Wednesday 28 June 2017

Nifty Closes Lower For 6th Straight Session,1st Time In 2017

Posted by suhani varma on Wednesday, June 28, 2017 with No comments
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NSE Nifty closed at 9,491 down by 20 points, whereas BSE Sensex closed lower by 123 points at 30,834.BSE Mid-cap index closed higher by 0.23% at 14,502. BSE Small-cap index closed higher by 0.13% at 15,161. India VIX closed higher by 4.1% at 11.9 level. There were 845 advances, 785 declines and 320 unchanged stocks on NSE reflecting mixed sentiments floating in the market.

Tech Mahindra, Yes Bank and Vedanta are the top Nifty gainers, whereas Reliance Industries, Asian Paints & HDFC are the top Nifty losers in Wednesday’s trade.

National Pharmaceutical Pricing Authority (NPPA) on Tuesday announced provisional ceiling prices for 761 medicines, including HIV, diabetes, anti-cancer and antibiotic. Prices for a majority of drugs are being reduced as the GST regime is nearing its implementation deadline of July 1.

Heavyweight pharma stocks such as Sun Pharmaceuticals Industries closed at Rs 545.20 per share up by 0.29%, Cipla closed higher by 0.51% at Rs 537.05 per share and Cadila Healthcare closed higher by 0.67% at Rs 529.00 per share on BSE in Wednesday’s trade. Fortis Healthcare rallied nearly 4% as markets buzz suggested that its diagnostic arm may list on the bourses. The stock closed by Rs 166.95 per share up 1.15% on BSE.

Welspun Enterprises surged nearly 7% on BSE. The stock also hit a 52-week high value at Rs 122.25. It witnessed a spurt in the volume by more than 4.26 times. The stock closed higher by Rs 114.95 per share on BSE.

ABG Shipyard hit the roof during Wednesday’s trading session as market speculations suggest that UK Liberty House is in talks to buy the debt-burdened company. The stock ended up by 4.97% at Rs 13.72 per share on BSE. The stock was locked in upper circuit of 5% at Rs 13.72 on the BSE in its opening trade. The stock has been hitting its upper circuit for the 5th straight session on Wednesday.

Motherson Sumi shares witnessed a jump by 1% as the shareholders approved the issuance of bonus shares to existing shareholders. The stock ended bearish slipping 1.55% at Rs 462.65 per share on BSE.


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