Tuesday, 27 June 2017

Nifty Holds 9500, Sensex Closes Below 31K For First Time Since May 25

Posted by suhani varma on Tuesday, June 27, 2017 with No comments
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Nifty closed at its one month low but managed to hold its 9500 level, closing lower for the fifth straight session, whereas the Sensex closed below 31,000 for the first time since May 25. 17 Stocks in the Nifty50 index closed in green while 34 ended in the red.

NSE Nifty closed at 9511 levels, lower by 63 points or 0.66%, whereas the Sensex closed at 30958 levels, lower by 179 points or 0.58%.On the sectoral front, Financials, IT and Auto indices dragged the markets, while Energy and Telecom ended higher in trade.While, BSE Mid-cap Index closed down by 0.79% at 14468 whereas, BSE Small-cap Index closed down by 1.57% at 15141.

There were 297 advances, 1145 declines and 31 unchanged stocks on NSE, reflecting a bearish undertone floating in the market.IOC was the top Nifty gainer whereas, Bank of Baroda was the top Nifty loser.

Bank Nifty showed weakness for whole trading session of Tuesday. The index was trading lower by 320 points or 1.34% at around 23227 level. Canara Bank and Punjab National Bank were the top losers in Bank Nifty trading lower by more than 4%. Canara Bank closed at Rs 322.55 lower by 4.9%, while PNB closed at Rs.136 lower by 5.3%.

Tejas Networks Limited got listed on BSE at Rs 257 per share which is its issue price. However, the stock surged by over 3% to Rs 265.9 per share in the first few minutes of trading on Tuesday. The stock closed at Rs 262.60 higher by 2.18%.

Shares of Jaypee group companies like Jaiprakash Associates, Jaypee Infratech and Jaiprakash Power Ventures rallied over 12% on BSE. Jaypee Infratech, and Jaiprakash Assocaites was locked in upper circuit during the trade. Jaiprakash Power Ventures surged over 12% at Rs 5.18 per share.

Aviation stocks SpiceJet, Jet Airways and InterGlobe Aviation were trading down in the range of 2% to 4%, for the second straight session as some recovery was seen in crude prices.

Infibeam Incorporation was trading inn green as the company said that its board of directors have approved the sub division/ split of equity shares of the company. The stock closed at Rs 1050 higher by 1.3%.

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