Sensex above 32000 on funds inflows, earnings hopes

Barsaba Taglieri
Luglio 20, 2017

The BSE 30-share barometer after dipping to a low of 31,626.44 points at the outset, recovered partially to quote 202.61 points, or 0.63 percent down at 31,872.17. The Sensex closed 244.36 points higher at 31,955.35 level, recouping some losses it suffered from a 363 points or 1.13 percent fall in Tuesday's trade. It had closed at a record high of 9,915.95 points in yesterday's session. The FMCG index came under severe selling pressure, losing over 6% in the intra-day trade as investors relentlessly sold certain FMCG stocks. Sify Editors @ 11:50 AM: Zee Entertainment hits over 2-month high; chart signals further upsideShares of Zee Entertainment Ltd rises 2.73 pct to 545 rupees, its highest since May 11. In another sign of bullishness, stock's 20-day exponential moving average (EMA) crosses above its 50-day EMA.

"All major indices, namely BSE IT, consumer durables, Teck, healthcare, metals, oil and gas ended in green".

Meanwhile, shares of ONGC were trading 1.59 per cent higher at Rs 165.65 on getting HPCL merger approval. Reliance Industries, SBI, Power Grid, HDFC, NTPC, ICICI Bank, Airtel, Kotak Bank and M&M declined up to 2.03%.

Shares of other cigarette makers like Godfrey Phillips India and VST Industries also fell as much as 10.35 per cent and 8.3 per cent respectively. In the past four days, the index has gained 676.75 points.

Global concerns about supply overhang in the metals sector continue to linger, as Chinese steel output in June rose 5.7 per cent (y-o-y) to a record 73.23 million tonnes, surpassing an all-time high of 72.78 million tonnes in April, data from the National Statistics Bureau showed. The sale of the 51.1% stake in state-run refining and marketing company HPCL, held by the government, to oil exploration and production firm ONGC could fetch the government about Rs 29,000 crore at current market prices. NSE Nifty was down 88.80 points at 9,827.15 after hitting intraday low of 9,792.05.

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