Stock Open In Red : SENSEX Down 187 Point oil & gas, IT and FMCG Slip

The benchmark BSE Sensex dropped over 267 points in early trade today. At 10.36 a.m.; the BSE benchmark index was quoting at 29,275.23, down 187.04 points or 0.63 per cent. The 30-pack index touched a high of 29,462.09 and a low of 29,178.26 in the early trading session.

The 30-share index, which had gained nearly 1,235 points in previous seven sessions, fell by 267.52 points, or 0.91 per cent, to 29,194.75.Profit-booking in stocks of banking, consumer durables, oil & gas, IT and FMCG sectors negatively impacted trading sentiments.

The Nifty was trading at 8,847.25, down 48.05 points or 0.54 per cent. The 50-pack index touched a high of 8,899.95 and a low of 8,816.30 in early trade.

The S&P BSE Midcap index was up 35.38 per cent and the S&P BSE Smallcap index was 45.65per cent higher.

Among the sectoral indices, the S&P BSE Oil & Gas index was down 0.62 per cent, the S&P BSE Bankex was 0.27 per cent lower and the S&P BSE FMCG index slipped 0.36 per cent.

The S&P BSE Capital goods index was up 0.57 per cent, the S&P BSE Metal index edged up 0.20 per cent and the S&P Auto index was 0.49 per cent higher.

Reliance Industries (1.92 per cent), ICICI Bank (1.45 per cent), Coal India (1.13 per cent), HDFC (0.98 per cent) and Axis Bank (0.46 per cent) were among the index losers.

BHEL (up 1.64 per cent), Hindalco (up 1.28 per cent), Tata Steel (up 1.14 per cent), Tata Motors (up 1.06 per cent) and Cipla (up 0.99 per cent)

Stock future Tips 

 

Markets likely to open flat. Support for nifty is at 8850 and resistance at 8910

Buy Dr.Reddy lab above 3400, target: 3450. Stoploss: 3380