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Wednesday, May 18, 2016

Equity Tips
Sensex, Nifty fall; Midcap outperforms, Parag Milk jumps 13%

Equity benchmarks continued to see selling pressure as assembly elections counting started showing results. BJP is likely to get majority in Assam while Congress is seen losing in all five states.

The 30-share BSE Sensex fell 103.70 points to 25600.91 and the 50-share NSE Nifty declined 31.45 points to 7838.70. The market breadth was marginally positive as about 889 shares advanced against 712 declining shares on Bombay Stock Exchange.

ITC, HDFC, HDFC Bank, Asian Paints, Axis Bank, ICICI Bank, SBI and TCS were down 0.3-1.6 percent while Tata Motors, Lupin and Tata Steel gained 1-2 percent.

Major Headlines of the day:
Glenmark gets USFDA nod for rufinamide
Castrol India promoter divests 7% stake viz 34.62 million shares
Indian Hotels puts Taj Boston on block to cut debt

Trend in FII flows:The FIIs were net  sellers of  Rs -250.70 Cr in the cash segment on Wednesday  while the DIIs were net buyers of  Rs 239.91 Cr, as per the provisional figures.

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