ECONOMY ANALYSIS
Sensex snaps 8-day gains, falls 145 pts; Tata Motors tanks 6%
Debt MF relief: FM says no retro tax, new regime from Jul 11
PNB Q1 profit beats forecast, up 10% but asset quality weak
SKS Microfinance soars 8%, Q1 net profit rises 10 times
ICICI Bank to raise at least Rs 500cr in bonds for infra lending: Sources
LIC Housing Finance Q1 profit rises 3.8%, NIM declines
MARKET ANALYSIS
MUMBAI: Recording the first drop in nine sessions, the benchmark Sensex today
ended 145 points lower at 26,126.75 after selling pressure emerged in bluechips as
investors judged recent gains as excessive.
The Sensex, which had gained 1,265 points in eight days in which it hit record highs
in two straight days, climbed to hit yet another life-time high of 26,300.17 in early
trade.
However, the gains proved to be short-lived as FIIs and domestic funds took some
profit off the table in recent out-performers. The BSE index closed at 26,126.75,
down 145.10 points or 0.55 per cent. Yesterday, the 30-share bluechip benchmark
had ended at its all-time closing high of 26,271.85 and had also hit intra-day high of
26,292.66. The 50-scrip NSE Nifty today after hitting an intra-day record high of
7,840.95 in the opening trade, slipped below the 7,800-mark as selling pressure was
witnessed. It finally ended the session 40.15 points, or 0.51 per cent lower at
7,790.45. Yesterday, the gauge concluded at record 7,830.60. Wipro's scrip tumbled
about 4.5 per cent and InfosysBSE -0.77 % shed 0.89 per cent. Wipro's earnings
yesterday failed to beat expectations, analysts said.
Sensex snaps 8-day gains, falls 145 pts; Tata Motors tanks 6%
Debt MF relief: FM says no retro tax, new regime from Jul 11
PNB Q1 profit beats forecast, up 10% but asset quality weak
SKS Microfinance soars 8%, Q1 net profit rises 10 times
ICICI Bank to raise at least Rs 500cr in bonds for infra lending: Sources
LIC Housing Finance Q1 profit rises 3.8%, NIM declines
MARKET ANALYSIS
MUMBAI: Recording the first drop in nine sessions, the benchmark Sensex today
ended 145 points lower at 26,126.75 after selling pressure emerged in bluechips as
investors judged recent gains as excessive.
The Sensex, which had gained 1,265 points in eight days in which it hit record highs
in two straight days, climbed to hit yet another life-time high of 26,300.17 in early
trade.
However, the gains proved to be short-lived as FIIs and domestic funds took some
profit off the table in recent out-performers. The BSE index closed at 26,126.75,
down 145.10 points or 0.55 per cent. Yesterday, the 30-share bluechip benchmark
had ended at its all-time closing high of 26,271.85 and had also hit intra-day high of
26,292.66. The 50-scrip NSE Nifty today after hitting an intra-day record high of
7,840.95 in the opening trade, slipped below the 7,800-mark as selling pressure was
witnessed. It finally ended the session 40.15 points, or 0.51 per cent lower at
7,790.45. Yesterday, the gauge concluded at record 7,830.60. Wipro's scrip tumbled
about 4.5 per cent and InfosysBSE -0.77 % shed 0.89 per cent. Wipro's earnings
yesterday failed to beat expectations, analysts said.
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