Sensex down 267 points, Nifty 0.80% lower on profit booking

The  NSE Nifty hit a record high on Friday early trade, but reversed course to trade lower amid weak Asian markets, due to  a drop in crude prices. On closing, BSE Sensex marked  lower by 267.41 points, or 0.89%, to 29,859, while the NSE Nifty 50 fell 75 points, or 0.80%, to 9,285.30.
The Nifty PSU bank index advanced  2.35% to its highest since 4 March 2015, with SBI  jumping more than % and Canara Bank gaining around 7%. PSU Bank stocks trading higher in the morning hours and were trading close to its 52-week high. The Canara Bank from the PSU Bank stocks was the lead  performer today, touching  intraday high of Rs. 416 per share.
Indian oil explorers fell on weak crude oil prices, with ONGC and Oil India going down more than 2% each. Oil refiners and airlines stocks advanced with IOC climbing 2.1%. while Spice jet was up 8.4%.
Asian stocks registered a mixed trend. U.S stocks closed almost flat yesterday, 4 May 2017, since energy stocks put a lid on the broader market despite slide in crude oil prices.

Sensex gains 231 points, Nifty ends above 9350 as banking stocks jump

Indian Stock market registered modest gains buoyed by encouraging sentiment in European trading. The BSE Sensex rose 231.41 points at 30,126.21. The NSE Nifty-50 index rose 47.95 points at 9,359.90. The Sensex settled higher than the psychological 30,000 level. The market breadth was balanced. About 1,428 shares advanced against 1,431 declining shares on the BSE.

Public sector banks’ stocks surged on reports that the Union Cabinet approved promulgation of an ordinance to modify the Banking Regulation Act for resolution of the bad loan trouble facing banks. Union Bank of India rose 6.72%, IDBI Bank surged 2.46%, SBI up 3.39%, Bank of Baroda rose 3.06% and PNB edged higher, BY 3.41%.

Housing finance topper HDFC declined 1 percent at Rs 1,555.35 after its consolidated profit fell 21.58 percent to Rs 2,044.20 crore on 7.7% decline in total income to Rs 8,514.51 crore in fourth quarter March 2017 year-on-year. The result was posted during market hours today.

Overseas, European stocks jumped higher aided by corporate earnings. Asian stocks clocked a mixed trend after the U.S Federal Reserve showed it remains on track to deliver two more rate hikes by year-end.

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.