Bengaluru: Indian stocks were little changed on Wednesday as gains in auto and consumer stocks balanced losses in higher-weighted financials.
smelly The index closed 0.05% higher at 19,398.50, while the S&P BSE Sensex fell 0.05% to 65,446.04.
Both the indices had hit all-time highs in each of the previous four sessions.
Financials declined 0.82% after the National Stock Exchange (NSE) announced the exit of HDFC, HDFC and HDFC Bank declined over 3% each. nifty 50 Starting on 13th July.
The Fast Moving Consumer Goods index rose to a record high, led by a report by ITC that it was in the process of demerging its hotel business.
between individual stocks, Hero MotoCorp Gains on the launch of bikes developed with Harley Davidson rose to a two-year high, while rival Bajaj Auto gained 5.72% after launching two 400cc bikes in partnership with UK’s Triumph Motorcycles.
Broader indices outperformed their larger peers, with Smallcap and Midcap rising over 0.7% each and registering new 52-week and record highs, respectively.
“While the medium-term and long-term outlook for domestic equities remains promising, it would be prudent for investors to exercise caution after hitting all-time highs recently,” said G Chokkalingam, director of research at Equinomics Research.
Three analysts said weakness in other Asian indices, selective selling at record highs and uncertainty over monsoon could add to the caution.
Asian markets declined on concerns of a faltering economic recovery in China and a trade conflict between Washington and Beijing.
Investors are now looking forward to the details of the US Federal Reserve’s June policy meeting scheduled for Wednesday at 11:30 pm IST.
smelly The index closed 0.05% higher at 19,398.50, while the S&P BSE Sensex fell 0.05% to 65,446.04.
Both the indices had hit all-time highs in each of the previous four sessions.
Financials declined 0.82% after the National Stock Exchange (NSE) announced the exit of HDFC, HDFC and HDFC Bank declined over 3% each. nifty 50 Starting on 13th July.
The Fast Moving Consumer Goods index rose to a record high, led by a report by ITC that it was in the process of demerging its hotel business.
between individual stocks, Hero MotoCorp Gains on the launch of bikes developed with Harley Davidson rose to a two-year high, while rival Bajaj Auto gained 5.72% after launching two 400cc bikes in partnership with UK’s Triumph Motorcycles.
Broader indices outperformed their larger peers, with Smallcap and Midcap rising over 0.7% each and registering new 52-week and record highs, respectively.
“While the medium-term and long-term outlook for domestic equities remains promising, it would be prudent for investors to exercise caution after hitting all-time highs recently,” said G Chokkalingam, director of research at Equinomics Research.
Three analysts said weakness in other Asian indices, selective selling at record highs and uncertainty over monsoon could add to the caution.
Asian markets declined on concerns of a faltering economic recovery in China and a trade conflict between Washington and Beijing.
Investors are now looking forward to the details of the US Federal Reserve’s June policy meeting scheduled for Wednesday at 11:30 pm IST.