Published: Wed, June 14, 2017
Business | By Max Garcia

Key Indian equity indices trade lower during morning session

Key Indian equity indices trade lower during morning session

Rupee has witnessed a high of 64.34 and a low of 64.49.

The Sensex of the BSE, which opened at 31,225.43 points, was trading at 31,148 points (at 9.25 a.m.), lower by 114.06 points or 0.36 per cent from the previous day's close at 31,262.06 points.

Banks paced the decliners, with SBI, PNB and Bank of Baroda losing 1-3 percent after Finance Minister Arun Jaitley said the Reserve Bank of India (RBI) is at an advanced stage of preparing a list of bad loans where resolution is required under the country's insolvency and bankruptcy rules. "Among mid and small caps, too, one has to be cautious", Harsha Upadhyaya, CIO-Equity at Kotak Mutual Fund said, after the market rallied 17 percent in current calendar year.

Elsewhere in Asia, China's blue-chip CSI300 index rose 0.2 per cent, to 3,579, while the Shanghai Composite Index gained 0.4 per cent to 3,151.

However most of the gain was negated in the closing trade resulting in a flat day for the stock market.

According to the data released by the Central Statistics Office (CSO) after market hours on Monday, India's annual retail inflation (CPI) eased to a record low of 2.18 per cent in May, and the factory output growth (IIP) marginally slowed to 3.1 per cent in April.

European stocks also edged higher as tech shares rebounded from recent heavy losses and a rise in oil prices helped underpin gains in the energy sector. The S&P 500 dipped 2 points to close at 2,429. On the other hand, realty index was up 1.07 per cent, metal 0.42 per cent, healthcare 0.33 per cent and consumer durables 0.24 per cent.

Major Sensex gainers on Tuesday were: Power Grid, up 1.94 per cent at Rs 210; Lupin, up 1.73 per cent at Rs 1,177.40; HDFC, up 1.52 per cent at Rs 1,668.45; NTPC, up 1.27 per cent at Rs 160; and Adani Ports, up 0.67 per cent at Rs 359.50.

Wipro dropped 1.44 percent after the stock adjusted for bonus issue in the proportion of 1:1.

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