Sensex, Nifty turn red after good start; midcap stocks outperform benchmarks

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Indian Indices:                              
                                     Equity benchmarks took a negative turn on Tuesday morning, with the Nifty index trading below 11,450, while the Sensex fell over one-fifth of a percent.

The Nifty FMCG index has extended its fall, down over 2 percent. Banks have continued to trade in the green, with PSU banks gaining big. Midcaps, too, are higher by around 0.10 percent.

Among shares, M&M, Axis Bank, and Bajaj Finserv were the top gainers, while ITC, HUL, and Titan have lost the most.  

At 10:36 hrs IST, the Sensex is down 79.90 points or 0.21% at 37842.27, and the Nifty down 17.00 points or 0.15% at 11421.10. The market breadth is narrow as 1,137 shares advanced, against a decline of 947 shares, while 123 shares are unchanged.

Global Market:

•    Asian markets: Asian shares were struggling to snap an eight-session losing streak on Tuesday as investors decided no news was good news on tariffs, while the pound touched a five-week top on hints a Brexit deal might be nearer.

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

•    European markets: European shares were slightly higher in early trading on Friday as uncertainty over global trade rippled through markets and investors sought refuge in defensive sectors.

Major Headlines of the day:

•    A stronger rupee pushed benchmark stock indices higher on tuesday .
•    Rupee Jan Dhan overdraft option likely to give Rs 32,000 crore boost to economy.

Trend in FII flows:-  The FIIs were Net Value of Rs -841.68 cr. cash segment while the DIIs were Net Value of  -289.68 cr. per the provisional figures.

Securities in Ban For Trade Date 07-SEPTEMBER-2018

NIL

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