Sensex, Nifty flat in early trade

Joanna Estrada
May 2, 2018

The NSE Nifty index ended marginally lower after volatile trading on Wednesday, while the BSE Sensex was almost flat, as IT stocks and public sector lenders weighed on sentiment but auto stocks rose, boosted by strong monthly sales.

Major laggards were Coal India, TCS, Infosys, ICICI Bank, HUL on Sensex today, falling up to 2 percent.

Among Sensex constituents, Kotak Bank remained in fine shape through the session on the back of encouraging earnings and emerged as the top gainer by rising 3.87 per cent to Rs 1,257.25, followed by ITC Ltd at 2.03 per cent at Rs 287.15.

Shares of HCL Technologies too slumped as much as 5 percent in early trade on the stocks after the IT firm posted 9.8 percent decline in consolidated net profit for the quarter ended March 2018. Another private sector bank, Axis Bank, rose 1.5 per cent. HDFC and HDFC Bank rose over 1 per cent.

PC Jeweller topped the value chart on the BSE with a turnover of Rs. 1,277.66 million. The stock is the top loser on the index.

Meanwhile, on a net basis, Foreign Portfolio Investors (FPIs) sold shares worth Rs 385.47 crore, while Domestic Institutional Investors (DIIs) bought shares worth Rs 261.98 crore on Monday, a provisional data showed.

Financial markets was shut yesterday on account of "Maharashtra Day".

On NSE, shares of the company went up by 3.77 per cent to close at Rs 1,256.85. The future for the Dow Jones industrial average was flat at 24,072.00 while the future for the S&P 500 edged 0.1 percent higher.

Hero MotoCorp too fell by 1.91 per cent as company's April sales data failed to cheer investors.

Japan's Nikkei 225 index slipped 0.2 percent to 22,472.78 and the Hang Seng in Hong Kong lost 0.3 percent to 30,723.88. Australia's S&P ASX 200 advanced 0.6 percent to 6,050.20.

Other reports by Click Lancashire

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