Most domestic players are said to have missed out on the rally as they remain worried about the weak macro-environment. Industrial output remains sluggish, RBI’s interest rate cuts have not yet translated into lower rates for borrowers, and India’s.
Key equity benchmarks were trading flat on the final trading day of this week. ABB was star performer of the day as stock surged more than 20 percent. The volumes also shot up by more than 30 times compared to the average volume.
It was another day of consolidation for the key equity benchmark indices BSE Sensex and NSE Nifty. Midcaps continued to outperform while traders preferred to book profits in pharma and banking heavyweight stocks. ITC Q4 results are out. The results are.
Indian shares took a breather and consolidated in the late morning trade on Friday. BSE Sensex was holding 20200 mark while Nifty managed to edge above 6150 led by buying in realty, power and IT stocks. COMPAT levies 10 percent penalty of Rs 6300 crore.
BSE Sensex opened flat on the final trading day of this week. JM Financial surged close to 7 percent in the opening bell after the former chief executive officer of Citigroup Inc Vikram Pandit and Hari Aiyar announced to buy 1.5 percent stake in JM Fin.
BSE Sensex closed slightly up at 20247.33, up 34 points. Hopes of commodity prices maintaining their downtrend, interest rates easing and continued global liquidity flows are the key sentiment drivers at this point.