Sensex, Nifty close slightly lower as healthcare, FMCG stocks fall

BSE Sensex rose for a second consecutive day on Friday and was on track to gain a small weekly gain as investors hunted for bargains after recent falls, with Reliance Industries leading gainers after the company commissioned a key hydrocarbon unit.

The barometer index, the BSE Sensex, fell 57 points or 0.19% at 29,365.30, while the Nifty50 index fell 17 points or 0.19% at 9,119. Slackness in European stocks dampened sentiment. BSE Small-cap and BSE mid-cap hit record highs, with the Nifty Smallcap-100 index rising 1.1%, while the Nifty Midcap-100 index up 0.6%.

Reliance, HDFC Bank and NTPC gained the most on BSE Sensex while ITC, Sun Pharma, Adani Ports and Cipla were the biggest losers on the index.

HDFC Bank’s shares hit record high of Rs 1,500, up 2.6% on BSE after the bank reported a better growth of 18% in standalone net profit at Rs 3,990 crore for the quarter ended March 2017.

Asian stocks finished mixed from the most recent closing prices. European markets are lower. The rupee was trading at Rs 64.57 against the US Dollar in the afternoon session, while Oil prices were trading at USD 50.67.

Sensex up 85.82 points, Nifty above 9100; bank stocks fall

Benchmark indices on Thursday ended on a positive note with the Sensex rising up 85.82 points at 29,422.39, while the NSE Nifty-50 Index was up 32.90 points at 9,136.40.

The broader BSE Midcap and the BSE Smallcap indices outperformed, gaining 0.6% and 1.1%, respectively. The market breadth was positive with 1,813 shares advanced while 1,054 shares declined and 174 shares unchanged.

Grasim Industries, GAIL India, Adani Ports and Bank of Baroda were top gainers on BSE and NSE, while Yes Bank, ICICI Bank and Axis Bank were the top losers. The Bank Nifty closed lower by 0.305 at 21,491.

Nifty Realty index rose 2.1% as the leading sectoral gainer, led by gains in Oberoi, Sobha, Realty and Godrej Property which has risen up to 8% on the NSE.

Aviation companies shares rose, i.e. Inter Globe Aviation (up 7%) Jet Airways (up 6%) Spice Jet (up 10%) after data showed that air traffic during March quarter was 18.6% higher than the corresponding period last year.

Sensex up 17 points, Nifty closes above 9,100; Power Grid gains

Key benchmarks ended the Wednesday on a positive note, with the Sensex rose up 17.47 points at 29,336.57, while the NSE Nifty-50 Index was down 1.65 points at 9,103.50. The broader market was depicted strength with the BSE Midcap having gained 0.7% while BSE Smallcap gained 0.8%.

The market breadth was positive, with a number of 1,615 advancing shares against a decline of 1,223 nos, while 181 shares were unchanged, reflecting bullish sentiments floating in the market.

Shares of Power Grid Corpn gained 4.25% to Rs. 210.95, while IndusInd Bank shed 0.68%.  BHEL, Adani Ports, Bharti Infratel and Power Grid were the top gainers on both BSE and NSE, while Hero MotoCorp, Aurobindo Pharma and SBI were the laggards.

European shares were trading on higher note while the Asian stocks edged lower after British Prime Minister Theresa May decided to hold early elections.