1. Sensex, Nifty, end lower without cues; Reliance, Aurobindo Pharma top gainers

Sensex, Nifty, end lower without cues; Reliance, Aurobindo Pharma top gainers

Indian benchmark indices ended today’s trade on a negative note with the BSE Sensex shed 80.18 points or 0.26% to end the session at 31,075.73 points, while NSE Nifty, the broader gauge, lost 40.10 points or 0.42% to close at 9,578.05 points.

By: | Updated: June 15, 2017 7:02 PM
BSE Sensex shed 80.18 points or 0.26% to end the session at 31,075.73 points, while NSE Nifty, the broader gauge, lost 40.10 points or 0.42% to close at 9,578.05 points. (Image: PTI)

Indian benchmark indices ended today’s trade on a negative note as investors digested US Federal Reserve’s rate cut. BSE Sensex shed 80.18 points or 0.26% to end the session at 31,075.73 points, while NSE Nifty, the broader gauge, lost 40.10 points or 0.42% to close at 9,578.05 points.

BSE Mid-cap index slipped 17.64 points or 0.12% to end at 14781.77 points, while the BSE Small-cap index gained 57.21 points or 0.37 per cent to close at 15645.89 points. IT stocks close lower as BSE IT index falls by 1.06%, BSE Oil & Gas Index sheds 1.19%.

Pharma and Realty stocks were the biggest gainers today. Nifty Realty Index closed higher by 2.08%, while the Nifty Pharma Index rose 1.33%. The shares of India Bulls Real Estate gained over 6%, Delta Corp shares were up 3.56%, Housing Development Infrastructure Ltd (HDIL) shares soared 2.52%, while DLF shares rose 2.16%.

Among Nifty stocks, IOC was the top loser, down 3.24 per cent, followed by BPCL, which fell 3.24 per cent. Bharti Infratel, TCS, Hindalco were the other major losers in Nifty falling between 1.7-3 per cent.

Meanwhile, Aurobindo Pharma rose 6.94 percent to be the top gainer in Nifty. Reliance Industries, Wipro, Cipla, Dr Reddy’s Lab were the other prominent gainers in Nifty, up between 1-2 percent.The Federal Reserve raised interest rates by 25 basis points on Wednesday, the second such hike in three months, citing continued US economic growth and job market strength, and announced it would begin cutting its holdings of bonds and other securities this year. The US central bank also gave the first clear outline on its plan to reduce its $4.2 trillion

The Federal Reserve raised interest rates by 25 basis points on Wednesday, the second such hike in three months, citing continued US economic growth and job market strength, and announced it would begin cutting its holdings of bonds and other securities this year. The US central bank also gave the first clear outline on its plan to reduce its $4.2 trillion portfolio of Treasury bonds and mortgage-backed securities.

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Back home, teething troubles in the implementation of GST seem to be keeping investors on their guard. The 50-share NSE Nifty ended below 9,600 level for the first time in three weeks. V Srivatsa of UTI MF said that the market may consolidate while trying to digest the impact of GST in the short-term as it is underestimating the impact of GST on the near-term financials of most of the companies on the manufacturing side, while Jayant Manglik of Religare Securities said that with no major events around, global cues and a further update on monsoon will dictate the market trend ahead.

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