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Nifty ends below 10,450 after hitting record high, snaps four-day rally

All that happened in Wednesday's trade

SI Reporter  |  New Delhi 

The benchmark indices ended lower after hitting fresh highs at open on Wednesday as Asian shares fell taking their cues from Wall Street with investor enthusiasm toward US tax changes ebbing as the long-awaited reform bill wound its way through Congress, while higher US Treasury yields underpinned the dollar. Prime Minister Narendra Modi’s electoral victories in key states continued to lend support to the markets, but focus has now shifted to Budget and macros.  Meanwhile, some caution set in ahead of the release of the minutes from the Reserve Bank of ...

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Nifty ends below 10,450 after hitting record high, snaps four-day rally

Vinod Nair, Head of Research, Geojit Financial Services    Market moved in a tepid manner after recording the all time high, investors turned jittery ahead of RBI minutes. Market is gradually pricing the positive aura raised from the political front, going forward valuation and transition of reforms into earnings will be the key catalyst to fuel the market sentiment.

Nifty ends below 10,450 after hitting record high, snaps four-day rally

RCom surges 45% after NCLT adjourns hearing of insolvency petition   Reliance Communications (RCom) rose as much as 45% in intra-day trade today after the National Company Law Tribunal (NCLT) adjourned the hearing of insolvency petitions filed against Reliance Communicationsto early next month after a group of the telecom operator's lenders sought time to consider converting the company's loans into equity. READ FULL REPORT

Nifty ends below 10,450 after hitting record high, snaps four-day rally

Market breadth positive   The breadth, indicating the overall health of the market, remained strong. On the BSE, 1,590 shares rose and 1,120 shares fell. A total of 177 shares were unchanged.  

Nifty ends below 10,450 after hitting record high, snaps four-day rally

Sectoral trend at close Source: NSE

Nifty ends below 10,450 after hitting record high, snaps four-day rally

Markets at close Index Current Pt. Change % Change   S&P BSE SENSEX 33,777.38 -59.36 -0.18   S&P BSE SENSEX 50 10,894.53 -16.55 -0.15   S&P BSE SENSEX Next 50 36,305.68 +34.50 +0.10   S&P BSE 100 10,931.34 -12.15 -0.11   S&P BSE Bharat 22 Index 3,762.81 +12.73 +0.34 Source: BSE

Nifty ends below 10,450 after hitting record high, snaps four-day rally

Top five Nifty losers in last leg of trade  Source: NSE

Nifty ends below 10,450 after hitting record high, snaps four-day rally

Markets check Index Current Pt. Change % Change   S&P BSE SENSEX 33,788.70 -48.04 -0.14   S&P BSE SENSEX 50 10,899.83 -11.25 -0.10   S&P BSE SENSEX Next 50 36,310.31 +39.13 +0.11   S&P BSE 100 10,935.96 -7.53 -0.07   S&P BSE Bharat 22 Index 3,765.04 +14.96 +0.40 Source: BSE

Nifty ends below 10,450 after hitting record high, snaps four-day rally

Buzzing stock   Shares of Religare Enterprises hit its upper circuit of 5% at Rs 73.15, while those of Edelweiss Financial Services rose 2.54% to Rs 298.65 in intra-day trade after Edelweiss Financial Services on Wednesday said its wealth management arm will acquire Religare's securities business for an undisclosed sum.   "Edelweiss and Religare today announced the acquisition by Edelweiss Wealth Management of Religare's securities business, which includes securities and commodities broking, and depository participant services," the company said in a regulatory filing. READ MORE

Nifty ends below 10,450 after hitting record high, snaps four-day rally

6 stocks that are trading 2,000 times above their face value   MRF - the most expensive stock in terms of share price in India - is currently trading nearly 6,915 times its face value of Rs 10 per share at Rs 48,781 levels at the bourses.   Besides MRF, five stocks – Eicher Motors, Tata Consultancy Services (TCS), Page Industries, Britannia Industries and Honeywell Automation - are trading at over 2,000 times their respective face values. CLICK HERE FOR DETAILS

Nifty ends below 10,450 after hitting record high, snaps four-day rally

Sensex heatmap in afternoon trade  Source: BSE

Nifty ends below 10,450 after hitting record high, snaps four-day rally

Archies zooms 57% in two weeks    Archies is locked in upper circuit of 10% at Rs 50.25, also its 52-week high on the BSE, extending its over 40% surge of the past nine days after promoter Anil Moolchandani hiked stakes in the company through open market.   “Anil Moolchandani, Chairman and Managing Director of the Archies purchased 20,000 shares of the company on 08/12/2017 at the consideration value of Rs 6.87 lakh and further purchased 20,000 shares of the company on 11/12/2017 at the consideration value of Rs 6.70 lakh from the open market,” Archies said in a regulatory filing on December 12, 2017. READ MORE

First Published: Wed, December 20 2017. 15:33 IST
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Nifty ends below 10,450 after hitting record high, snaps four-day rally

All that happened in Wednesday's trade

The benchmark indices ended lower after hitting fresh highs at open on Wednesday as Asian shares fell taking their cues from Wall Street with investor enthusiasm toward US tax changes ebbing as the long-awaited reform bill wound its way through Congress, while higher US Treasury yields underpinned the dollar. Prime Minister Narendra Modi’s electoral victories in key states continued to lend support to the markets, but focus has now shifted to Budget and macros.  Meanwhile, some caution set in ahead of the release of the minutes from the Reserve Bank of ...

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