Friday, 15 December, 2017

Sensex trading flat; Fed policy statement eyed

Nifty hits record high in morning trade, Sensex surges 191 points Nifty scales fresh peak of 10167.15, Sensex climbs 235 pts
Sammy Stanley | 21 September, 2017, 00:14

The 30-share BSE Sensex also pushed higher by 151.15 points, or 0.47 per cent, to end at 32,423.76, its highest closing since August 2 when it settled at 32,476.74. The gauge had lost 21 points yesterday in a cautious trade.

"Domestic indices traded flat for the second consecutive day ahead of the Fed rate decision scheduled later today".

However, shares of Reliance Industries (up 2.32 per cent), Larsen & Toubro (up 1.45 per cent), GAIL (up 0.93 per cent), Tata Steel (up 0.90 per cent), HDFC (up 0.73 per cent), Indiabulls Housing Finance (up 0.67 per cent), Tata Power (up 0.65 per cent) and YES Bank (up 0.64 per cent) were the gainers of the Nifty50 index. FII's passive trading approach with capital inflow limited to primary market and debt also might have weighed down the momentum. There would be no such charge from January 1, 2020, the regulator said.

"Indian shares were little changed on Wednesday, while market heavyweight Reliance Industries hit a record high as a cut in mobile interconnect fee is seen benefiting the company's telecom unit", said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.

ICICI Bank fell as much as 1.2 percent and Bharat Petroleum declined up to 2.8 percent after two straight sessions of gain.

Sun Pharma, Ambuja Cement, Tata Motors, Hero Moto Corp and BPCL paced the decliners, while Dr Reddy's Laboratories, Bank of Baroda, Tata Steel, ITC and ONGC were among the prominent gainers.

Hong Kong's Hang Seng was trading higher by 1.07 per cent, while Shanghai Composite rose 0.25 per cent in late morning trade.

Larsen and Toubro gained after the engineering firm announced that it has received a contract worth Rs 1,700 crore from Kuwait Oil Co. Even domestic institutional investors (DIIs) offloaded shares worth a net Rs 77.68 crore yesterday, as per provisional data.

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