Market snaps 3-day winning streak to end marginally lower,realty worst hit

Market snaps 3-day winning streak to end marginally lower,realty worst hit

Ira Singh
07 Nov’23

The Indian equity market indices snapped 3-day winning streak on Tuesday, dragged by financials and realty stocks, tracking a drop in Asian peers on mixed trade data from China.

At close, the Sensex was down 16.29 points or 0.03 percent at 64,942.40, and the Nifty was down 5.05 points or 0.03 percent at 19,406.70.

Stocks and Sectors

Sun Pharma, BPCL, NTPC, Axis Bank and Dr Reddy’s Labs were top gainers on the Nifty, while losers included Hero MotoCorp, Coal India, Bajaj Finance, JSW Steel and Divis Labs.

On the sectoral front, healthcare and oil & gas were up 1 percent each, while realty was down one percent.BSE Midcap index rose 0.5 percent and Smallcap index was up 0.4 percent.

On 7 Nov’23,the Indian rupee settled lower by 5 paise to close at 83.26 against the US dollar in a range-bound trade on Tuesday, tracking a strong American currency overseas and sustained foreign fund outflows.

Forex traders said a negative trend in domestic equities also weighed on the local unit while a correction in oil prices provided support to the currency.

Experts Take:

Market experts have recommended five stocks to buy for Tuesday- COLPAL, LT, Hero Motocorp, Lemon Tree Hotels and Exide Industries.