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Markets pare gains to end flat, Nifty settles below 10,100; OMCs weigh

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SI Reporter  |  Mumbai 

The benchmark indices pared morning gains in the last leg of the session, to end flat, dragged by losses in metal, realty, auto, FMCG and oil & gas sectors. The broader markets also underpeformed the frontline indices. Oil marketing companies (OMCs) such as BPCL, HPCL and IOC tanked up to 8% following news reports that the OMCs may be told to absorb increase in oil prices due to inflation risks.  Globally, Asian markets inched up to a 10-year high, cheered by record highs on Wall Street following Apple's new launches and as North Korea fears eased. Dismal ...

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Markets pare gains to end flat, Nifty settles below 10,100; OMCs weigh

Market rundown by Vinod Nair, Head of Research, Geojit Financial Services    Marginal uptick in IIP numbers and anticipation of improvement in WPI provided strength to the domestic market. But volatility emerged as market reached near the all time high, which pulled the index to close negative while FIIs continue to be a net seller.

Markets pare gains to end flat, Nifty settles below 10,100; OMCs weigh

FY19 to see harsher earnings cut; remain positive on markets: Credit Suisse   Despite a near 20 per cent rise in the markets in calendar year 2017 (CY17), Credit Suisse remains optimistic on the road ahead and sees no major downside, unless global cues disappoint.    In its 'India Market Strategy' report released Wednesday, the global research and brokerage house expects domestic flows to remain robust thanks to improvement in financial savings and support the market on every correction. READ MORE

Markets pare gains to end flat, Nifty settles below 10,100; OMCs weigh

Sectoral Trend Source: NSE

Markets pare gains to end flat, Nifty settles below 10,100; OMCs weigh

BSE Oil & Gas index declined 1.7%, becoming the biggest sectoral loser Source: BSE

Markets pare gains to end flat, Nifty settles below 10,100; OMCs weigh

Top Sensex gainers and losers Source: BSE

Markets pare gains to end flat, Nifty settles below 10,100; OMCs weigh

Broader Markets The broader markets underpeformed the frontline indices with BSE Midcap and BSE Smallcao index down 0.7% and 0.6% respectively

Markets pare gains to end flat, Nifty settles below 10,100; OMCs weigh

Markets at close Benchmark indices pared morning gains in the last leg of the session, to end flat, dragged by losses in metal, realty, auto, FMCG and oil & gas sectors.    The S&P BSE Sensex ended at 32,186, up 27 points while the broader Nifty50 index ended at 10,079, down 13 points

Markets pare gains to end flat, Nifty settles below 10,100; OMCs weigh

OMCs tank   Oil marketing companies (OMCs) such as BPCL, HPCL and IOC tanked up to 8% following news reports that the OMCs may be told to absorb increase in oil prices due to inflation risks.    Reacting to the development, BPCL and HPCL slipped 8% each to Rs 489 and 443, respectively. IOC also slipped over 5% to Rs 408 on the National Stock Exchange (NSE). READ MORE Photo: Shutterstock

Markets pare gains to end flat, Nifty settles below 10,100; OMCs weigh

IPO Subscription The initial public offer (IPO) of Matrimony.com, which runs online match-making portals, was oversubscribed 2.49 times so far on the last day of bidding on Wednesday.   The IPO, with an aim to raise over Rs 500 crore, received bids for 70,11,855 shares against the total issue size of 28,11,280 shares, data available with the NSE showed.   The issue was fully subscribed on the second day of the IPO. The company had on Friday raised nearly Rs 226 crore from anchor investors.

Markets pare gains to end flat, Nifty settles below 10,100; OMCs weigh

Broader Markets Broader markets also underperformed the benchmark indices with BSE Midcap and BSE Smallcap indices falling 0.6% and 0.5% respectively.

Markets pare gains to end flat, Nifty settles below 10,100; OMCs weigh

Market Check   Benchmark indices pared morning gains to turn flat after OMCs plunged post news reports that Oil Ministry will look into increasing oil prices and that the companies may be asked to absorb rise. At 2:57 pm, the S&P BSE Sensex was trading at 32,216, up 58 points while the broader NIfty50 index was trading at 10,091, down 1 point.

First Published: Wed, September 13 2017. 15:30 IST
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Markets pare gains to end flat, Nifty settles below 10,100; OMCs weigh

Catch all that happened in the market here

The benchmark indices pared morning gains in the last leg of the session, to end flat, dragged by losses in metal, realty, auto, FMCG and oil & gas sectors. The broader markets also underpeformed the frontline indices. Oil marketing companies (OMCs) such as BPCL, HPCL and IOC tanked up to 8% following news reports that the OMCs may be told to absorb increase in oil prices due to inflation risks.  Globally, Asian markets inched up to a 10-year high, cheered by record highs on Wall Street following Apple's new launches and as North Korea fears eased. Dismal ...

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