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Markets end marginally lower as investors focus on Q1 results; PSBs drag

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SI Reporter  |  New Delhi 

Indian shares ended flat on Thursday, as quarterly results remained the main driver in the market, at a time when strong gains have raised concerns about valuations. On the other hand, world shares extended a run of record highs on Thursday, as a cautious sounding Bank of Japan lifted Asian stocks to a near decade peak and Europe wagered on an incremental increase in confidence from the ECB at its latest meeting.

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Markets end marginally lower as investors focus on Q1 results; PSBs drag

Jayant Manglik, President, Retail Distribution, Religare Securities said: Markets settled marginally lower in a dull session today, taking a breather after the recent swing. Initially, sentiment was positive, thanks to the firm global markets but profit taking re-emerged in the middle and pushed the index lower. Participants preferred to book some profit ahead of some important results however buying in select index majors capped downside.

Markets end marginally lower as investors focus on Q1 results; PSBs drag

Nifty PSU Banks was the biggest sectoral loser, down over 1% followed by pharma, metal and IT sectoral indices

Markets end marginally lower as investors focus on Q1 results; PSBs drag

State-run lender Canara Bank fell 5% after it posted lower-than-expected first-quarter profit due to higher provisions for bad loans.

Markets end marginally lower as investors focus on Q1 results; PSBs drag

IT company Mindtree fell 4.5% to its lowest since May 5, after it reported a 1.6% drop in June-quarter profit.

Markets end marginally lower as investors focus on Q1 results; PSBs drag

Top gainers and losers on BSE Sensex

Markets end marginally lower as investors focus on Q1 results; PSBs drag

The S&P BSE Sensex ended at 31,904, down 51 points while the broader Nifty50 index settled at 9,873, down 26 points. In broader markets, BSE Smallcap hit fresh high at intra-day but later pared some gains to end 0.1% higher while BSE Smallcap ended 0.6% lower

Markets end marginally lower as investors focus on Q1 results; PSBs drag

Indian shares ended flat on Thursday, as quarterly results remained the main driver in the market, at a time when strong gains have raised concerns about valuations.   On the other hand, world shares extended a run of record highs on Thursday, as a cautious sounding Bank of Japan lifted Asian stocks to a near decade peak and Europe wagered on an incremental increase in confidence from the ECB at its latest meeting.  

Markets end marginally lower as investors focus on Q1 results; PSBs drag

Oil prices held near 2% gains made the previous session when falling US crude inventories gave the market a lift ahead of a key OPEC meeting next week.

Markets end marginally lower as investors focus on Q1 results; PSBs drag

Markets pare some losses as Axis Bank rallies over 4%, becoming the top gainer on both the frontline indices

Markets end marginally lower as investors focus on Q1 results; PSBs drag

At 2:11 pm, the Sensex was trading at 31,891, down 63 points, while the Nifty50 was ruling at 9,867, down 32 points.   The S&P BSE Smallcap index hit a new high on BSE in intra-day trade but later pared gains to trade 0.2% higher while BSE Midcap was trading 0.4% lower.

Markets end marginally lower as investors focus on Q1 results; PSBs drag

Banking index was trading 0.3% higher led mainly by private sector banks. Nifty Pvt bank index was up 0.5% while Nifty PSU Bank index was down 0.8% for the day

First Published: Thu, July 20 2017. 15:35 IST
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Markets end marginally lower as investors focus on Q1 results; PSBs drag

Track all that happened in the market here

Indian shares ended flat on Thursday, as quarterly results remained the main driver in the market, at a time when strong gains have raised concerns about valuations. On the other hand, world shares extended a run of record highs on Thursday, as a cautious sounding Bank of Japan lifted Asian stocks to a near decade peak and Europe wagered on an incremental increase in confidence from the ECB at its latest meeting.

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