Markets settle on Friday flat ahead of Dec IIP data; TCS gains 2%


Benchmark indices settled the day flat even ahead of December factory output later today on hopes of reviving economy. The factory output grew by 5.7% in November even after the note ban announced by PM Narendra Modi.

 

Sentiment was also affected as Asian shares rallied to an 18-month peak on Friday, as investors cheered upbeat Chinese trade data.

 

Nifty 50 continued to hover around 8,800 levels, gaining for third consecutive week, led by TCS, Grasim, Tech Mahindra and Infosys.

 

The BSE Sensex index rose 0.4% this week while the NSE added 0.6% even after the RBI held rated for the second time and changed its stance to ‘Neutral’ from ‘Accomodative’
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Nifty ends just below 8,700 amid consolidation; RIL, Cipla fall 2%


Benchmark indices ended lower weighed down by profit taking in financials and index heavyweight Reliance Industries. However, the downslide was limited due to buying interest in select IT and FMCG shares.

The benchmark S&P Sensex closed at 28,077 levels, down 52 points or 0.2%. Nifty50 index slipped 6 points, or 0.1%, to close at 8,693 levels. The broader markets out performed the benchmark indices. The S&P BSE Midcap and Smallcap rose 0.1%-0.3%.

Cipla was the top Sensex loser, down over 3% after the pharma major today lost a case related to overcharging in certain drugs, in violation of the provisions of drug (price control) order, 1995. As per the company’s latest annual report, it had received notices of demand aggregating to Rs 1,768.51 crore.

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Have Markets overcome the Brexit hangover?


On Friday, July 1, 2016, Shriram City was the most active stock on Bombay Stock Exchange after multiple block deals. Mahanagar Gas, L&T, Sun Pharma, ITC, SBI and Axis Bank were other most active shares on exchanges.

The Sensex closes up 145.19 points or 0.5 percent at 27144.91, and the Nifty was up 40.60 points or 0.5 percent at 8328.35. About 1559 shares have advanced, 1157 shares declined, and 139 shares are unchanged. ONGC, BHEL, L&T, GAIL and Dr Reddy’s were top gainers while TCS, Coal India, Adani Ports and HDFC were losers.

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