Published: Fri, April 28, 2017
Business | By Max Garcia

Negative global cues pull down Sensex, Nifty

Negative global cues pull down Sensex, Nifty

Led by sustained buying amid positive global cues, the Indian equity markets reached new closing highs during today's trade.

On closing basis, the NSE Nifty of the National Stock Exchange (NSE) inched down by 9.70 points or 0.10 per cent to close at 9,342.15 points.

The BSE 30-share Sensex was quoting at 29,926.96 at 1430 hrs, up 271.12 points, or 0.91 per cent.

The 50-share NSE Nifty ended lower by 38.10 points, or 0.41 per cent, at 9,304.05, after shuttling between 9,342.65 and 9,282.25.

Market breadth was negative with 1,326 advances against 1,369 declines. "Any selloff can be partly attributed to profit taking, especially ahead of the three-day weekend", said Deepak Jasani, HDFC Securities. "European markets like CAC and DAX now traded in slight positive note and the FTSE 100 traded in minor negative note".

"Major Asian markets have ended on a mixed note".

Financial stocks, which have the biggest weightage on the Sensex, were among the top gainers for the week.

The currency was last changing hands at 64.11 rupees to one USA dollar, stronger than Tuesday's close of 64.28 rupees.

Domestic funds bought shares net Rs 1,132.39 crores last Friday while foreign funds sold shares net Rs 978.34 crore as per the provisional figures issued by stock exchanges.

"Most banking stocks witnessed firm price movement throughout the session".

Experts said the near-term direction of the market would depend largely on the U.S. tax plan announcements.

Bharti Infratel, ITC, HDFC, HDFC Bank, Reliance Industries, TCS, Cipla, Hindustan Unilever, Infosys and Indian Oil were among the losers.

Meanwhile, the BSE Mid-cap Index closed up by 0.9% at 14625 while the BSE Small-cap Index closed up by 0.8% at 15291.

However, ONGC rose 3.76 pct, SBI 2.66 percent, Maruti 2.42 percent, Asian Paints 1.62 percent, ICICI Bank 1.62 percent, Adani Ports 1.25 percent, Gail 1.23 percent, Hero Motoco 1.00 percent, Sun Pharma 0.88 percent and Coal India 0.80 percent. India VIX closed lower by 1.51% at 10.9 levels.

This is published unedited from the IANS feed.

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