Sensex Begins F&O New Series on Muted Note 

Mumbai: BSE Sensex and NSE Nifty eased in the first session of the new F&O series on Friday. Sensex down 54 points to 27,782.25 as investors chose to stay on the sidelines ahead of a speech by the US Federal Reserve Chair Janet Yellen. Nifty ended 19.65 points or 0.23 per cent down at 8,572.55, after trading between 8,622.95 and 8,547.55.
On a weekly basis, the Sensex fell 294.75 points or 1.04 per cent and the NSE Nifty slipped 94.35 points or 1.08 per cent.

On a weekly basis, the Sensex fell 294.75 points or 1.04 per cent and the NSE Nifty slipped 94.35 points or 1.08 per cent.

Both the indexes posted second straight weekly losses. Shares of Welspun India despite rising 7 per cent during the day, pared all of its initial gains to end lower by 8.64 per cent at Rs 49.70.
The scrip had plunged by 47 per cent in the past four sessions.

Tata Motors rose 2.01 per cent to Rs 503.65 inspite of posting 57 per cent decline in net profit to Rs 2,260.40 crore for the first quarter ended June 30, due to post Brexit adverse foreign exchange impacting its British arm JLR.

Vinod Nair, Head of Research, Geojit BNP Paribas Financial Services, said: “The market was a bit cautious and traded on a wait and watch mode as the investors are not ready to take risk ahead of the Fed chair’s speech. Any hawkish view might result in outflow of foreign funds from the emerging markets like India in the near term.”

Vinod Nair, Head of Research, Geojit BNP Paribas Financial

The market was a bit cautious and traded on a wait and watch mode as the investors are not ready to take risk ahead of the Fed chair’s speech. Any hawkish view might result in outflow of foreign funds from the emerging markets like India in the near term.

The 30-share Sensex after opening higher, stayed in the negative zone for the most part of the session and touched a low of 27,696.99.
The gauge finally settled 53.66 points or 0.19 per cent down at 27,782.25.Broader markets showed mixed trend as mid-cap rose 0.17 per cent, while small-cap indices was down 0.12 per cent.

Elsewhere, Asian stocks ended mixed while European stocks opened lower, with investors focusing on a speech by Federal Reserve Chair Janet Yellen later in the session for hints about the timing of a US interest rate hike.
European markets were also lower as key indices in France, Germany and the UK fell up to 0.31 per cent. Asian indices, like in Japan and Singapore, fell by up to 1.18 per cent, while Hong Kong’s Hang Seng moved up by 0.41 per cent.

Source: PTI