Market Cautious Ahead Of May’s Brexit Speech
Jan 17, 2017 | 18:03 PM IST
Jan 17, 2017 | 18:03 PM IST
Market Walk 17th January, 2016:
Market remained cautious ahead of Brexit speech by UK PM Theresa May.
Sensex lost 52.51 points to 27235.66
Nifty lost 14.8 points to 8398.0
NTPC gained 3.08% to 175.9
Among the top gainers were Asian Paint Ltd by 2.48% to 958.45, Hero Motocorp by 1.95% to 3152.0, Asix Bank by 1.75% to 485.6, Hindustan Unilever by 1.42% to 839.25.
Among the top losers were Reliance Industries lost 3.37% to 1040.0. Coal India by 2.06% to 307.35, Adani Ports by 1.91% to 294.9, ONGC by 1.59% to 195.2, Infratel by 1.28% to 351.0.
European markets were lower as investors waited to hear from the UK Prime Minister Theresa May on her Brexit plans. France's CAC, Germany's DAX and Britain's FTSE slipped 0.4-0.8 percent at the time of writing this article. Asia ended mixed with Japan's Nikkei down 1.5 percent. ITC shares gained 1.2 percent after the FMCG major has recently increased price of its key brand Gold Flake 69 mm cigarette to Rs 90 per pack of ten from Rs 78 per pack. However, Deutsche Bank thinks effective price hike for the consumer is 25 percent considering 70 percent of cigarettes sold in India are lose as retailers are now charging Rs 10 per stick for Gold Flake 69 mm. It believes price hike poses risk to short-term value growth trajectory for ITCs cigarettes.
Stocks to Watch: Lloyd Electric and Engineering Ltd is on up side while Idea Cellular is on down side.
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