After losing steam in the previous trading session, the Indian equity yet again ended with marginal losses on Wednesday(22nd June). Market participants remained cautious ahead of the Britain’s referendum outcome on Thursday(23rd June). Although, indices just lost few points today, internally selling pressure was callous. Barring the realty and health care stocks all the other sectoral indices on the BSE ended with losses. Auto, telecom, industrial, capital goods and power index were top losers. Even the mid cap and small cap index edged lower. Nifty closed with a loss of 16 points at 8,204, while BSE Sensex ended with a loss of 47 points at 26,766.
Major Asian stock markets have opened the day on a mixed note with stock markets in China are trading lower by 0.9%. However, stock markets in Singapore and Japan are trading higher by 0.8% and 0.6% respectively. Benchmark indices in Europe ended their previous session in green with stock markets in Germany ending the day higher by 0.6%.
Meanwhile, Federal Reserve Chair Janet Yellen was optimistic about the economy and played down the risk of a recession. She also added that the UK’s vote on EU membership and a potential economic slowdown in China had raised concerns about the strength of the global economy. Meanwhile, ECB President Mario Draghi said ECB was ready for all contingencies in case of Brexit.
Tata Motors dropped 3% to Rs.472 on BSE. Jaguar Land Rover, Britain’s biggest car maker, estimates its annual profit could be cut by $1.47bn by the end of the decade if Britain leaves the European Union, as per media reports.
Escorts shares soared as much as 14% to Rs.207 and hit their highest level in nearly six years since July2010.
Sharon Bio-Medicine hit 20% upper circuit to Rs.11.62 on BSE. The company informed the exchange that the Board of Directors discussed the current financial position of the company and decided to introduce more profitable products, to increase capacity utilization and get the business to move in the regulated markets, specifically in the United States of America.
Mandhana Industries was locked at 10% lower circuit at Rs.160.The company reportedly said it is in the process of demerging its current retail business.
USDINR trade today trading down 9 paise at 67.59 per US dollar.
Out of 1,815 stocks traded on the NSE, 1062 declined, 507 advanced and 247 remained unchanged today.
Top 5 Nifty Gainers: Sun Pharma (1.91%), Tata Motors (1.28%), Dr. Reddys Lab (1.26%), Lupin Ltd (0.80%) and M&M (0.74%).
Top 5 Nifty Losers: NTPC (-3.15%), BHEL Axis Bank (-1.55%), CIPLA (-1.33%), Tata Steel. (-1.08%) and ONGC (-1.01%)
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