Market opens on higher note despite weakness in Asian stocks

05 May, 2018, 02:01 | Author: Rolando Keller
  • Sensex today Kotak Bank jumps 3% HCL Tech slips 4% post Q4 index trades higher ahead of US Fed meet

The benchmark BSE Sensex ended down by 73.28 points or 0.21 percent at 35,103.14, while the broader Nifty index dropped 38.40 points or 0.36 percent to close at 10,679.65.

The market witnessed volatile trades ahead of the US Fed policy announcement scheduled later in the day. The Bankex was down 0.13 per cent but the Finance Index was up 0.01 per cent.

Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE closed in the red.

Sensex touched a high of 35206.55 and a low of 34847.61 in intra-day trading.

The BSE market breadth was bearish with 1,848 declines and 817 advances. "The weakness seemed to have come on the back of negative global cues", Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.

The index had gained 659.09 points in the previous three sessions on the back of widespread gains triggered by encouraging corporate earnings and strong auto sales data amid record GST collections.

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Market participants booked profits at higher levels in opening trade, they added.

On the NSE, the top gainers were Adani Ports, GAIL and Tech Mahindra.

Domestic institutional investors (DIIs) bought shares worth a net of Rs 261.98 crore, while foreign portfolio investors (FPIs) sold net shares worth Rs 385.47 crore on Monday, provisional data showed.

Overseas, Asian markets ended lower, with Japan's Nikkei falling 0.16 per cent, while China's Shanghai Composite shed 0.51 per cent. Hong Kong's Hang Seng fell 0.49 per cent. Australia's S&P ASX 200 advanced 0.6 percent to 6,050.20.

On the positive side, Axis Bank, NTPC, Tata Steel, Infratel and Sun Pharma climbed 2-4 percent.

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