Stock Market News 27.07.2019
FIIs press ‘sell’ button; Nearly 30 stocks in BSE500 fall 10-20% in five sessions
In the smallcap space, 63 stocks fell 10-30 percent, which include names like Future Consumer, Ballarpur Industries and Kellton Tech Solutions.
Persistent selling by foreign institutional investors on D-Street pulled the benchmark indices below their respective support levels in the week gone by. The S&P BSE Sensex failed to hold on to 38,000 while the Nifty50 closed below 11,300 levels.
Foreign institutional investors (FIIs) pulled out more than Rs 7,000 crore from the cash segment of Indian equity markets while, for the month, they have pulled out more than Rs 14,000 crore
Apart from persistent selling by FIIs, muted corporate earnings growth from India Inc., concerns over a slowdown in the Indian economy, below-normal monsoon, trade talks as well as geopolitical concerns weighed on sentiment.
“We believe factors like economic slowdown, liquidity concerns, lack of any big bang announcements in budget and surcharge on super-rich including the FPIs, etc. led to muted investors sentiment, which has dragged the markets down in the last week,” Ajit Mishra, Vice President - Religare Broking, told Moneycontrol.
Source- Moneycontrol.
In the smallcap space, 63 stocks fell 10-30 percent, which include names like Future Consumer, Ballarpur Industries and Kellton Tech Solutions.
Persistent selling by foreign institutional investors on D-Street pulled the benchmark indices below their respective support levels in the week gone by. The S&P BSE Sensex failed to hold on to 38,000 while the Nifty50 closed below 11,300 levels.
Foreign institutional investors (FIIs) pulled out more than Rs 7,000 crore from the cash segment of Indian equity markets while, for the month, they have pulled out more than Rs 14,000 crore
Apart from persistent selling by FIIs, muted corporate earnings growth from India Inc., concerns over a slowdown in the Indian economy, below-normal monsoon, trade talks as well as geopolitical concerns weighed on sentiment.
“We believe factors like economic slowdown, liquidity concerns, lack of any big bang announcements in budget and surcharge on super-rich including the FPIs, etc. led to muted investors sentiment, which has dragged the markets down in the last week,” Ajit Mishra, Vice President - Religare Broking, told Moneycontrol.
Source- Moneycontrol.
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