Mid-Session: Indices pare some losses, realty lead 11/08/2017

Mid-Session: Indices pare some losses, realty lead
11/08/2017
NIFTY FUT  TREND             : BUY ZONE
BANKNIFTY FUT  TREND  : BUY ZONE
                                        
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The Indian benchmark indices regained some early losses, led by realty and pharma stocks. Earlier in the day, markets extended its fall following a crack in US stocks in overnight trade on escalating geopolitical tensions over North Korea.

In the Asian markets, the Shanghai Composite is off 1.50 per cent while the Hang Seng is down 1.72 per cent.

Moving ahead, over 400 companies will report their corporate earnings today, which could lead to specific stock reactions. Investor's will eye the Q1 results of country's biggest lender State Bank of India due later in the day. Apart from SBI, Bank of Baroda, BPCL, Cipla, and Hindalco will also report their June quarter results.

At 12:11 PM BSE SENSEX was at 31352.15 down by -179.18 points or by -0.57 per cent and then NSE Nifty was at 9764.6 down by -55.65 points or by -0.57 per cent.

The BSE Sensex touched intraday high of 31379.2 and intraday low of 31194.87 The NSE Nifty touched intraday high of 9767.9 and intraday low of 9704.35.

The top losers of the BSE Sensex pack were Larsen & Toubro Ltd. (Rs. 1137.00,-1.94%), Asian Paints Ltd. (Rs. 1129.95,-1.94%), Hero MotoCorp Ltd. (Rs. 3823.45,-1.63%), Oil And Natural Gas Corporation Ltd. (Rs. 161.60,-1.28%), NTPC Ltd. (Rs. 170.65,-1.27%), among others.

The top gainers of the BSE Sensex pack were Dr. Reddy's Laboratories Ltd. (Rs. 2000.00,+2.62%), State Bank of India (Rs. 302.40,+1.97%), Lupin Ltd. (Rs. 945.45,+1.05%), Tata Motors Ltd. (Rs. 222.10,+1.00%), Axis Bank Ltd. (Rs. 491.35,+0.91%), among others.

Among the sectors, BSE Metal index was at 12486.97 down by -255.48 points or by -2%. Vedanta Ltd. (Rs. 286.00,-4.30%), Hindalco Industries Ltd. (Rs. 228.25,-4.02%), Steel Authority of India (SAIL) Ltd. (Rs. 57.75,-1.95%), NMDC Ltd. (Rs. 119.65,-1.60%), Tata Steel Ltd. (Rs. 598.35,-1.03%).

On the other hand, BSE Realty index was at 2003.45 up by 16.46 points or by 0.83%. Housing Development & Infrastructure Ltd. (Rs. 59.70,+6.42%), Unitech Ltd. (Rs. 7.64,+3.66%), Prestige Estates Projects Ltd. (Rs. 257.20,+2.76%), Oberoi Realty Ltd. (Rs. 373.25,+1.84%), Sobha Ltd. (Rs. 366.50,+1.52%).

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2534, shares advanced were 1102 while 1303 shares declined and 129 were unchanged.

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