Sensex, Nifty End On Flat Note After Mixed Earnings

Javier Stokes
October 28, 2017

According to market observers, the exponential rise in scrip prices of state-run banks was witnessed a day after the government had announced a massive scheme to recapitalise the sector and to boost the overall infrastructure spend.

Market observers said that expectations of healthy quarterly results and buying support for the auto and banking stocks had lifted the key indices.

However, the broader NSE Nifty slipped from its lifetime high to close at 10,323.05, down 20.75 points, or 0.20 per cent.

The benchmark BSE Sensex ended 0.03 percent higher at 33,157.22, but still posted a record closing high.

Quess Corp, PNB Housing Finance, Ashok Buildcon and Sadbhav Engineering rose 1-6 percent while Jaypee Infra and Jaiprakash Associates were down 5-10 percent.

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"Major Asian markets have ended on a positive note, barring the Jakarta and Taiwan indices".

The Sensex had touched an intra-day low of 33,164.42 points-mark.

The 30-share Sensex surged 435.16 points, or 1.33 per cent - its biggest single session gain since May 25 when it had surged 448.39 points - to close at a new peak of 33,042.50.

In terms of investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) bought scrip worth Rs 3,582.50 crore, whereas domestic institutional investors (DIIs) sold stocks worth Rs 155.71 crore.

The gainers were Adani Ports by 4.55 pc to Rs 432.85, Tata Motors DVR by 2.65 pc to Rs 236.65, ONGC by 2.62 pc to Rs 181.95 and Kotak Bank by 2.35 pc to Rs 1042.70.

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