BSE

Markets gained on two of the five trading sessions, lost on two and remained flat on the fifth, showing how even-stevens things were. BSESENSEX lost 62.15 points or 0.10 per cent to close at 64,886.51 points while NIFTY lost 44.35 points or 0.23 per cent to close at 19,265.80 points.

Shoppers Stop was trading at Rs 727.50, down 10.35 per cent on BSE.

Brightcom Group shares were trading at Rs 24.14, down 5 per cent on the BSE.

Nifty is down 3 per cent from the July peak of 19979, moving in sympathy with the global cues, says  V.K. Vijayakumar, the Chief Investment Strategist at Geojit Financial Services.

The company in its reply to BSE said: “We would like to submit that the Company is regularly intimating all the events, information etc. that have a bearing on the operation/performance of the company which include all price sensitive information, etc. to the Stock Exchanges, as per Regulation 30 of the SEBI (LODR) Regulations, 2015.

Global headwinds are from the rising dollar index at 103.23 and spiking U.S. bond yields, he said. Consequently, FIIs are selling, taking their cash market sell figure in August, till 15th, to Rs 9,867 crore. Domestically, the major headwind is the rising inflation, V.K. Vijayakumar said.

Cues from the US market are favourable; particularly the sharp 14bp dip in the US 10-year bond yield last Friday can once again favour renewed FPI buying, he added. Latest data from the US indicate a slight cooling of the economy but the labour market continues to be strong. Markets will be keenly watching the July CPI print for clues on the Fed decision in August.

Titan led the Sensex losses down more than 2 per cent. Morgan Stanley has upgraded India to overweight. India rises from number 6 to number 1 in our process, with relative valuations less extreme than in October, while MS macro, strategist and bottom-up analyst scores reflect MS' Blue Paper thesis on India's Decade.

Sensex was trading down 628 points at 65,830 points. Twenty-seven stocks out of Sensex 30 were in the red, with NTPC and Tata Steel down more than 2 per cent. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. said the major news after market close yesterday is the rating agency Fitch’s downgrade of US sovereign rating from AAA to AA+.

At the end of the week, BSESENSEX lost 524.06 points or 0.79 per cent to close at 66,160.20 points while NIFTY lost 98.95 points or 0.50 per cent to close at 19,646.05 points. The broader markets saw BSE100, BSE200 and BSE500 lose 0.15 per cent, gain 0.14 per cent and 0.29 per cent respectively. BSEMIDCAP was up 2.07 per cent while BSESMALLCAP was up 1.18 per cent.