Sensex ends flat on Friday, Nifty below 10,100; indices up 1% for the week


Equity benchmarks rebounded in last hour of trade, but ended flat supported by index heavyweights Reliance Industries, HDFC Bank and Infosys. The indices were up 1% for the week.

The S&P BSE Sensex settled at 32,272, up 30 points while the broader Nifty50 index ended at 10,085, down 1 point

Among broader markets, BSE Midcap index underperformed the benchmarks indices, down 0.3% while BSE Smallcap index was up 0.4%

Global stocks remained subdued after North Korea fired another missile over Japan into the Pacific Ocean on Friday, in a sign that Pyongyang remains defiant despite tightening international sanctions.

The Nifty Pharma Index was down 0.5%, breaking its three-day winning streak.

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Sensex rises 124 points, Nifty50 ends near lifetime high


In a highly volatile session, the domestic equity market ended on a positive note with BSE Sensex just 40 points shy of its record high level and Nifty50 closing near its all-time high.

Sensex closed 124 points or 0.39 per cent higher at 32,020.89 while Nifty50 closed the day at 9,915.25, up 42 points or 0.42 per cent.

The 30-share pack had opened at 32,035.88 and touched an intraday high and low of 32,062.23 and 31,808.93, respectively, as index heavyweights WiproBSE 6.47 % (up 6.54 per cent) and Reliance (up 3.75 per cent) hogged the limelight.

BSE Midcap index gained 6 points or 0.04 per cent to 15,185.53 as shares of Adani Power, Bajaj Holdings and Bajaj Finserv surged up to 7 per cent.

On the other hand, BSE Small Cap index shed 7 points or 0.05 per cent to end the day at 15,992.63 as shares of Gujarat NRE Coke (down 6.55 per cent), Nucleus (down 6.07 per cent) and Dish Tv (down 5.85 per cent) capped gains.

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Markets settle holiday-truncated week lower, Nifty ends at 9,150


The benchmark indices on Thursday settled the holiday-truncated week lower after index heavyweight Infosys’ revenue guidance and plan to distribute cash to shareholders fell short of expectations, raising concerns at the start of the March quarter earnings.

The geopolitical worries, after the United States launched cruise missiles against an air base in Syria last week and fears of a new weapons test by North Korea, also contributed to the losses.

Investors also took cues from the index of industrial production (IIP) data, which contracted in February and consumer price index (CPI)-based inflation data, which edged up in March.

The S&P BSE Sensex settled at 29,461, down 182 points, while the broader Nifty50 ended at 9,150, down 53 points. For the week, the Sensex shed 245 points or 0.8%, while the Nifty slipped 47 points or 0.5%.


Rupee, IT stocks, global cues take the Sensex 456 points higher on Friday


Snapping previous session’s losses, the benchmark indices on Friday staged a smart recovery led by gains in IT and pharma stocks after the rupee on Thursday hit its all-time low against dollar. Positive global cues as dollar retreated from 14-year high mark also added to the gains.

The S&P BSE Sensex settled the day at 26,316, up 456 points, while the broader Nifty closed at 8,114, up 149 points. In broader markets, BSE Midcap was up 1.3% while smallcap ended 2% higher.

Export-driven businesses like information technology (IT) and pharmaceutical rallied on the index today after rupee touched its record low on Thursday. These stocks earn more revenues on rupee depreciation as every dollar earned through exports means more rupees added to their bottom line.


Reblog: Seeking stocks that beat market returns? Apply these 2 filters


This is an interview with Saurabh Mukherjea, author of the book ‘The Unusual Billionaires’. The original post appears here on moneycontrol.com.

Saurabh feels the buy-and-hold approach to investing holds true even as volatile financial markets and disruptive changes across sectors are questioning its validity.

Consistent revenue growth combined with a consistent return on capital employed: if a company has been delivering on these two parameters for over ten years, then look no further. That, in effect, is the theme of Saurabh Mukherjea’s second book ‘The Unusual Billionaires’. The book says that a portfolio of companies which satisfies both these criteria will invariably beat the market over the next decade and more.

Mukherjea, whose day job is CEO, Institutional Equities at Ambit Capital, feels the buy-and-hold strategy for stock investing holds true even as volatile financial markets and disruptive changes across sectors are questioning its validity.

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