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Sensex slips 200 points, IT stocks plunge
Mumbai, Jan 14 (IANS) The key Indian equity indices declined on Thursday morning with the BSE Sensex down around 200 points.
Heavy selling pressure was witnessed in IT and metal stocks.
Around 10.20 a.m., Sensex was trading at 49,292.97, lower by 199.35 points or 0.40 per cent from its previous close of 49,492.32 points.
It opened at 49,432.83 and has touched an intra-day high of 49,487.86 and a low of 49,182.37 points.
The Nifty50 on the National Stock Exchange was trading at 14,504.35, lower by 60.50 points or 0.42 per cent from its previous close.
Manish Hathiramani, Technical Analyst with Deen Dayal Investments said: "There is a clear indication that markets have resisted from 14,600-14,650 levels. In the short term, 14,300-14,400 is good support and if we break that, 14,000-14,100 could be the next pit stop for the Nifty."
"On the upside, a close above 14,600 could lead us to 14,750-14,800," he said.
The top gainers on the Sensex were IndusInd Bank, ITC and Larsen & Toubro, while the major losers so far were HCL Technologies, Infosys and Tech Mahindra.
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Franklin Templeton's shut funds receive Rs 13,789 cr so far
New Delhi, Jan 17 (IANS) The six shut schemes of Franklin Templeton Mutual Fund have received cash flows of Rs 13,789 crore since winding up in April, 2020 till January 15, 2021.
According to the fund house during January 1-15, these schemes received Rs 669 crore, of which Rs 617 crore was as pre-payments.
Further, the cash available as of January 15, 2021 stands at Rs 9,190 crore for the five cash positive schemes, subject to fund running expenses.
Individually, Franklin India Low Duration Fund, Franklin India Ultra Short Bond Fund, Dynamic Accrual Fund, Credit Risk Fund and Short Term Income Plan have 63 per cent, 50 per cent, 41 per cent, 26 per cent and nine per cent of their respective assets under management in cash, Franklin Templeton said in a statement.
Borrowing levels in Franklin India Income Opportunities Fund continue to come down steadily and currently stands at six per cent of AUM, it said.
--IANS
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