Sensex, Nifty Seen Lower On Global Cues
- Author: Zachary Reyes May 18, 2017,
May 18, 2017, 7:02
Both the indices had hit record highs in yesterday's trade as well.
On similar lines, the broader NSE Nifty surged to a fresh intra-day peak of 9,532.60, before ending at 9,525.75, up 13.50 points, or 0.14 per cent.
The S&P BSE Mid-Cap index was off 0.02 per cent while the Small-Cap index slipped 0.18 per cent. The 50-share benchmark of the National Stock Exchange (NSE) hit the mark for the first time on Tuesday, closing at 9,512.25, up 0.7%, as better-than-estimated corporate earnings growth in the March quarter and expectations of an early monsoon boosted investor confidence.
On the currency front, the rupee weakened by seven paise to 64.15-16 per USA dollar from its previous close of 64.08-09.
More mettle: Shares of Tata Steel surged almost 8 per cent on Wednesday after the company's consolidated net loss narrowed to Rs 1,168 crore for the quarter ended March 31, 2017.
Back home, Tata Steel soared nearly 8 per cent after the company reported narrowing of its net loss for the March quarter.
"Power sector stocks complemented the firmness of the equity markets".
Consumer durables lost 0.76 per cent, oil&gas 0.37 per cent, healthcare 0.30 per cent, energy 0.25 per cent and IT 0.22 per cent.
Major Sensex gainers on Wednesday were: Tata Steel, up 7.95 per cent at Rs 493.35; Tata Motors, up 2.82 per cent at Rs 449.65; ICICI Bank, up 2.35 per cent at Rs 309.80; Tata Consultancy Services (TCS), up 0.99 per cent at Rs 2,451.35, and Asian Paints, up 0.88 per cent at Rs 1,153.85.
The Nifty Metal index was clearly the outperformer as Tata Steel posted gains of over 8 percent post its quarterly results announced yesterday. The scrip settled at Rs 42, up 4.7 per cent on the BSE.