The Indian Equity Index closed on a weak note on June 12 with the Nifty being below 24,900. Upon closing, the Sensex was 823.16 points or 1.00 percent to 81,691.98, and the Nifty was 253.20 points or 1.01 percent to 24,888.20. Nearly 1249 shares rose, 2606 shares declined and 134 shares did not change. Tata Motors, Shriram Finance, Trent, Titan Company, Coal India suffered the most loss in Nifty, while Apollo Hospitals, Dr. Reddy’s Labs, Bajaj Finserv, Asian Paints, Tech Mahindra were in profit. All regional index closed at red mark, which recorded a decline of 1-2 percent in auto, consumer durables, FMCG, metal, IT, power, oil and gas, realty. The BSE midcap index recorded a decline of 1.5 percent and the smallcap index by 1.3 percent.
Nifty outlook
Ajit Mishra, Senior Vice President (Research), Railways Broking, said that the Nifty decisively requires a new trigger to overcome a barrier of 25,200. Otherwise the consolidation may continue. Investors are now keeping a close watch on updates on the upcoming macroeconomic data, especially CPI inflation and business deals for further signals.
He said that we recommend to maintain stock specific approaches and focus on prudent business management. Especially in view of overbott conditions in several midcap and smallcap stocks.
What are the signs of global markets?
Mixed business was seen in Asian markets on Thursday. Investors have considered US President Donald Trump’s announcement that the trade deal with China is “completed.” Trump has said that a total of 55 percent tariffs will be imposed on imports from China. Later, US Commerce Secretary Howard Lutnik also confirmed this.
Japan’s Nikkei index fell 0.75 percent. Whereas broader subjects declined by 0.43 percent. The ASX200 was doing a flat business with a negative trend. At the same time, Kospi broke this trend and gained 0.4 percent.
Meanwhile, the US stock futures declined. The market reacted to temporary trade deal and fresh inflation figures. The futures associated with S&P 500 and Nasdaq 100 declined by 0.2 percent. While Dow Jones futures fell by 0.2 percent.
The major index on Wall Street closed slightly less than overnight. After the recent boom, it stopped for some time. Dow Jones closed flat with a negative attitude. Meanwhile, S&P-500 … 0.27 percent slipped and Nasdaq closed down 0.5 percent.
