Indian stock markets extended losses where both Nifty and Sensex tumbled as much as 1%. Nifty hit below 8350 mark and closed at 8346 while Sensex shed 274 points and closed just above 27000 mark at 27034.
Nifty closed below 8350 for the first time in 8 sessions. The whole pessimism was driven ahead of Trump’s inauguration later in the day and after Janet Yellen's cues on a steady outlook on rate hikes.
Broader markets slightly underperformed by losing 1.5% and 1.3% in Midcap and Smallcap index.
Market breadth remained highly negative with 847 advances and 1856 declines.
The PSU Banking sector fell 3% on the back of free fall in Canara and Allahabad Bank.
Metal, Media and Realty sectors tumbled more than 2%.
FMCG closed flat where the fall was followed by Mcdowell-N and ITC gaining 1.7% and 0.5% respectively.
Telecom sector stocks continued to rally where IDEA and Bharti Airtel remained top gainers while Axis Bank extended losses and remained among the top losers.
Movers & Shakers in today’s trade:
AXIS BANK :- The bank dragged the index the most by losing more than 7% of its price on Friday.
HAVELLS :- The mid cap stock closed up by more than 3% on a down day.
M& M FINANCE :- The stock closed down by more than 6% in line with the mood of the market.
Stock view:-
Axis Bank Ltd is currently trading at Rs 450.5, down by Rs 33.2 or 6.86% from its previous closing of Rs 483.7 on the BSE.
The scrip opened at Rs 460 and has touched a high and low of Rs 461 and Rs 448.1 respectively. So far 32112432(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 115679 crore.
The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 638 on 07-Sep-2016 and a 52 week low of Rs 373.3 on 11-Feb-2016. Last one week high and low of the scrip stood at Rs 491.65 and Rs 455.2 respectively.
The promoters holding in the company stood at 28.91 % while Institutions and Non-Institutions held 57.8 % and 8.93 % respectively.
The stock is currently trading below its 200 DMA.
Nifty closed below 8350 for the first time in 8 sessions. The whole pessimism was driven ahead of Trump’s inauguration later in the day and after Janet Yellen's cues on a steady outlook on rate hikes.
Broader markets slightly underperformed by losing 1.5% and 1.3% in Midcap and Smallcap index.
Market breadth remained highly negative with 847 advances and 1856 declines.
The PSU Banking sector fell 3% on the back of free fall in Canara and Allahabad Bank.
Metal, Media and Realty sectors tumbled more than 2%.
FMCG closed flat where the fall was followed by Mcdowell-N and ITC gaining 1.7% and 0.5% respectively.
Telecom sector stocks continued to rally where IDEA and Bharti Airtel remained top gainers while Axis Bank extended losses and remained among the top losers.
Movers & Shakers in today’s trade:
AXIS BANK :- The bank dragged the index the most by losing more than 7% of its price on Friday.
HAVELLS :- The mid cap stock closed up by more than 3% on a down day.
M& M FINANCE :- The stock closed down by more than 6% in line with the mood of the market.
Stock view:-
Axis Bank Ltd is currently trading at Rs 450.5, down by Rs 33.2 or 6.86% from its previous closing of Rs 483.7 on the BSE.
The scrip opened at Rs 460 and has touched a high and low of Rs 461 and Rs 448.1 respectively. So far 32112432(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 115679 crore.
The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 638 on 07-Sep-2016 and a 52 week low of Rs 373.3 on 11-Feb-2016. Last one week high and low of the scrip stood at Rs 491.65 and Rs 455.2 respectively.
The promoters holding in the company stood at 28.91 % while Institutions and Non-Institutions held 57.8 % and 8.93 % respectively.
The stock is currently trading below its 200 DMA.
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