Both the benchmark indices, Sensex and Nifty continued its flat note closing habit after giving good range for trading in upward momentum. Markets witnessed a quite volatile session today, ahead of the F&O expiry this week on Thursday but surrendered its gains in last 2 hours of the day on the back of bad Q1 results of heavyweights. Nifty closed above the previous close by 2.60 points at 6031.80 and Sensex also end the day at 20159.12, up by 9.27 points.
Market heavyweight Larsen & Toubro (L&T) plunged 7.5% after its net profit fell higher-than-expected 12.5% year-on-year to Rs. 756 crore while analysts had expected it at Rs. 991 crore. Reliance Industries shares lost 1.6% post its earnings though CLSA maintained an outperform rating on the stock with a target price of Rs. 1,000 while JP Morgan retained its neutral rating and said near-term earnings will stay muted. However, banking sector rebound on value-buying and firm trend in global markets.
Sectoral indices today presented mixed bags as CNX Finance was the biggest gainer by 1.45% and followed by CNX Service (1.12%), CNX PSU Bank (1.09%), CNX Auto (1.06%) and Bank Nifty (1.03%). While CNX Infra (-2.44%) was the most losing index joined by CNX PSE (-1.42%), CNX Energy (-1.37%), CNX Commodity (-0.97%) and CNX Realty (-0.62%).
Market breadth was negative to neutral on the NSE as 503 stocks advances against 677 declined and 54 unchanged.
Out of 50 stocks of Nifty index, 24 registered growth while 26 declined.
Top Five Nifty Gainers: HDFC led the Nifty Gainers chart and excelled by 3.42% followed by IndusInd Bank (2.84%), Sun Pharma (2.72%), M&M (2.59%) and Bank of Baroda (2.57%).
Top Five Nifty Losers: Larsen & Toubro disappointed with result and lost -7.6% and accompanied by BHEL (-6.97%), Ambuja Cement (-4.49%), ONGC (-3.31%) and Tata Steel (-3.24%).
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