Thursday 18 May 2017

Sensex closes down 224 pts, Nifty sheds over 1%, IT rally arrests the slide

Equity Market Update, BSE, NSE, Share Trading Tips, Market Closing Update
The benchmark BSE Sensex fell from it record highs today tracking Asian peers and weak global stocks. The BSE Sensex, lost 223.98 points or 0.73% at 30,434.79, while the Nifty50 index was down 96.30 points or 1.01% at 9,429.45, as per closing data.
The broad market showed weakness. There were almost 3 losers against every gainer on BSE. 2,043 shares declined, 702 shares advanced and a total of 165 shares were unchanged.
Realty sector stocks declined sharply, led by index heavyweights ITC, RIL and L&T. Index heavyweight Reliance Industries dropped 1.87 percent to Rs 1,327.00. The stock hit a high and low of Rs 1,352 and Rs 1,323.30 respectively.
Shares of Bajaj Auto lost 2.54 % after its net profit dipped 13.44% to Rs 862.25 Cr, on 8.7 percent decline in total revenue from operations to Rs 5,212.83 Cr, in Q4 March 2017 year on year.
Apollo Hospitals shares fell about 2.66%. United Breweries Ltd, Kingfisher Breweries, dropped 4.8% after announcing an 87% fall in profit for the March-quarter. European and Asian stocks edged lower as concerns over the fallout from chaos in Washington prompted investors to unload risky assets such as equities.


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