Watch Our Live Call Update: Sensex falls 100 pts, Power stocks trade mixed; Reliance Power surges 7%

Thursday 17 May 2018

Sensex falls 100 pts, Power stocks trade mixed; Reliance Power surges 7%

Sensex falls 100 pts, Power stocks trade mixed; Reliance Power surges 7% 


The market consolidates, trading mildly higher as all sectoral indices are in the green barring metals.
The Nifty50 is hovering around 10,750 levels while the Nifty Midcap index is up fourth of a percent.
The market breadth remains strong as about two shares gained for every share falling on the BSE.
he market erased opening gains to trade mildly lower, dragged by HDFC, Reliance Industries, Infosys and metals stocks. The Nifty50 is trading below 10,750 levels.
Hindalco, Cipla, Tata Steel, BPCL are top losers among Nifty50, down up to 4 percent while Titan Company and Bharti Infratel gained more than a percent.
Shares of Reliance PowerNSE 8.71 % (up 6.75 per cent), Reliance Infrastructure (up 3.54 per cent), Adani Transmission (up 2.97 per cent) and Torrent Power (up 2.88 per cent) were the top gainers among the power stocks. 
Benchmark BSE Sensex was 109 points down at 35,278, while the NSE Nifty50 index was down 29 points at 10,712. 
In the Sensex index, 11 stocks were trading up, while 20 stocks were down. 
Tata Motors, with a gain of over 2 per cent, was leading the pack of Sensex gainers. 
Tata Steel saw profit booking after opening higher as it reported a consolidated net profit of Rs 14,688 crore for the March quarter, as against a loss of Rs 1,168 crore in the same quarter last year, benefiting from a one-time gain of Rs 11,376.14 crore from the restructuring of its UK business' pension scheme.
The Indian rupee extended opening gains, trading 18 paise higher at 67.61 against the US dollar.
The 30-share BSE Sensex is off its opening high, rising 51.85 points to 35,439.73 while the 50-share NSE Nifty gained 18.70 points at 10,759.80.
The market breadth was positive as about two shares gained for every share falling on the BSE.


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