TOP STORY- Stock Market For Thursday, 28 September 2017
Sterlite Tech Launches 5G Ready Smarter Network Technology at IMC 2017
GE Power India Gets Contract Worth `328 Cr From Doosan Power Systems
Ashiana Housing entered into MOU for Development of Group Housing Project in Pune
Powegrid commissioning of ‘WR-NR HVDC Interconnector for IPP projects in Chhattisgarh’
LVB board approves raising of fund va right issue for an amount upto 800cr
United Tech sells its minority stake in Cyient
IDBI Bank sells 9 percent stake in SIDBI
Apl Apollo Tubes entered into a JV with Singapore-based One to One Holdings PTE, for
manufacturing of in-line galvanized tubes
Mandala Rose Co-investment acquired 3.62 crore shares (7.26 percent) in Jain Irrigation
Deep Industries got an order worth Rs 2.2 crore from ONGC
Govt plans to sell stake in ONGC oilfields to private firmsAir India ties up with PNB & IndusInd for
Rs3250 cr of loan
MARKET COMMENTARY for Thursday, 28 September 2017
Nifty ended at 9,735 level, down by 135 points, while Sensex closed at 31,159 level, down by 439 points on Wednesday. Sensex ended at the lowest level since June 30. There were 275 advances, 1,379 declines and 308 unchanged stocks on NSE. India VIX ended higher by 6.3% at 13.74 level.
In the broader markets, BSE Mid-cap index closed at 15,191 level, down by 308 points, while BSE Small-cap index closed at 15,797 level, down by 338 points. Bank Nifty ended at 23,812 level, down by 386 points or 1.6%.
All the sectoral indices on NSE closed in the negative territory. Nifty PSU Bank index was the top losing index ending at 3,026.8 level, down by 3.06%. Nifty Pharma ended lower by 2.81% at 9,036.45 level. Among other sectoral indices, Bank Nifty, Nifty Auto, Nifty FMCG, Nifty Metal, Nifty Pvt Bank and Nifty PSU Bank also ended lower by more than 1%.
Major indices registered their biggest intraday fall of the year on Wednesday after the Indian army confirmed that it conducted a surgical strike along the Indo-Myanmar border. The army reported that there were no casualties among the Indian Army soldiers.
Nifty likely to trade in the range of 9701-10094.
Market Pulse on Thursday, 28 September 2017.