INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Domestic benchmark indices started off on a cautious note on Friday, looking to extend their losing streak to the seventh
consecutive session.
Global cues traded on a lackluster note with MSCI's broadest index of Asia-Pacific shares outside Japan down 0.15 per
cent and Japan's Nikkei dipped 0.3 per cent
FII selling continued to keep market under pressure
Foreign portfolio investors (FPIs) were net sellers of domestic stocks to the tune of Rs 126.65 crore on Wednesday, data available with NSE
DIIs were net buyers to the tune of Rs 398.53 crore, data suggested
Markets would keep a close watch on stocks such as Maruti Suzuki, Bajaj Auto, Vedanta and JSW Steel which will announce their June quarter
Maruti is seen reporting 32 per cent drop in profit
Vedanta may report a 10 per cent fall while JSW Steel a steep 57 per cent drop in the bottomline
Bajaj Auto may post a single-digit growth in net, consensus estimate suggests
At around 9:30 am, the 30-pack sensex traded on a negative note, down 117 points or 0.31 per cent at 37,714
Nifty lost 2.55 points or 0.023 per cent to trade at 11,250.
In the Nifty pack, 16 stocks gained and 34 stocks declined
Meanwhile, in the 30-pack Sensex, 11 stocks gained while 19 fell
M-M gained 1 per cent and was the top gainer
IndusInd, Axis Bank, SBI and Reliance Industries were other gainers.
Vedanta was the top loser, shedding 2 per cent on the back of of
earnings uncertainty.
Bajaj Auto, Bharti Airtel, ONGC, Maruti and Tata Motors were other losers.
BSE Midcap rose 0.08 per cent and BSE
Smallcap lost 0.21 per cent.
On the sectoral front, barring utilities and bankex all other sectors lost
Oil - gas was the top loser, down 0.98 per cent.
Meanwhile, India Inc's deal activity in the first six months of this year encompassing both
M-A and private equity transactions, stood at USD 32.1 billion, down 57 per cent over last year, a report said
