Sensex falls 104 pts on F&O expiry, Asian cues

by Ben Pena October 27, 2016, 15:21
Sensex falls 104 pts on F&O expiry, Asian cues

Investors remained cautious as October month series in the derivatives segment is set to expire tomorrow. The Sensex was down 23 points at 28,156 and the Nifty traded 7 points lower at 8,702.

"Short covering on the expiry day and some green shoots today in earnings lifted the market from the day's low".

"Positive global indices, value buying and recovery in crude oil prices have led to the upswing in the equity markets", Anand James, Chief Market Strategist, Geojit BNP Paribas Financial Services, told IANS.

At 10:22 IST, the barometer index, the S&P BSE Sensex was down 102.47 points or 0.35% at 27,738.09.

Indian bourses continued their trade in negative terrain in the noon session with frontline gauges trading below their crucial 27,750 (Sensex) and 8,600 (Nifty) levels.

On the volumes front, 26.99 lakh shares of the company were traded on BSE and over 3 crore shares changed hands at NSE during the day.

Sensex falls 104 pts on F&O expiry, Asian cues
Sensex falls 104 pts on F&O expiry, Asian cues

Automobile, IT, consumer durables, oil and metal stocks closed weak.

Broader markets, however, stayed in the negative terrain, with the mid-cap index and small-cap falling 1.04 and 0.77 per cent, respectively.

Back home, foreign institutional investors sold shares worth Rs 606 crore while domestic institutional investors bought shares worth Rs 389 crore on Tuesday. The company has posted a net profit of Rs 4,975 crore for the quarter ended September 30, 2016 as compared to Rs 4681.4 crore for the quarter ended September 30, 2015.

Hero MotoCorp fell 3.12 per cent even as the company yesterday reported a 27.74 per cent increase in net profit for the second quarter.

Tata Chemicals was down 2.44%, Tata Motors 1.44%, Tata Power 1.80%, Tata Steel 1.04%. The Dow Jones industrial average rose 0.2% higher to 18,199.33, while the Standard & Poor's 500 index sank 0.2% to 2,139.43. Mahindra & Mahindra (M&M) (down 0.35%), Ashok Leyland (down 0.46%), Eicher Motors (down 0.08%), and Bajaj Auto (down 0.16%) declined. China's Shanghai Composite and Hong Kong's Hang Seng closed lower. The FTSE 100 and CAC 40 were marginally down 0.3% each, while the CAC 40 slipped 0.65%. 1604 stocks declined and 261 stocks ended flat.

U.S. stocks finished lower yesterday, giving up some of the previous day's advance, as worries about a slip in consumer confidence reading weighed on market sentiment.

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