Indian equity firms on Thursday pulled their fall for the fourth time directly within the choppy trade. Mortgages were closed weakly but kept their intraday close today, driven by a recovery in banking stocks. Indexes started higher but soon dropped all their respective gains as investors waited for additional US data, set to release later in the day.
The extra branches will give kisses on the Federal Reserve’s rate hike plans.
Back home, 30-pin BSE Sensex dropped 276 points or 0.51 per cent to close at 54,088, while extended NSE Nifty moved 73 points or 0.45 per cent down to settle at 16,167. This Sensex has a value of 1,079 points so far.
The stock market is also weak as participants are waiting for the April retail or additional user data of the consumer price, due to be released at 5:30 pm on Thursday. CPI inflation may have increased in April, standing well above the Reserve Bank of India’s (RBI’s) upper end for the fourth consecutive month, a Reuters poll showed.
The middle- and lower-cap ended weak as the Nifty Midcap 100 fell 0.36 per cent and the low-cap dived 2.91 per cent.
10 of the 15 acres – compiled by the National Chamber of Commerce – live in red. Nifty Metal, Nifty Consumer Durables and Nifty Oil & Gas indexed the index by falling as much as 5.20 per cent, 2.24 per cent and 2.29 per cent, respectively.
10 of the 15 acres – compiled by the National Chamber of Commerce – live in red. The lower-down Nifty IT, Nifty Auto and Nifty FMCG index showed negligence by falling as high as 1.24 per cent, 0.91 per cent and 0.69 per cent, respectively.
On the market-specific front, Shree Cement was the biggest loser as the stock took 3.30 per cent to Rs 23,499. Bajaj Finserv, L&T, NTPC and BPCL are also among the losers.
The overall market remained negative as 812 shares advanced while 2,581 declined on the BSE.
On the 30-pin index BSE, L&T, Bajaj Finserv, Bajaj Finance, NTPC, Infosys, Maruti, PowerGrid, ITC, HCL Tech and Reliance Industries are among the top performers.
In contrast, Axis Bank, IndusInd Bank, HDFC twins (HDFC and HDFC Bank), ICICI Bank, Kotak Mahindra Bank, Bharti Airtel, M&M, SBI and Tata Steel ended up in the green.