Monday, 27 November 2017

Sensex, Nifty trade in a negative zone ; HPCL, GAIL stock down

Indian stock market snapped seven-day winning streak and continued to trade mildly lower dragged by FMCG, oil marketing companies, technology and select banking and financial stocks.

On the economy front, S&P Global Ratings retained India's sovereign rating at BBB-, with a stable outlook, a week after Moody's Investors Service upgraded India's rating. Jul-Sep GDP data  will be released in this week.

 BSE Sensex down 76 points to 33,604 and the NSE Nifty50 Index slipped 31 points to 10,359.

The broader markets outperformed benchmarks, with the BSE Midcap Index rising 2.21% and Smallcap up 0.49% on positive breadth.

Among Nifty50 index, HPCL was the top loser, down 1.7% followed by GAIL, Adani Ports, which fell over 1.5% each. Index heavy-weights like Infosys, SBI and Reliance Industries fell between 0.50-1%.

Some buying was seen in media, pharma and realty sectors, while PSU bank, FMCG, IT, auto and metal sectors showed weakness on the NSE.

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