D-Street extends losses on weak rupee, Sensex down over 200 points; Nifty breaks 11,500

Capitalstars financial Research 

Indian Indices:   
                                        It’s a red start to the truncated week, with the Sensex shedding over 100 points, while the Nifty fell below 11,600.Tepid global market movements along with a weakness in the Indian currency are likely to have weighted on the market. The Indian currency opened at another record low of 72.18 per US dollar, continuing its bearish move in the past few sessions. 

The Sensex is down 116.02 points or 0.30% at 38273.80, while the Nifty is lower by 25.90 points or 0.22% at 11563.20. The market breadth is narrow as 460 shares advanced, against a decline of 440 shares, while 65 shares were unchanged.

Shares of Axis Bank and Infosys are the top gainers, while Sun Pharma, Kotak Mahindra Bank, and Indiabulls Housing have lost the most. Axis Bank’s shares are higher after it announced a successor to Shikha Sharma. Sun Pharma, meanwhile, is down on reports of fresh inspection by US FDA at its Mohali unit. 

Global Market:

•    Asian markets: Asian shares started the week in the red on Monday, faltering for the eighth straight day while the dollar held on to recent gains as US President Donald Trump raised the stakes in the heated trade dispute with China.

•    US Markets: The Nasdaq fell more than 1 percent on Wednesday, dented by technology stocks after Facebook Inc and Twitter Inc executives defended their companies before skeptical U.S. lawmakers.

•    European markets: Europe markets mixed amid earnings; Randstad shares up 2.5%.

Major Headlines of the day:

•     Nifty to consolidate amid IIP, WPI data; top 3 stocks to bet on.
•    The Rupee Is Falling and India Should Let It.

Trend in FII flows:-  The FIIs were Net Value of Rs 37.56 cr. cash segment while the DIIs were Net Value of  942.45 cr. per the provisional figures.

Securities in Ban For Trade Date 07-SEPTEMBER-2018
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