Sensex, Nifty Turn Choppy Amid Cautious Trade: 10 Things To Know

Anshul

23 Jan 2019, 12:28 PM IST

Sector wise, the NSErealty, auto and PSU banking indices fell up to 0.29 per cent.

At 12:30 pm, the 30-share benchmark index traded 44.00 points or 0.12 per cent higher at 36,488.64, and the Nifty was at 10,943.05, up 20.30 points or 0.19 per cent from the previous close.
Top gainers on the 50-scrip index were ZEEL, Sun Pharma, Yes Bank, Wipro and Hindustan Unilever, trading between 1.59 and 2.89 per cent higher.
Adani Ports, Power Grid, Infosys, Tata Consultancy Services (TCS) and Tata Motors, trading between 0.75 and 0.87 per cent lower, were among the main laggards on the index.
Sector wise, the NSE realty, auto and PSU banking indices fell up to 0.29 per cent while media, FMCG, metal and pharma stocks surged by up to 2.11 per cent.
Ahead of their quarterly results, ITC Ltd and telecom tower company Bharti Infratel Ltd edged up, while Interglobe Aviation Ltd, which operates budget airline IndiGo, fell up to 2.2 per cent.
According to Hemang Jani, Head - Advisory, Sharekhan by BNP Paribas, one can expect the volatility in the stock market to increase as we inch closer to the interim budget. The interim Budget 2019 is scheduled to be presented by the government on February 1, 2019.
According to AK Prabhakar, head of research at IDBI Capital in Mumbai, people are buying quality stocks in a staggered manner instead of pumping in money, as the cards are now open for the upcoming elections. "Investors are wary of a mixed government, as reforms would be tougher to go through, and it could also lead to a loosening of monetary policy," he said.
Asian stocks took a breather on Wednesday, with mounting signs of slowing global growth and concerns over a yet-unresolved China-US trade dispute putting the brakes on investor appetite for risk assets. MSCI's broadest index of Asia-Pacific shares outside Japan was mostly unchanged, stalling after climbing to a seven-week high on Monday.
The rupee, meanwhile, rose by 29 paise to 71.15 against the dollar in early session on Wednesday on increased selling of the American currency by exporters and banks.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 78.53 crore, while domestic institutional investors (DIIs) sold shares worth Rs 84.15 crore on Tuesday, provisional data showed.

(With inputs from agencies)