Friday, 20 October, 2017

Midcap outperforms Sensex, Nifty ends below 9650; IT bleeds further, pharma shines

BSE Sensex opens higher RBI maintains short-term lending rate, cuts SLR
Juana Turner | 18 June, 2017, 00:53

The S&P BSE Sensex shed 58 points to end the session at 31,213, with TCS (down 3.59 per cent), GAIL (down 3.44 per cent) and Hero MotoCorp (down 1.77 per cent) being the top losers. Some level of circumspection ahead of Wednesday's RBI policy review outcome resulted in profit-booking.

Indian capital markets traded higher on Wednesday.

The 30-share index resumed higher at 31,316.91 and hovered in a range of 31,354.51 and 31,193.77 before settling at 31,213.36, showing a loss of 57.92 points, or 0.19 per cent.

Also, market participants holding their bets ahead of the United Kingdom general elections and the European Central Bank (ECB) meeting added to the overall weak sentiment. It cut consumer inflation expectations to 2.0-3.5 per cent in the first half (April-September) of fiscal 2018 from 4.5 percent, and to 3.5-4.5 percent in the second half (October-March) of fiscal 2018 from 5 per cent.

In investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) purchased stocks worth Rs 73.79 crore, while domestic institutional investors (DIIs) bought scrips worth Rs 166.22 crore.

Globally, Asian stocks ended mixed as investors awaited directional cues from the three big upcoming events today and next week's Federal Reserve meeting. In Japan, the Nikkei 225 index closed 0.95% lower.

A total of 59 stocks registered a fresh 52-week high in trade on Thursday, while 23 stocks touched a new 52-week low on the NSE. The Nifty Pharma sub-index of NSE gained 2 per cent. Dr Reddy's Lab was the top gainer in Nifty, up 3.76 per cent followed by Sun Pharma, which added 3.38 per cent. HDFC, Tata Motors DVR and Cipla were the other top 5 gainers in Nifty rising between 1.5-2.2 per cent.

The BSE Realty index ended the session at 1,954.11.

However, the BSE market breadth was slightly bullish - with 1,351 declines and 1,330 advances.

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