Wednesday, 3 May 2017

Consolidation Persists In The Markets, Fed Policy Eyed

Posted by suhani varma on Wednesday, May 03, 2017 with No comments

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--------------------------------------------------------------------------------------------------------------------------------- After a lacklustre session, the Indian benchmark indices closed lower. Nifty retained 9300 mark but closed lower by 0.1% at 9304. Sensex shed 66 points and closed below 29900 at 29855. The sluggish movement was ahead of ICICI Bank corporate earnings and FED’s decision during the policy review, which is most likely to remain unchanged.

Broader markets, BSE Mid-cap Index underperformed and closed down 0.3% at 14810; whereas, BSE Small-cap Index slightly outperformed and closed almost in line with the previous close at 15430 levels.Markets closed with negative bias with 931 advances, 919 declines and 308 unchanged stocks on NSE, reflecting bearish undertone floating in the market.

On the sector specific front, Nifty Realty, IT and PSU Bank surged more than 1% while Media refrained markets from gaining grounds and lost 1.6%. Bharti Infratel, Power Grid, Ultratech Cements and TCS surged 2% plus each while Lupin remained the top loser with 2.8% losses in Nifty.

Time Technoplast closed at Rs 134.5 per share, up by Rs 20.4 or 18%.

Arrow Green closed at Rs 527 per share, up by Rs 77 or 17%.

Ballarpur Industries closed at Rs 21.2 per share, up by Rs 2.3 or 12%.

Intellect Design Arena closed at Rs 139 per share, up by Rs 13.6 or 10.8%.

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