ibusinesslines.com
ibusinesslines.com April 26, 2018


Sensex, Nifty trade lower, Infosys shares fall 3%

16 April 2018, 10:44 | Justin Tyler

The BSE Senex had gained 1,173.88 points in the previous seven sessions

The BSE Senex had gained 1,173.88 points in the previous seven sessions

Meanwhile, IMD predicted that monsoon will be 97 per cent of long period average, which is normal for the season. The Sensex ended 112.78 points, or 0.33 per cent, higher to settle at 34,305.43 while the Nifty-50 rose 47.75 points, or 0.46 per cent to close at 10,528.35.

Market breadth was negative with 628 advances against 849 declines.

The market shed initial jitters over air strikes against Syria over the weekend and closed with gains. Midcaps have fared better than benchmark indices, hinting at revival in risk appetite. IMD's monsoon forecast will further boost overall market sentiment.

Among individual stocks, Tata Motors and Infosys contributed most to the losses.

On the other hand, stocks of Tata Motors suffered the most by crashing 4.96 per cent after Jaguar Land Rover said it is planning to cut jobs to scale back production at some of its United Kingdom sites. JLR has scaled back production at some of its United Kingdom sites amid what it termed as "headwinds" impacting the automotive industry. It was the top loser in the Nifty50 pack of stocks. The stock settled at Rs 340, down 4.67 per cent on the BSE.


Other major losers in the Nifty50 pack were Tata Motors, Wipro, Axis Bank, ONGC, NTPC, RIL, Dr Reddy's SBI, Bharti Airtel, ICICI Bank, Maruti Suzuki, Asian Paint and Tata Steel, falling by up to 1.54 per cent. Cement stocks such as ACC and Ambuja Cements also incurred smart gains.

The benchmark BSE Sensex fell almost 300 points as it went below 34000-mark in early trade amid weak Asian Cues after a US-led strike on Syrian targets fuelled fresh geopolitical concerns.

Key indices on Monday opened lower tracking mixed Asian cues. U.S. stock futures were pointing to a higher opening on Wall Street.

Rising for the 8th straight session the Sensex zoomed over 100 points at while the Nifty reclaimed 10,500 level on Monday as the wholesale price-indexed (WPI) inflation softened in March. Both these indices outperformed the Sensex.



Other News

Trending Now

ZTE banned from using US-based hardware or software in its products
The U.S. action against ZTE is likely to further exacerbate current tensions between Washington and Beijing over trade. As part of the original settlement with the US, ZTE agreed to a seven year suspended denial of privileges sentence.

Russia fails in UN bid to condemn strikes
Our warnings have been left unheard". "Insulting the President of Russian Federation is unacceptable and inadmissible", he added.

Tesla, Inc. (TSLA) stock recent close stands at $300.34
The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink . The stock stands almost $86.11 off versus the 52-week high of $389.61 and $58.91 above the 52-week low of $244.59.

Broncos to release CJ Anderson
The veteran running back broke the 1,000 rushing yard mark for the first time against the Kansas City Chiefs in December. Anderson's release leaves Devontae Booker and De'Angelo Henderson as the only running backs on the roster.

Samsung's latest smartphone can't connect to the internet
What's more, the 8MP front looking selfie snapper found on the Galaxy S9 + could very well be a piece of the Galaxy Note 9 too. Reports suggest that the Galaxy Note 9 will include a giant 4,000 mAh battery under its glass and metal design.

Crystal Palace hold on to defeat Brighton & Hove Albion
Hodgson deserves credit for helping lift Palace out of the bottom three after the team lost their opening seven league matches. Because the two players up front caused the Bournemouth defence all sorts of problems, ' said the ex-England boss.

Kansas City Royals vs. Los Angeles Angels
CINCINNATI - Jose Martinez drove in six runs and Yadier Molina homered in his return from a one-game suspension, powering St. According to oddsmakers at YouWager , the Angels are favored on the road, as they are getting odds of -145 to prevail.