Indices end lower on Friday, Nifty fails to hold 10700; bank stocks fall


Benchmark indices edged lower on Friday as losses in financials offset gains in auto stocks, with investor focus shifting to the monsoons.

The S&P BSE Sensex ended at 35,227, down 95 points while the broader Nifty50 index settled at 10,696, down 40 points.

Among sectoral indices, the Nifty Bank index ended over 1% lower led by a fall in the shares of IndusInd Bank and Federal Bank.

Meanwhile, government data showed on Thursday that Indian economy grew 7.7% year-on-year in January-March, its quickest pace in nearly two years driven by higher growth in manufacturing, the farm sector and construction.

Adani Power Mundra, a subsidiary of Adani Power, is likely to approach the National Company Law Tribunal (NCLT) for bankruptcy protection. This comes after its lenders stepped back from stake-sale negotiations with Gujarat Urja Vikas Nigam (GUVNL), the state power distribution company.

Sun TV Network fell for fifth straight session, down 3.9% at Rs 881.85, on the NSE. Sun TV Network jumped 5.69% in last one year as compared to a 10.94% rally in Nifty and a 1.48% spurt in the Nifty Media index.

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In first trading session of Samvat 2074, Sensex dives 194 points


Trading in Samvat 2074 got off to a rocky start, with the benchmark indices ending more than half a % lower and gauge for banking stocks dropping 1.25%. The BSE Sensex on Thursday fell 194.4 points, or 0.6% to close at 32,390, the Nifty 50 index fell 64.3, or 0.63% to close at 10,147.

The fall in the market was on account of a global sell-off which saw the Hong Kong market tumble the most this year and the European equities fall the most in two months. Market players said some domestic investors also resorted to profit-booking after a healthy 18% rally in the just-concluded Samvat 2073.

The BSE Bankex fell 1.3%, with ICICI Bank, Kotak Mahindra Bank and HDFC Bank declining 2%, 1.6% and 1% respectively. These three stocks accounted for half of the fall in the benchmark Sensex.

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Reblog: Nifty ends the week at 9,108; logs 1st weekly fall in March; banking stocks gain


The benchmark indices on Friday settled higher thanks to gains in banking stocks following news reports that the Finance Minister Arun Jaitley has promised to offer a solution to the growing non-performing assets (NPA) crisis in next few days.

The S&P BSE Sensex ended at 29,421, up 89 points, while the broader Nifty50 settled at 9,108, up 22 points. Both the indices logged their first weekly loss in March, retreating from a record high hit last week.

In the broader market, the S&P BSE Midcap ended 0.1% down, while the S&P BSE Smallcap index gained 0.3%.

The market breadth, indicating the overall health of the market, turned negative. On the BSE, 1,471 shares declined and 1,346 shares advanced. A total of 218 shares were unchanged.

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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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