Showing posts with label Stock Advice. Show all posts
Showing posts with label Stock Advice. Show all posts

Wednesday 3 May 2017

Markets end little changed ahead of US Federal outcome; Godrej Properties’ shares rallied 14%

The key benchmark indices settled lower on Wednesday tracking mixed trend floated in Asian and European markets.  Investors were concerned over the chances of another rise in interest rates next month ahead of the U.S Federal Reserve's policy results due later today.
The BSE Sensex closed at 29,894.80 down 26.38 points, while the NSE  Nifty 50 settled at 9,311.95 down 1.85 points.  The secondary barometer,  BSE Mid-cap pared all gains to end 0.3% lower, whereas the BSE Small-cap ended little changed.  On the BSE, 1,488 shares rose and 1,357 shares fell. A total of 161 shares were little affected.
Among individual stocks, ICICI Bank fell over 1 percent to Rs 273 ahead of its March quarter earnings announcement  due later in the day.  HDFC, Tata Motors Lupin, and Maruti Suzuki were the top losers on Sensex.
Godrej Properties’  shares rallied 14% to Rs 575 in intraday after the company declared that it has sold over 1,000 apartments across three new project launches since March 2017. Godrej Properties’  stock settled 7% higher at Rs 542.
Stocks of Spice Jet crossed a record high of Rs 116.90, up 4% on BSE surpassing its previous high of Rs 115 hit on September 5, 2005.
Meanwhile, engineering company IRB Infrastructure became the first firm to announce a public offer in the InvITs space with a Rs 5,000 crore plus the public issue of its fund opening today. The IPO of engineering company IRB Infrastructure, closes on May 5 and commands a price band of Rs 100 to 102 per unit.

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