Infosys, TCS create records, realty stocks take big hit 

Infosys, TCS create records, realty stocks take big hit 
05/09/2018 , by , in News/Views

Frontline equity index Sensex fell for the fifth consecutive session on Tuesday on profit booking amid a buzz of capital outflow due to rupee’s poor health, Sebi’s new KYC norm for FPIs and uninspiring global cues.

Rupee’s poor health hit market’s risk appetite as the domestic currency hit a fresh record low of 71.54 against the greenback on Tuesday, raising speculations that RBI may go for another rate hike in October policy review.
A rise in Indian bond yield and strengthening dollar also lured investors away from Indian stocks.

The Sensex fell for 155 points, or 0.40 per cent, to finish at 38,157, with just six stocks advancing and 25 declining. NSE’s Nifty50 closed the day 62 points, or 0.54 per cent, down at 11,520, leaving nine stocks in the green and 41 in the red.

Only six index stocks – Infosys (up 2.64 per cent), TCS (1.86 per cent), Wipro (1.42 per cent), Axis BankNSE 1.58 % (1.39 per cent), Reliance IndustriesNSE 1.04 % (0.97 per cent) and HDFC (0.79 per cent) – managed to settle with gains. Asian Paints (down 3.49 per cent), State Bank of India (3.20 per cent), Adani Ports (2.95 per cent), Hindustan Unilever (2.80 per cent) and Coal IndiaNSE -2.80 % (2.61 per cent) were the top five losers in the Sensex pack.

Shares of DLF, Sunteck Realty, HDIL, Indiabulls Real Estate and Sobha fell up to 5.34 per cent. The realty stocks have been falling in the wake of a Supreme Court order that directed a ban of all construction activities in the states of Maharashtra, Madhya Pradesh, Uttarakhand and Union Territory of Chandigarh unless a solid waste management policy was in place.

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