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Sensex ends flat, Nifty settles below 10,100; Wipro top loser, down 4%

All that happened in Thursday's trade

SI Reporter  |  New Delhi 

The benchmark indices pared morning gains to end flat with the Nifty settling below 10,100 on Thursday after data showed that the wholesale price index (WPI)-based inflation rose to 3.24% from a year ago, its fastest pace in four months, driven by higher prices of food and fuel products,   Overseas, Asian stocks ended mixed, consolidating after touching their highest in a decade, while the European markets inched lower. Investors now await the US consumer price index (CPI) due later in the session and its potential impact on the Federal Reserve’s stance ...

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Sensex ends flat, Nifty settles below 10,100; Wipro top loser, down 4%

Anand James, Chief Market Strategist, Geojit Financial Services    Unsteady movements in the oil marketing company stocks, with uncertainties prevailing over the fuel prices kept markets volatile early in the day, but strength in midcaps kept market sentiments buoyant. The late surge in PSUs is suggestive that investors are expectant of the speeding process of NPA resolution and anticipating news on the consolidation of PSU banks, sooner than later.

Sensex ends flat, Nifty settles below 10,100; Wipro top loser, down 4%

Sectoral trend  Source: NSE

Sensex ends flat, Nifty settles below 10,100; Wipro top loser, down 4%

Nikhil Kamath, Co-Founder and Head of Trading, Zerodha   The indices continued to scale up, now within touching distance of the all time highs yet again. An overall bull trend has been firmly established and is definitely in play, in the short term there could be fluctuations based on the inherent froth that has crept into the system. Everybody seems to be calling for higher levels and the overall sentiment is definitely bullish. In the near term we expect some volatility taking the markets lower by 3-5%, post which the bull trend could resume again.

Sensex ends flat, Nifty settles below 10,100; Wipro top loser, down 4%

Sensex heatmap at close  Source: BSE

Sensex ends flat, Nifty settles below 10,100; Wipro top loser, down 4%

Market breadth  The breadth, indicating the overall health of the market, remained neutral. On BSE, 1,311 shares rose and 1,304 shares declined. A total of 152 shares were unchanged. 

Sensex ends flat, Nifty settles below 10,100; Wipro top loser, down 4%

Broader markets outperform  Broader markets outperformed with the BSE Midcap and the BSE Smallcap indices adding 0.6% each. 

Sensex ends flat, Nifty settles below 10,100; Wipro top loser, down 4%

Markets at close The Sensex ended at 32,241, up 55 points, while the broader Nifty50 closed at 10,086, up 7 points.

Sensex ends flat, Nifty settles below 10,100; Wipro top loser, down 4%

Centrum on Orient Refractories    We maintain Buy on Orient Refractories (ORL), with an unchanged target price of Rs 170 as the growth story remains on track with i) steady revenue growth led by improving domestic demand, and ii) strong traction in exports sales with approval of increased transaction limits with parent, RHI. Q1 performance was a mixed bag with revenue growth above expectations but provisioning for steel accounts keeping EBITDA/PAT supressed.    We remain structurally positive on ORL and believe that the tremendous scope for brownfield expansion, as well as low capital and operational costs, MNC parentage and strong return ratios make it a compelling long term bet.

Sensex ends flat, Nifty settles below 10,100; Wipro top loser, down 4%

Oil prices Oil prices steadied, holding on to most of their recent gains after forecasts for stronger oil demand by the International Energy Agency (IEA).   Benchmark Brent crude was down 10 cents at $55.06 a barrel after rising 89 cents or 1.6% on Wednesday. US light crude was unchanged at $49.30 after gaining 2.2% in the previous session.

Sensex ends flat, Nifty settles below 10,100; Wipro top loser, down 4%

European markets   European stock markets inched lower on Thursday, weighed down by weaker miners, while shares in German reinsurer Munich shrugged off a profit warning.   The pan-European STOXX 600 index was down 0.2% with the basic resources sector taking most points off as investors digested a decline in industrial metals and disappointing data from top consumer China.   Among other regional benchmarks, Britain's FTSE fell 0.1% ahead of the results of Bank of England policy meeting later in the day, while Germany's DAX was down 0.3%.

Sensex ends flat, Nifty settles below 10,100; Wipro top loser, down 4%

Volatility index   India VIX declined for the sixth straight session. Source: NSE

First Published: Thu, September 14 2017. 15:48 IST
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Sensex ends flat, Nifty settles below 10,100; Wipro top loser, down 4%

All that happened in Thursday's trade

The benchmark indices pared morning gains to end flat with the Nifty settling below 10,100 on Thursday after data showed that the wholesale price index (WPI)-based inflation rose to 3.24% from a year ago, its fastest pace in four months, driven by higher prices of food and fuel products,   Overseas, Asian stocks ended mixed, consolidating after touching their highest in a decade, while the European markets inched lower. Investors now await the US consumer price index (CPI) due later in the session and its potential impact on the Federal Reserve’s stance ...

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