Thursday, 29 May 2014

Nifty at day's low

Indices struggle at lows; pharma, auto buck the trend

2:46PM: The BSE Sensex is trading down 249 points at 24,306, while S&P Nifty is trading down 64.95 points at 7,264.
BSE Mid-cap is down 0.16% at 8,449, while BSE Small-cap is down 0.34% at 8,998.
Barring healthcare sector, all the other sectoral indices are in red. BSE IT index is down 3.08%, while Oil & Gas index is down 1.21%.
Dr Reddy's Lab, Hindalco, Axis Bank, SBI and Gail are among the gainers, whereasInfosysWiproHDFC BankCipla and Coal India are losing sheen on BSE.
Revenue department to make presentation to FM on GST at 4:30pm today.
Prime Minister Narendra Modi will announce its priority agenda today. The PM has stressed on governance, delivery and implementation. He has asked each ministry to form a 100-day priority list and also asked minsters to address state views with Centre. The PM would meet ministers and secretaries separately.
The Parliamentary Affairs Ministry said that the Rajya Sabha will begin session from June 9.

Stock news:
Hindalco Group has posted a consolidated net profit of Rs. 21750.10 million for the year ended March 31, 2014 as compared to Rs. 30268.90 million for the year ended March 31, 2013. The stock is up 1.36% on BSE.
Infosys is trading down 7.15% at Rs. 2,945 on BSE. Infosys has lost yet another senior executive. The company's president and board member BG Srinivas resigned on Wednesday. "The resignation will be effective June 10," the software major said in a statement.

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