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Sensex ends marginally lower, Nifty holds above 10,400; Nifty Pharma up 3%

All that happened in today's trade

SI Reporter  |  New Delhi 

Vinod Nair, Head of Research, Geojit Financial Services    Market went through some profit-booking after touching the all time high. But the gradual change in FII inflows from negative to positive led by domestic cues will keep the India growth story intact. Pharma stocks emerged as a dark horse due to attractive valuations and expectation of faster USFDA approvals for plants. On the global front, Fed kept the rate on hold as expected, while rising optimism on economic development is adding more weights to a hike in the month of December which has largely been factored in the domestic market. Market wrap-up by Nikhil Kamath, Co-Founder and Head of Trading, Zerodha   Markets closed the session flat for the day; pharma stocks were the best performers for the session, Divi's Labs was the best performer, notching up gains of 17% for the session. Sun Pharma, Lupin, and Aurobindo Pharma were the best performers at the index level. Markets corrected slightly at the opening and then continued to trade rangebound in a very small range throughout the session.    Domestic institutions continue to remain flush with liquidity whereas FIIs continue selling. Overall, we are yet to see the level of bullishness and complacency which could signal the end of the inherent bull trend. This rally could have further legs in the short term; we would still not advocate taking fresh longs at this juncture. Sensex heatmap at close Source: BSE Market breadth  The market breadth, indicating the overall health of the market, turned negative from positive. On BSE, 1,420 shares fell and 1,337 shares rose. A total of 142 shares were unchanged. Broader markets underperform  The BSE Midcap and the BSE Smallcap indices settled 0.4% lower each.  Markets at close The S&P BSE Sensex ended at 33,573, down 27 points, while the broader Nifty50 was ruling at 10,423, down 16 points. 

The Benchmark indices settled flat on Thursday after hitting new highs in Wednesday's trade as some company results including from Tech Mahindra, and JSW Energy disappointed investors, but gains in pharmaceutical shares lent some support. The markets had hit record highs in the previous session, on continued optimism after the government’s recent decision to inject more funds into state-run lenders. Overseas, European stocks were trading flat as investors waited for the latest rate decision from the Bank of England (BOE). Asian shares advanced after ...

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First Published: Thu, November 02 2017. 15:34 IST
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Sensex ends marginally lower, Nifty holds above 10,400; Nifty Pharma up 3%

All that happened in today's trade

The Benchmark indices settled flat on Thursday after hitting new highs in Wednesday's trade as some company results including from Tech Mahindra, and JSW Energy disappointed investors, but gains in pharmaceutical shares lent some support. The markets had hit record highs in the previous session, on continued optimism after the government’s recent decision to inject more funds into state-run lenders. Overseas, European stocks were trading flat as investors waited for the latest rate decision from the Bank of England (BOE). Asian shares advanced after ...

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