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Profit Booking, Rupee Depreciation Subdue Equities

Monday, January 9, 2017
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MUMBAI: Profit booking, coupled with rupee depreciation subdued the Indian equities markets on Monday.
However, recovery in banking, IT and FMCG sectors somewhat arrested the downward spiral. 

The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched down by 7.75 points or 0.09  pct to 8,236.05 points.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 26,860.81 points, provisionally closed at 26,726.55 points (3.30 p.m.), down 32.68 points or 0.12  pct from its previous close at 26,759.23 points.

The Sensex touched a high of 26,860.88 points and a low of 26,701.18 points in the intra-day trade.

In contrast, the BSE market breadth was tilted in favour of the bulls -- with 1,599 advances and 1,215 declines.

"CNX Nifty traded sideways to bearish sentiments due to profit booking at higher levels. The Indian equity markets also faced resistance at higher levels due to firm USD/INR futures prices," Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

"However, banking, IT and FMCG stocks witnessed healthy recovery from lower levels."

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Source: IANS
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