MARKET COMMENT Mustafa Nadeem, CEO, Epic Research Nifty50 may continue to trade in the range of 10780 to 10600 for next couple of days. Any upside breakout of 10780 on a closing basis will give us further direction and higher levels of 10900. Traders and investors are suggested to have positions being hedged since the increase in volatility is expected ahead of the event Nifty IT index ends 0.55% higher. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) TCS 3489.30 3441.20 48.10 1.40 TATA ELXSI 1192.45 1179.10 13.35 1.13 ORACLE FIN.SERV. 4269.50 4225.20 44.30 1.05 HCL TECHNOLOGIES 927.50 920.10 7.40 0.80 INFOSYS 1170.70 1165.55 5.15 0.44 Sectoral Trend BSE Sensex: gainers and losers of the day Market at close The S&P BSE Sensex ended at 35,319, up 103 points while the broader Nifty50 index settled at 10,742, up 24 points. EID Parry hits 52-week low on disappointing Q4 results Shares of EID Parry hit 52-week low of Rs 251 per share, down 7% on the BSE, after the company reported a sharp 87% year-on-year (y-o-y) drop in consolidated net profit at Rs 405 million for the quarter ended March 2018 (Q4FY18), on account of poor performance by sugar and nutrient and allied business. It had profit a of Rs 3 billion in year ago quarter. READ MORE
The markets ended higher despite weakness in their Asian counterparts.
The S&P BSE Sensex gained 103 points to close at 35,319 levels, while the broader Nifty50 index settled at 10,742 levels, up 24 points.
The oil marketing companies were under pressure today following Donald Trump's sanctions on Iran and its likely impact on global crude oil prices. HPCL and BPCL lost 0.6 per cent and 1.7 per cent, respectively. IOC, however, ended the day flat.
Among sectoral indices, the Nifty IT index ended higher led by a rise in the shares of Tata Consultancy Services, Tata Elxsi and HCL Technologies.
Crude oil prices jumped back to near three-and-a-half-year highs on Wednesday after US President Donald Trump pulled his country out of an international nuclear deal with Iran, sparking worries about global oil supplies.
The Asian shares ticked lower as renewed US sanctions on Tehran were seen as disruptive for many companies that have deals with Iran. Trump’s move is also seen as risking worsening already-tense relations between Iran and US allies in the region.
MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.2 per cent while Japan’s Nikkei fell 0.4 per cent.