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SI Reporter | New Delhi Last Updated at August 3, 2018 09:36 IST
Mutual funds load large-caps, reduce small-caps in first quarter Expensive valuations and re-categorisation norms have led to churn in mutual fund (MF) holdings, with money flowing out of mid- and small-caps and moving into large-caps, an analysis of latest shareholding data shows. In the June quarter, MFs’ ownership of large-caps rose 120 basis points (bps) from the levels they held in the September quarter, before the market regulator issued a circular on re-categortisation. Meanwhile, ownership levels in mid-caps inched up 90 bps, while that in small-caps reduced 10 bps. READ MORE HERE Nifty sectoral trend BSE Sensex heatmap Market at open At 9:15 AM, the S&P BSE Sensex was trading at 37,374, up 209 points while the broader Nifty50 was ruling at 11,305, up 60 points. Markets at pre-open Index Current Pt. Change % Change S&P BSE SENSEX 37,349.71 +184.55 +0.50 S&P BSE SENSEX 50 11,772.03 -98.16 -0.83 S&P BSE SENSEX Next 50 33,598.59 -134.34 -0.40 S&P BSE 100 11,529.01 -88.68 -0.76 S&P BSE Bharat 22 Index 3,531.87 +3.23 +0.09 Derivatives strategy on by HDFC Securities: Buy Manappuram Finance August 110 Call at Rs 5.50 Stop loss of Rs 3 Target at Rs 10 Rationale: We have seen Long positions being built in Manappuram Finance futures’ during the August series till now where we have seen 11% Rise in Open Interest with Price rise of 6%. Stock price has given breakout on the daily chart yesterday by closing above the previous resistance of 108 levels with higher volumes
Markets opened higher on Friday after Asian shares gained, following the tech-led rally on Wall Street. The rally was driven by Apple shares as the iPhone maker became the first publicly traded US company worth a trillion dollars.
Stock specific action will also continue with over 75 companies scheduled to report their June-quarter earnings today including Nestle India, Bank of Maharashtra, SAIL among others.
Globally, Asian stocks were steady on Friday, with gains from the tech-led rise on Wall Street capped by the latest exchange of trade threats between Beijing and Washington, while safe-haven flows lifted the dollar to a two-week high.
Investors also remain cautious ahead of the July US jobs report due later on Friday, which will give a reading on the health of the world’s largest economy and possible clues about the pace of Federal Reserve interest rate rises.
MSCI’s broadest index of Asia-Pacific shares outside Japan inched down 0.03 per cent. The index was down about 0.6 per cent for the week, during which it slumped to a two-week high on Thursday on US-China trade tensions.
(With Reuters inputs)
First Published: Fri, August 03 2018. 08:11 IST
View Source: https://www.business-standard.com/article/markets/markets-live-sensex-nifty-apple-wall-street-rbi-rate-hike-asia-118080300124_1.html