Sensex, Nifty open in green; banking sector takes a hit

Apr 21, 2017, 03:35
Sensex, Nifty open in green; banking sector takes a hit

Index heavyweight Infosys lost 0.4% to end at 918.80 rupees, racking up a cumulative loss of more than 5% since Apr. 13 after it announced a lower-than-expected revenue guidance for the fiscal year started in April. "Broad market indices like the BSE mid-cap and small-cap indices ended with bigger gains thereby outperforming the Sensex", Deepak Jasani, Head - Retail Research, HDFC Securities, told IANS. While the Sensitive Index was able to remain around the 29,300 mark, National Stock Exchange's Nifty recorded a gain of 16 advancing its performance from the previous day.

After reaching the day's low of 29,363.28, the Sensex recovered partially before settling down 47.79 points, or 0.16 per cent, at 29,413.66 - its lowest closing since March 27.

The NSE 50-share index opened lower at 9,144.75 and hovered in a range of 9,160.00 and 9,120.25 before ending at 9,139.30, showing a loss of 11.50 points, or 0.13 per cent.

Meanwhile, foreign portfolio investors (FPIs) net sold shares worth Rs 673.38 crore during Wednesday's trading session, as per provisional data.

Shares of private lender Yes Bank, however, plunged 6.50% to Rs 1,501 after the asset quality of the bank slipped in the results declared yesterday. The market finally ended in green after declining for five consecutive days.

Top losers in the Sensex-30 pack: ICICI Bank (down 2.9 per cent), Axis Bank (down 2.3 per cent), Sun Pharma (down 1.3 per cent), Power Grid (down 1.2 per cent) and NTPC (down 1 per cent).

Apart from the larger indices, midcaps indices gained nearly a percent, but the Bank Nifty witnessed weak movements as it fell 0.30 percent at 21,491.40.

Among other Asian markets, Hong Kong's Hang Seng was down 0.72% while Japan's Nikkei shed 0.09% in early trade.

Among BSE sectoral and industry indices, realty rose 2.14 per cent, consumer durables 1.23 per cent, IT 0.99 per cent, teck 0.96 per cent, industrials 0.85 per cent, auto 0.70 per cent, capital goods 0.69 per cent and FMCG 0.55 per cent. On the other hand, banking index was down 0.73 per cent, metal 0.18 per cent, and power 0.08 per cent.