Benchmark indices were off day's high in the afternoon as investors turned cautious ahead of the outcome of US Federal Reserve's policy meeting due later today. The S&P BSE Sensex and Nifty Bank slip over 200 points from intra-day highs
The S&P BSE Sensex which rallied over 300 points in trade on Wednesday failed to hold on to momentum and closed with gains of just over 100 points. The Nifty failed to close above its crucial 200-days exponential moving average (DEMA) for the second day in a row.
Benchmark indices were off day's high in the afternoon as investors turned cautious ahead of the outcome of US Federal Reserve's policy meeting due later today. The S&P BSE Sensex and Nifty Bank slip over 200 points from intra-day highs
The Nifty slips 72 points from its intra-day high of 10,227.30 to close below 200-DMA. But, the market breadth turns in favour of declines at the close. The index closed 30 points higher at 10,155 but before its crucial 200-DEMA placed around 10,165.
The S&P BSE Sensex reclaimed Mount 33K as the index closed 139 points higher at 33,136. It rose to an intraday high of 33,354.93 and an intraday low of 33,070.53.
The S&P BSE Midcap index closed 0.2 percent higher while the S&P BSE Smallcap index rose 0.3 percent.
On the sectoral front, telecom, realty, capital goods, finance, power stocks rallied while metals, healthcare, and basic material stocks saw some more profit booking.
Stocks in News:
Bharti Airtel closed 4.6% higher at Rs418.60 after Goldman Sachs reiterated its buy rating and add the stock to its conviction list and added it to the conviction list as the risk-reward appears attractive.
Max Financial Services closed 2.4 percent higher as company board approved raising up to Rs 5,000 crore via debt to invest in Max Life
Reliance Communications Ltd: Reliance Communications Ltd rose 9.5 percent after the company said that its bondholders approved its asset selling plan. Holders of the company’s $300 million bonds have approved the sale of assets to Reliance Jio Infocomm Ltd, owned by Mukesh Ambani-led Reliance Industries Ltd, and monetisation of other real estate assets, RCom said in a statement. (Reuters)
Ashok Leyland rose 1.03% as it won an order worth Rs321 crore for supply of 2,100 buses from the Institute of Road Transport in Tamil Nadu.
TRF shares jump over 4% on divestment proposal in the unit. TRF Ltd said that the board of directors of TRF Singapore Pte. Ltd and TRF Holdings Pte. Ltd has recommended for the sale/divestment of the entire shareholding in step down subsidiary York Transport Equipment (Asia) Pte Ltd. TRF shares rose 4.65% to Rs208.10.
Shares of Steel Strips Wheels (SSWL) rose 1.7 percent on winning an export order for UK aftermarket. The company has bagged another exports order for supply of steel wheels for UK Aftermarket.
The share price of Jubilant Foodworks rose 4.03% on introducing Everyday Value at Rs 99 for small group size pizzas. Domino’s Pizza announced the launch of everyday value price in its range of regular sized pizzas.
Global Markets:
Most Asian markets end lower as investors focused on the Federal Reserve after it kicked off its March meeting in the previous session. Japan Nikkei, China Shanghai Composite, Hang Seng were down around 0.3-0.5 percent
European markets edged lower, as investors awaited a likely hike in US interest rates later in the day. France CAC, Germany DAX, and Britain FTSE were down 0.3 percent each at the time of writing this article.
