The Indian equity market ended on a flat note on Thursday as the benchmark indices yet again struggled for direction throughout the day.
The Market opened on a flat note in early trade and from there on it remained stuck in a tight trading range.
The capital goods, FMCG, realty and the banking stocks were among the top losers. However,? bucking the negative trend were oil and gas, power and the healthcare stocks.
The IT stock were in momentum ahead of results of Infosys is scheduled to be announced on Friday. The stock marginally gained by 0.7% and closed at Rs. 3448 per share.
Amar Ambani Head of research at IIFL said, “Based on our expectation Q3 FY14 revenue growth would be better than that factored in the current revenue guidance, we estimate Infosys to raise FY14 revenue growth guidance to 11.5-12%. On the margin front, Infosys is expected to deliver the best margin performance with sequential improvement of 100bps. But this has to be looked in the context of steep margin fall in previous quarters.”
Shares of gold loan companies were in the limelight after Reserve Bank of India (RBI) revised the loan-to-value (LTV) cap for gold loan non-banking financial companies (NBFCs) to 75% this quarter from 60%. Shares of Manappuram Finance and Muthoot Finance both hit 20% upper circuit.
Finally, BSE Sensex closed at 20,713 down 16 points, while NSE Nifty closed at 6,168 down 6 points over the previous close.
The Market opened on a flat note in early trade and from there on it remained stuck in a tight trading range.
The capital goods, FMCG, realty and the banking stocks were among the top losers. However,? bucking the negative trend were oil and gas, power and the healthcare stocks.
The IT stock were in momentum ahead of results of Infosys is scheduled to be announced on Friday. The stock marginally gained by 0.7% and closed at Rs. 3448 per share.
Amar Ambani Head of research at IIFL said, “Based on our expectation Q3 FY14 revenue growth would be better than that factored in the current revenue guidance, we estimate Infosys to raise FY14 revenue growth guidance to 11.5-12%. On the margin front, Infosys is expected to deliver the best margin performance with sequential improvement of 100bps. But this has to be looked in the context of steep margin fall in previous quarters.”
Shares of gold loan companies were in the limelight after Reserve Bank of India (RBI) revised the loan-to-value (LTV) cap for gold loan non-banking financial companies (NBFCs) to 75% this quarter from 60%. Shares of Manappuram Finance and Muthoot Finance both hit 20% upper circuit.
Finally, BSE Sensex closed at 20,713 down 16 points, while NSE Nifty closed at 6,168 down 6 points over the previous close.
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