INDIAN BENCHMARKS: Sensex, Nifty end flat; NSE Nifty gained 6.70 points at 8740.95
Bank of Baroda, Tech Mahindra, Cipla, BHEL, Bharti Infratel, SBI, Coal India and Dr Reddy's Labs surged 1.6-5 percent while Tata Motors, ICICI Bank, Tata Steel, Reliance Industries and HDFC were under pressure.
Sun TV Network (up 23 percent) and BSE (up 33 percent) were star performers.
Benchmark indices closed flat with a positive bias but broader markets continued to outperform for the second consecutive session. The 30-share BSE Sensex was up 13.91 points at 28240.52 and the 50-share NSE Nifty gained 6.70 points at 8740.95 while the BSE Midcap and Smallcap indices gained 0.6 percent and 1 percent, respectively. About 1635 shares advanced against 1173 declining shares on the BSE.
Bangalore-based Healthcare firm Strides Shasun has reported a massive 3-fold jump in third quarter consolidated profit at Rs 187.3 crore compared with Rs 58.9 crore in year-ago period, majorly driven by divestment income and partly by operational performance.
HEADLINES OF THE DAY
Chidambaram says FY18 GDP growth to be worse than projected.
Source says govt to reassess FY18 divest aim post income disclosures.
India IT cos to head to Washington this month over proposed visa clampdown.
BSE lists on National Stock Exchange today.
UPCOMING RESULT: DR.REDDY’S LAB, CENTRAL BANK, RUSHIL DÉCOR LIMITED, PUDUMLEE PULP AND PAPER,J.K CEMENT, DIVIS LABS, DWAIRKESH SUGAR, VCCL
The crucial resistance for Nifty spot is now seen at 8785 and above this 8825 Support for the immediate term is now placed at 8695 and next support will be 8625.