ALSO READSensex ends 141 pts higher, Nifty settles at 10,397 levels; IT stocks rise Nifty ends below 10,500, Sensex down nearly 300 pts; PSU bank index dips 2% Sensex ends up 295 pts, Nifty above 10,500; Realty, Pharma, Metals gain Sensex ends below 36000, Nifty marginally lower as LTCG tax proposed Sensex ends 330 pts higher, Nifty above 10,550; IT, pharma, realty gain
MARKET COMMENT: Jayant Manglik, President, Religare Broking Derivatives expiry turned out to be a non-event as Nifty ended flat after trading volatile in a narrow range. Mostly sectoral indices closed unchanged following benchmark index while correction continued on broader front. The way things have panned out, on both domestic and global front, in the passing weeks, we do not see any chance of overnight reversal. However, possibility of technical bounce can't be ruled out, citing oversold positions. Above all, sentiment is still bearish and traders can't do without short positions. We advise using rebound for fresh shorts while maintaining caution in stock selection. PSU banks and pharma look weak to us while IT and FMCG is showing tremendous resilience so plan accordingly PSU Banks slip further PSU banks continued to lose ground on Thursday. Indian Bank, Union Bank of India, Oriental Bank of Commerce (OBC) and Bank of Baroda slipped between 1.7% - 2.6%. PNB, however, was the top loser in this space that skidded around 2.8% Sectoral Trend Sensex top losers and gainers Market at close The S&P BSE Sensex ended at 33,819, down 25 points while the broader Nifty50 index settled at 10,383, down 15 points. News Watch Liberty House to approach NCLT on Bhushan Power bid rejection by creditors Sanjeev Gupta-led Liberty House will be approaching the National Company Law Tribunal (NCLT) in connection with its bid rejection by creditors to acquire debt-laden Bhusan Power & Steel. "We will go to the NCLT and ask them to direct RP (resolution professional) and CoC (Committee of Creditors) to open our bid," Liberty said in its statement on Thursday. READ MORE
The domestic indices ended largely flat on Thursday following the expiry of derivative contracts for February series.
The S&P BSE Sensex ended at 33,819, down 25 points while the broader Nifty50 index settled at 10,383, down 15 points.