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Indian markets dip further
Tue, 16 Jun 01:30 pm

After opening the day in red, the Indian share markets extended their losses in the post-noon trading session. Sectoral indices are trading on a mixed note with mining and financial institution sectors bearing the maximum burnt.

BSE-Sensex is down 154 points (0.6%) and NSE-Nifty is trading 49 points down (0.6%). BSE Mid Cap and BSE Small Cap index are both trading on a negative note, both down by 0.4% and 0.5% respectively. Gold, per 10 grams, is trading at Rs 27,013 levels. Silver price, per kilogram, is trading at Rs 36,994 levels. Crude oil is trading at Rs 3,860 per barrel. The rupee is trading at 64.25 to the US dollar.

Media sector stocks are trading on a mixed note with Broadcast Initiatives and Deccan Chronicle witnessing maximum buying interest. Shares of Zee Entertainment were witnessing selling pressure on the back of concerns on initial losses for new Hindi general entertainment channel '& TV'. The stock has plunged down 13% from its highs in January, when the new channel was launched. Also, the subscription growth prospects have been pushed back as there is a delay in Phase III DAS (digital addressable system) rollout to December 2015. This means that the monetization is unlikely to happen in FY17. Currently the stock of Zee Entertainment is trading marginally up.

Stocks in the banking sector are also trading mixed with Kotak Mahindra Bank and Karur Vysya Bank leading the losses. As per a leading financial daily, Indian financial services major HDFC has reported 12% increase in its advance tax outgo for the first quarter of the current fiscal. This stood at Rs 4.6 bn as against 4 bn for the corresponding quarter of last fiscal. Also for private sector lender Yes Bank the same stood at Rs 1.7 bn, up by 36% as compared to last year. Currently stock of HDFC is trading lower by 0.4% while the stock of Yes Bank is trading down by 0.9%.

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Jan 16, 2018 (Close)