Winning streak ends as consumer, auto stocks drag indices down
时间:2024-09-29 02:32:51 阅读(143)
By Siddhant Mishra
The Indian benchmarks ended their winning run on Friday, dragged down by auto stocks and weak global cues. The Sensex tanked 415.69 points or 0.66% to 62,868.50, while the Nifty slid 116.40 points or 0.62% to close at 18,696.10.
However, momentum indicators suggested a strong possibility of profit-booking at higher levels,” said Amol Athawale, deputy vice-president (technical research), Kotak Securities.
M&M was the biggest loser among Sensex stocks, down 2.24%, with Maruti losing 1.58%. Consumer stocks also had a rough ride, with HUL falling 1.78%, and Nestle and ITC also closing the session in the red. Eicher was the biggest laggard in the Nifty pack, sliding 3.10%, while M&M lost 2.05%, and Hero, Maruti, Bajaj, and Tata Motors all closed in the red. Among consumer stocks, Tata Consumer was the biggest loser, down 2.23%, with HUL falling 1.61% and Nestle losing 1.47%.
“Domestic equities witnessed some pressure amid weak global cues, mixed November auto sales numbers, and investors’ cautious approach ahead of the release of US monthly jobs data. After rallying 4%, the market seems to have taken a pause and is likely to consolidate over the next few days. Next week, the markets will take cues from the RBI’s policy meeting will keenly watch the outcome of the Gujarat elections,” said Siddhartha Khemka, head – retail research, Motilal Oswal Financial Services.
ALSO READ Britannia, Raymond among 141 BSE stocks to hit 52-week highs, 20 fall to 52-week lows
Global markets also felt the heat, ahead of the US jobs data, though reports of China scaling back on Covid measures lent a breather. Among Asian markets, the Hang Seng was down 0.33%, with the Nikkei falling 1.59%. The Shanghai Composite was 0.29%, while KOSPI fell 0.84%.
Also Read: Zerodha’s Nikhil Kamath tells when to buy stocks, shares Buffett formula to find the right time
FII and DII trades: Foreign Institutional Investors (FII) have been net buyers of domestic stocks for successive days now. On Wednesday, FIIs pumped in Rs 2,347 crore. Domestic Institutional Investors (DII) have been net sellers, pulling out Rs 510 crore yesterday.
IPO watch: Syrma SGS Technology enters the final day of bidding today. So far the issue, that opened last week, has been subscribed 2.27 times. Retail investors have subscribed their portion 2.66 times while NIIs have bid for their quota 3.58 times and QIB portion has been bid for 0.71 times.
猜你喜欢
- Buy these two stocks for gains; 17200 to act as support for Nifty, Bank Nifty upside capped at 40000
- Tread the green path- The need to decarbonize the logistics industry
- Year-ahead in space expedition- Pivotal space missions set stage for cosmos exploration in 2024
- Xiaomi 12 Pro first look at design, specs, top features and more - In Photos
- YearEnder2023- From Barbie to Koffee with Karan, a sneak peek into CGI ads rolled out this year
- Titan share price falls 2% today as weak margins offset topline growth in Q1; should you buy, sell or hold-
- California wildfire- Highway Fire burns 25 acres of land, evacuation ordered – Photos
- CCEA gives nod to distribute chana from Nafed stock
- To detect security lapses- Sebi wants cyber audit by bourses to be twice a year