Market Cautious On Global Cues

Market Cautious On Global Cues

Share Market News 16 June

Stock market news-21 April 2017

The market witnessed last hour selling and ended on the negative side.
Sensex lost 57.09 points to 29365.3
Nifty lost 17 points to 9119.4

Top gainers

Reliance by 3.43% to 1416.5, Infratel by 2.38% to 350.58, Tech Mahindra by 1.95% to 428.7, Axis Bank by 1.45% to 495.1 and NTPC by 1.19% to 165.65.

Top losers

Sun Pharma by 1.93% to 643.3, Grasim by 1.24% to 1133.2, Power Grid by 1.22% to 206.35, Cipla by 1.19% to 567.2 and HDFC by 1.13% to 1499.9.

The market changed its morning gains to close somewhat lower on Friday as investors continued to be cautious due to mixed earnings, so far, and ahead of the French election, which is scheduled on Sunday. Market sentiment got negatively affected by the hawkish RBI tone in its latest minutes and also due to steady selling by FIIs in April, a disappointing follow-up to highest ever buying in March.

HDFC Bank, the country's second-largest private sector lender, has announced a stable set of quarterly earnings on Friday. The bank's profit grew by 18.2% Y-o-Y to Rs 3,990 crore in the quarter ended March 2017. The better-than-expected net interest income coupled with non-interest income and operating profit boosted earnings but a sharp increase in provisions curtailed growth.

Stocks to Watch:

Srikalahasti Pipes is on the upside while Cipla is on the downside.

 

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