider RailTel Corporation of India was subscribed 2.64 times on the first day of subscription on Tuesday. The Rs 819.24-crore offer received bids for 16,13,74,220 shares as against 6,11,95,923 shares on offer, as per an update on the NSE.
Nureca IPO subscribed 14.77 x on Day 2
The initial public offer of Nureca Limited, which is into the business of home healthcare and wellness products, was subscribed 14.77 times on the second day of subscription on Tuesday. The Rs 100 crore-public issue received bids for 2,07,03,200 shares against 14,01,595 shares on offer, as per data available with the NSE.
FPIs buy Rs 1,144 crore worth stocks
Net-net, foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 1,144.09 crore, data available with NSE suggested. DIIs were net sellers to the tune of Rs 1,559.53 crore, data suggests.
Rupee settles flat at 72.69 against dollar
The Indian rupee settled just 1 paisa lower at 72.69 against the US dollar on Tuesday as importers’ greenback purchases offset the impact of a weak…
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