INDIAN EQUITY MARKET OUTLOOK - 16 Mar 2018
Sensex falls over 100 pts, Nifty below 10,350; Coal India sinks 6%
Benchmark indices started off last day of the week on a negative note amid sluggish global cues and trade war concerns.
The 30-share BSE Sensex was down 123.61 points at 33,561.93 and the 50-share NSE Nifty fell 33.10 points to 10,327.10.
Nifty Midcap was up 23 points. Jaiprakash Associates rallied 15 percent.
Religare Enterprises lost 4 percent after Edelweiss called off deal with the company.
Gravita India, Dilip Buildcon, Graphite India and ITDC gained up to 7 percent while Central Bank of India, IDBI Bank, SBI and PNB were mildly lower.
Asian markets were mostly lower on the last day of the trading week amid a backdrop of global trade-related developments and news out of Washington.
Infosys informed exchanges that a meeting of the board of directors will be held on April 12 & 13, 2018 to consider the audited consolidated financial statements of the company and its subsidiaries as per Indian Accounting Standards (INDAS) for the quarter and year ending March 31, 2018.
Shares of Jaiprakash Associates zoomed 15 percent as RARE Enterprises has bought 3 crore shares of the company.
The investor first bought shares of Jaiprakash Associates in the year 2017. The shareholding pattern for the quarter ended June 2017 showed that he picked up 2.5 crore shares, amounting to 1.03 percent stake in the company. However, he later pared the stake below 1 percent.
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