Nifty ends below 9430, ITC, SBI & CESC end in green, Hudco down 0.8%

India Infoline News Service | Mumbai | May 19, 2017 15:40 IST

Benchmark indices NSE Nifty closed at 9427 levels, lower by 1 points or 0.02%, whereas the BSE Sensex closed at 30,464 levels, higher by 30 points or 0.10%.

Benchmark indices NSE Nifty closed at 9427 levels, lower by 1 point or 0.02%, whereas the BSE Sensex closed at 30,464 levels, higher by 30 points or 0.10%.
 
While, BSE Mid-cap Index closed down 0.7% at 14644 whereas, BSE Small-cap Index closed down by 0.8% at 15227.
 
There were 572 advances, 1084 declines and 300 unchanged stocks on NSE, reflecting fairly bearish undertone floating in the market.
 
ITC was the top Nifty gainer whereas, Asian Paints was the top Nifty loser.
 
The FMCG sector stocks were in focus for the Friday’s trading session as the GST council approved the tax rates for various products on Thursday. The new tax rates are likely to boost the consumption of the FMCG products as the prices are speculated to come down.
 
The demand for the FMCG stocks increased sharply in the Friday’s trading session. Colgate Palmolive (India) Limited was the top gainer in the Nifty FMCG index and closed at Rs per share higher by %.
 
FMCG heavyweight, ITC Limited was the stock of the day which surged 6.4% on the NSE. The stock close at Rs 286.40 per share higher by Rs 8.50 or 3%.
 
The State Bank of India posted its Q4 nnumbers on Friday. The PAT stood at Rs 2814 Cr vs poll of Rs 2,832 Cr (YoY), NII stood at Rs 18,070 Cr vs poll of Rs 15,441 Cr, Gross NPA was at 6.9% vs 7.23% (QoQ) and the Provision coverage ratio at 65.95% vs 62.87%.
 
The stock hit its 2-year high of Rs 315.30 per share on the NSE and was responsible for pulling up the Nifty50 index from its day’s low of 9390.75. SBI closed at Rs 308.95 per share higher by Rs 6 or 1.9%.
 
CESC Limited successfully held its morning gains in the afternoon hours on Friday. The stock has touched its intraday high of Rs 889 per share up by 7.1% on Friday. It closed at Rs 876.05 per share higher by Rs 45.75 or 5.5%.
 
The much-awaited HUDCO listed on BSE at Rs 73.45 per share at a premium of 22.41%. The stock closed at Rs 71.85 per share lower by Rs 1.15 per share or 1.5%.

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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