Market Closing Podcast for May 4, 2018

Moneycontrol News

Benchmark indices closed lower for the second consecutive session on Friday after hitting a three-month high, weighed by Asian cues. ITC, Reliance Industries, Infosys and select banking & financials stocks pulled the market lower.

The 30-share BSE Sensex was down 187.76 points at 34,915.38 and the 50-share NSE Nifty fell 61.40 points to 10,618.30. For the week, the Sensex lost 0.2 percent and Nifty shed 0.7 percent.

All sectoral indices ended in the red barring Nifty Bank. Nifty Auto, FMCG, Metal and Pharma were prominent losers among sectoral indices, falling more than 1 percent.

HDFC Bank with a gain of 1 percent and ICICI Bank (up 0.3 percent) helped the Nifty Bank close in the green.

The broader markets outperformed frontliners, with the BSE Midcap index falling 35 points and BSE Smallcap declining 25 points.

The market breadth was in favour of declines. About three shares declined for every two shares rising on the BSE.

ITC (down 2.75 percent), Axis Bank (2.46 percent), Yes Bank (2.5 percent), Eicher Motors (2.2 percent), Sun Pharma (3.4 percent) and Bajaj Auto (2.91 percent) were biggest losers among Nifty50 stocks while Adani Ports (up 2.8 percent), Tech Mahindra (1.5 percent) and GAIL (2 percent) were prominent gainers.

In after market hours news, capital market regulator SEBI has allowed exchanges to extend trading hours in derivatives segment between 9 AM-11:55 PM, with effect from October 1, 2018.