Sensex, Nifty trade lower, Axis Bank shares fall over 1%

Owen Stevens
May 3, 2017

April 27 Indian shares were little changed on Thursday after hitting record highs the previous day as investors took a breather and booked profits in recent outperformers such as ITC Ltd, while Axis Bank fell on a drop in quarterly profit.

On Tuesday, the Sensex closed at 29,943.24 points.

The Sensex touched a high of 30,167.09 points and a low of 29,968.57 points during the intra-day trade.

The rupee appreciating to 64.21 against the dollar (intra-day) at the forex market too boosted sentiments.

However, this week the NSE Nifty index and BSE Sensex inched closer to a 2 per cent gain to mark its best performance since mid-March.

The NSE Nifty reclaimed the 9,200-mark by surging 98.55 points, or 1.08 per cent, to close at 9,217.95 after moving in a range of 9,225.40 and 9,130.55.

Most Asian market ended lower as geopolitical concerns continued to loom over the markets.

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According to Jasani, the market was volatile as traders rolled over positions in the futures and options (F&O) segment from the near month April 2017 series to May 2017 series.

"Along with PSU banks, metal remained top performing sectors on a positive side".

The Sensitive Index (Sensex) of the BSE, which had closed at 30,133.35 points on Wednesday, opened higher at 30,141.39 points.

Meanwhile, domestic funds bought shares worth a net Rs 984.17 crore on Monday, while foreign portfolio investors (FPIs) sold stocks worth a net Rs 279.55 crore, as per provisional data from the stock exchanges.

Asian markets were weak with Japan's Nikkei and Hong Kong's Hang Seng closing down 0.3% each, Korea's Kospi was down 0.2% and Singapore's Strait Times was up 0.1%.

The blue-chip CSI300 index fell 0.2 per cent, to 3,439.75 points, while the Shanghai Composite Index edged up 0.1 per cent to 3,154.66 points.

Some of the key stocks that gained were M&M, ITC, HDFC, Hindalco, HUL and ICICI Bank while Adani Ports, Tech Mahindra, Infosys, Dr Reddy's Labs, Reliance and BHEL declined.

Other reports by VgToday

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