Sensex slips 60 points ahead of manufacturing PMI

 

 

Mumbai: The 30-share bellwether BSE Sensex on Monday was trading 60 points lower ahead of manufacturing purchasing managers’ index (PMI) data to be released later in the day.

At 9.25am, the Sensex was trading down 0.3%, or 62.32 points, at 21,057.8 points, while the National Stock Exchange’s (NSE’s) broader 50-share Nifty was trading lower 0.4%, or 25.2 points, at 6,251.75 points.

The gainers included Sun Pharmaceuticals Industries Ltd that rose 1.52% to Rs.652.5 and Bharat Heavy Electricals Ltd (Bhel) that jumped 1.08% to Rs.169.

Among the losers, Sesa Sterlite Ltd shares lost 1.46% to Rs.175, while Dr Reddy’s Laboratories Ltd fell 0.97% to Rs.2,873.50.

The BSE healthcare index rose 0.35% to be the biggest gainer, while the realty index fell 0.35%, the most among sectoral indices.

Astrazeneca Pharma India Ltd was trading at Rs.1,110.90 on BSE, up 20% from its previous close after it reported that board will consider delisting proposal on 5 March.

Shares of Jaiprakash Power Ventures Ltd was trading at Rs.15.45 on BSE, down 6.76%, while Jaiprakash Associates rose 3.46% to Rs.41.9 after it reported that a consortium led by Abu Dhabi National Energy Co. PJSC has agreed to buy two operational hydro-power plants from the debt-laden Jaypee Group by investing Rs.10,320 crore.

India’s economy expanded 4.7% in the quarter that ended in December against 4.8% in the September quarter.

The HSBC manufacturing PMI data for India, compiled by Markit, will out at 10.30am for February.

Over the weekend, US markets closed marginally higher on speculation that the Federal Reserve will support the economy to offset concern over the escalating conflict in Ukraine. The S&P 500 gained 0.28% to 1,859.45. The Dow closed up 0.30%, while the Nasdaq down 0.25%.

Increasing political tensions in Ukraine are weighing on Asian stocks. Equities fell in morning trade as anxious investors cut their exposure to riskier assets in favour of safe haven bets such as developed countries’ currencies. Japan’s Nikkei Stock Average down 1.75%, Hong Kong’s Hang Seng was down 0.75%, while China’s Shanghai Composite was up 0.76%

md. aquil alam
pgdm 2nd semester
source.live mint