Sensex, Nifty close slightly lower as healthcare, FMCG stocks fall

BSE Sensex rose for a second consecutive day on Friday and was on track to gain a small weekly gain as investors hunted for bargains after recent falls, with Reliance Industries leading gainers after the company commissioned a key hydrocarbon unit.

The barometer index, the BSE Sensex, fell 57 points or 0.19% at 29,365.30, while the Nifty50 index fell 17 points or 0.19% at 9,119. Slackness in European stocks dampened sentiment. BSE Small-cap and BSE mid-cap hit record highs, with the Nifty Smallcap-100 index rising 1.1%, while the Nifty Midcap-100 index up 0.6%.

Reliance, HDFC Bank and NTPC gained the most on BSE Sensex while ITC, Sun Pharma, Adani Ports and Cipla were the biggest losers on the index.

HDFC Bank’s shares hit record high of Rs 1,500, up 2.6% on BSE after the bank reported a better growth of 18% in standalone net profit at Rs 3,990 crore for the quarter ended March 2017.

Asian stocks finished mixed from the most recent closing prices. European markets are lower. The rupee was trading at Rs 64.57 against the US Dollar in the afternoon session, while Oil prices were trading at USD 50.67.

Sensex Nifty Strong Opening, Silver Hiked Up 1800 Points

In the morning session of Monday Trading Session, Indian Stock Market gave a strong positive opening. Till now, Indian Stock Market has been hiked up by 0.70% and there are more to come today. Currently, Sensex is trading at 27352.71 with the hike of 207.8 points and Nifty is trading at 8389.9 with the hike of 61.55 points. All Bse sectors are trading in positive zone with appreciative hikes except the FMCG. With the current market status it seems like the whole Global Market is moving upwards. In Commodity Market, Silver has boosted up the Mcx market and most of the Mcx commodities are trading positively, while the Ncdex Commodities are trading low today. In Mcx Commodity Market, Gold is trading at 31729 with the hike of 266 points, Silver is trading at 47365 with the hike of 1806 point and Crude oil is at 3300 with the gain of 29 points. The only mcx commodity which is trading in negative zone is Natural Gas, it has lost 2.06% and currently trading at 195.10. In Base Metals, Aluminium is at 111.90 hike 0.15, Nickel is at 674 hike 2.90, Lead is at 125.25 hike 0.25, Zinc is at 144.80 hike 0.45, Mentha oil at 840 hike 4.40 and Cotton is at 20590 with the hike of 280 points.

Indian Stock Market moving Sluggish

On the first trading session of this week, the Indian Rupee opened at 66.50 with the loss of 3 paise against the Dollar. Although, the Indian Stock Market haven't received any much changes till now but the market is moving in negative zone with minor loss. Currently, Sensex live at 24655.34 with the loss of 18.50 points and Nifty live at 7551.05 with the loss of 4.15 points. In Asian Market, Japan and Singapore Indexes are trading low, whether Korea, Hong Kong and Taiwan Indexes are up today. In S&P Bse Sectors, Consumer & Durables sector is on the top with the hike of 252.48 points and 2.24%. BSE Bankex, Bank Nifty, FMCG, IT and Healthcare sectors are trading in negative zone with the loss of 42.22, 52.30, 67.41, 38.09 and 44.87 respectively. In the list of top gainers, Bharti Airtel is at the top with the hike of 3.74% followed by Idea Cellular up 2.52%  and Hindalco up 2.17%. In the list of top losers, Lupin is at the top with the loss of 1.91% followed by Dr. Reddy's Lab down 1.28% and Grasim down 1.20%.

Is Budget A Bad Omen For Indian Market?

The Indian Market is moving quite sluggish on the last day of the month and it is definitely caused by the upcoming Budget today. Many people are not trading today due to a common conception that, on the budget day market gives negative returns. Although, this Bad Omen had already started with morning trading session, where the Sensex and Nifty was trading with the respective loss of 112.93 and 48.10 points. Currently, Sensex is trading with the loss of 359.90 points and 117.55 points. With the excitement of having the Budget in their favor, Banking sector is showing high movements. Along with the Small Cap and Mid Cap Indexes, FMCG, IT and Metal Sector have also got affected by the upcoming budget and currently moving under the negative zone. In MCX Commodity Market, Silver and Crude oil are trading with the loss of 0.52% and 2.43% whether Gold has hiked up by 237 points and moving in positive zone. In Base Metals, except Aluminium all other commodities are trading with minor losses. Until now the NCDEX Commodity Market has received mixed trading and performing average with minor highs and lows.