The midcap and small cap indices cracked up to 1.5% on Wednesday, while frontline indices ended marginally lower as investors turned cautious ahead of the F&O expiry of May series due tomorrow. Investors also awaited the minutes of US Federal Reserve’s May policy meeting due later in the day. The S&P BSE Sensex ended at 30,301, down 63 points, while the broader Nifty50 settled at 9,360, down 26 points. The market breadth, indicating the overall health of the market, remained negative. On BSE, 2,019 shares fell and 700 shares rose. A total of 150 shares were unchanged.
The BSE Sensex is trading at 30450 up 85 points, while NSE Nifty is trading at 9395 up 9 points. A total of 6 stocks registered a fresh 52-week high in trade today, while 51 stocks touched a new 52-week low on the NSE. There are 607 advances, 885 declines and 454 unchanged stocks on NSE reflecting a negative bias floating in the market. The BSE Mid cap Index is trading down 0.5% at 14169, while BSE Small cap Index is trading down 0.2% at 14735. Some buying activity is seen in Realty, Metal, Auto and Bankex while Consumer Durables, Metal and Oil & Gas is showing weakness on BSE. Tata Motors DVR, Tata Motors, Yes Bank, Adani Ports and TCS are among the gainers, whereas Bank of Baroda, Asian Paints, HCL Tech, Indiabulls Housing Finance and Dr Reddy’s on the NSE.
The Benchmark indices settled lower with the S&P BSE Sensex shedding 200 points and Nifty 50 ending below 9,400-level as investors booked profit in recent outperformers. The sentiment was also dragged by geopolitical tensions as Indian army strikes Pakistan military posts. The S&P BSE Sensex ended at 30,365, down 205 points, while the broader Nifty50 settled at 9,386.15, down 52.10 points. The broader market underperformed the benchmark indices with S&P BSE Midcap and the S&P BSE Smallcap indices dipped over 1% each. Nifty May 2017 futures closed at 9390.45 on Tuesday at a premium of 4.30 points over spot closing of 9386.15, while Nifty June 2017 futures ended at 9395.15, at a premium of 9 points over spot closing. Nifty May futures saw a contraction of 2.50 million (mn) units, taking the total outstanding open interest (OI) to 15.30 million (mn) units. Highest open interest has been seen in 9500 and 9300 strike price for call option and in 9400 and 9300 strike price for put option.
Benchmark indices saw a sharp fall from the opening tick, with the Nifty snapping 9400-mark during the first hour of trade. The Sensex was down 157.72 points at 30413.25, while the Nifty was down 56.80 points at 9381.45. The market breadth was absolutely negative as 244 shares advanced against a decline of 1,847 shares, while 57 shares were unchanged. GAIL and Sun Pharma lost the most, while Maruti Suzuki and Hindustan Unilever have led the list of top gainers. Midcaps continued their corrective phase as the index fell 2.5 percent, while pharma index cracked over 3.5 percent, coupled with PSU banks and energy stocks fall.
Snapping two-session long losing spree, the benchmark indices ended higher on Monday as investor sentiment got a boost after the government last week finalized rates for the upcoming goods and services tax (GST). The government on Friday unveiled four bands of rates under the GST for services in line with those applying to goods, a big departure from the current single rate of 15% applied on most services. The S&P BSE Sensex ended at 30,570, up 106 points, while the broader Nifty50 settled at 9,438, up 10 points. In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices slipped in red to shed over 1% each.