Sensex down 25 points; Coal India, M&M stocks skid

Investors remain wary ahead of GDP data, August F&O expiry

Chennai, Aug 31:  

The Sensex and Nifty were trading marginally lower as investors adopted a cautious approach in view of August derivatives expiry and release of key macroeconomic data later in the day.

Squaring-up of positions by participants — today being the last trading session of August series contracts in the derivatives segment — and caution ahead of the GDP data for the June quarter, to be released later in the day, influenced the trading sentiment. Besides, mixed Asian cues also weighed on the domestic sentiment.

At 1.35 pm, the 30-share BSE index Sensex was down 25.55 points or 0.08 per cent at 31,620.91 and the 50-share NSE index Nifty was down 7.3 points or 0.07 per cent at 9,877.10.

Among BSE sectoral indices, healthcare index fell 0.43 per cent, followed by TECk 0.43 per cent, realty 0.4 per cent and IT 0.38 per cent. On the other hand, consumer durables index was up 0.44 per cent, power 0.37 per cent, capital goods 0.11 per cent and oil & gas 0.07 per cent.

Top five Sensex gainers were Wipro (+1.49%), Bajaj Auto 9+1.39%), Reliance (+1.32%), Maruti (+1.09%) and Power Grid (+1.00%), while the major losers were Coal India (-1.41%), M&M (-1.15%), Infosys (-1.13%), ONGC (-0.95%) and Sun Pharma (-0.86%).

Asian shares

Investors rediscovered a taste for the dollar and Asian shares on Thursday as upbeat Chinese and US economic news whetted appetite for riskier assets globally, even as tensions over North Korea simmered in the background.

MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.2 per cent, leaving it a modest 0.7 per cent firmer for the month so far.

US stocks rose on Wednesday after stronger-than-expected US economic growth outweighed concerns about escalating tensions between the United States and North Korea and uncertainty in the aftermath of Hurricane Harvey.

The Dow Jones Industrial Average rose 27.06 points, or 0.12 per cent, to end at 21,892.43, the S&P 500 gained 11.29 points, or 0.46 per cent, to 2,457.59 and the Nasdaq Composite added 66.42 points, or 1.05 per cent, to 6,368.31. The Nasdaq closed within 1 per cent of its record closing high set in late July.

(This article was published on August 31, 2017)

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