Sensex pares some losses to reclaim 34000; Nifty above 10400

Mindy Sparks
April 16, 2018

Although, investors appeared slightly cautious amid mixed cues from global markets after a US-led strike on Syrian targets in response to alleged chemical weapons attacks, fuelling fresh geopolitical tensions.

The Sensex touched a high of 34,341.46 points and a low of 33,899.34 points during the intra-day trade. The index in fact ended up closing with a gain of 112.78 points at 34,305.43.

The 50-share NSE Nifty too moved in a wide range and finally closed 47.75 points, or 0.46 per cent, higher at 10,528.35.

IT heavyweight Infosys fell over 3 per cent on lower-than-expected margin guidance for fiscal year 2018-19.

Tata Motors which closed 4.96% lower at 339 level was the top Sensex loser on reports that Britain's biggest carmaker Jaguar Land Rover will cut around 1,000 jobs and production at two of its English factories due to fall in sales caused by uncertainty around Brexit and confusion over diesel policy.

Top gainers included Cipla, Grasim UPL, Hero Motocorp, Ktak Mahindra, Adani Ports, M&M, Bajaj Auto and Lupin while Tata Motors, Tata Motors (D), Infosys, Wipro, ONGC, Idea Cellular and SBI were some of the stocks that declined.

Meanwhile, on a net basis, foreign institutional investors (FIIs) sold shares worth Rs 399.59 crore on Friday, provisional data showed.

Among other Asian markets, Hong Kong's Hang Seng shed 1.44%, while Shanghai Composite Index was down 1.05% in early trade. Japan's Nikkei, however, was up 0.26%.

The rupee fell 20 paise against the United States dollar in early trade on global trade war concerns, dip in March exports and a sharp drop in domestic equities.

Other reports by Iphone Fresh

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