Published: Fri, April 21, 2017
Markets | By Erika Turner

Nifty Breaks 5-Day Losing Streak; Yes Bank, ICICI Bank Fall

Nifty Breaks 5-Day Losing Streak; Yes Bank, ICICI Bank Fall

TCS, the country's largest software exporter, on Wednesday fell 0.30 per cent after the company's March quarter profit came in below expectations.

Outperforming the key indices, broader markets were in a better shape. "Banking stocks are now witnessing recovery from day's lows".

Sensex advanced nearly 64 points to 29,400.14 in early trade on sustained buying by domestic institutional investors amid firm Asian cues.

The benchmark BSE Sensex rose over 54 points, or 0.18%, at 29,373.55, with IT, power, technology, healthcare and FMCG stocks leading the recovery.in opening trade as after investors took to select stock-picking.

Foreign investors net sold shares worth Rs 930.67 crore while domestic institutional investors bought shares worth 878.08 crore on Tuesday, provisional data showed. Wipro too rose 0.36 per cent to Rs 500.

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Shares of private lender Yes Bank, however, plunged 6.50 per cent to Rs 1,501 after the asset quality of the bank slipped in the results declared yesterday.

In Europe, France's Paris CAC 40 was up 1.02 per cent, while Frankfurt's DAX 30 gained 0.23 per cent. The market finally ended in green after declining for five consecutive days.

In terms of the broader markets, the S&P BSE mid-cap index was up by 0.66 per cent, while the small-cap index closed higher by 1.14 per cent.

Among BSE sectoral indices, Realty index registered the biggest gain with a jump of 2.1 per cent. Consumer Durables (up 1.2 per cent), IT (up 1 per cent) and Auto (up 0.7 per cent) were other notable gainers. However, London's FTSE was down 0.09 per cent in early deals. Gainers included GAIL (3.90 per cent), IBull HSGF (2.12 per cent), Grasim (2.05 per cent), Reliance (1.98 per cent) and PowerGrid (1.15 per cent) A total of 864 shares declined, 842 advanced, while 90 ruled steady.

Major Sensex losers were: ICICI Bank, down 2.90 per cent at Rs 272.80; Axis Bank, down 2.26 per cent at Rs 487.95; Sun Pharma, down 1.28 per cent at Rs 655.85; Power Grid, down 1.21 per cent at Rs 208.60; and Coal India, down 0.78 per cent at Rs 280.35.

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