Tuesday, March 27, 2018
INDIAN EQUITY MARKET OUTLOOK - 28 Mar 2018
Sensex falls 150 pts, Nifty below 10,150 on expiry day; Hindustan Aeronautics dips 5%
Benchmark indices opened lower on the day of expiry of March derivative contracts, tracking negative lead from global stocks.
The 30-share BSE Sensex was down 124.15 points at 33,050.24 and the 50-share NSE Nifty fell 56.10 points to 10,128.10.
Tata Steel, Vedanta, SBI and Yes Bank were lowers in early trade.
Nifty Midcap was down 146 points.Tejas Networks, Bodal Chemicals and Biocon gained.
Kwality plunged 20 percent, hitting fresh 52-week low. Fortis Healthcare, Persistent Systems, Edelweiss Financial, Delta Corp, Balrampur Chini, Indoco Remedies, Bandhan Bank, Cummins and IDBI Bank fell up to 9 percent.
The Indian rupee opened higher at Rs 64.88 per dollar on Wednesday versus 64.98 yesterday.
"The rupee is expected to remain in the range of 64.50-65 with a positive bias. Support from the domestic equity market and pressure on US dollar globally may push the USD-INR towards 64.50."
Asian stocks posted declines after US stocks fell sharply on the back of declines in technology names. That cut short a rally seen in Europe and Asia's Tuesday session linked to an apparent easing in trade-related tensions,
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