Weak trade on D-Street, Infosys tanks on poor Q4 results

 Benchmark indices NSE Nifty closed at 9150 levels, down by 52 points or 0.5%, whereas the BSE Sensex closed at 29,461 levels, down by 182 points or 0.6%. 
 
While, BSE Mid-cap Index closed up 0.03% at 14350 whereas and the BSE Small-cap Index closed up 0.1% at 14881.
 
There were 787 advances, 856 declines and 308 unchanged stocks on NSE, reflecting fairly bearish undertone floating in the market.
 
IOC was the top Nifty gainer whereas, Hindalco was the top Nifty loser in Thursday’s trading session closing at Rs 422 per share up by 3% and Rs 183 per share down by 5% respectively.
 
All eyes were on the Infosys stock since the company came up with its financial results for the quarter ended on March 31, 2017.
 
Infosys reported standalone results for the quarter, registered a miss versus street estimates. Revenue for the quarter came in 13.4 % lower than the estimated figure of Rs. 17235 crores. Also, net profit for the quarter came in 0.2 % lower than the estimated figure of Rs. 3570 crores.
 
The stock was reeling under pressure throughout the day. The stock closed at Rs 933 per share down by 3.6%.
 
The BSE Metal index was the top losing index on Thursday’s trading session with Vedanta Limited contributing nearly 70% to the index down fall.
 
Vedanta Limited closed at Rs 244 per share down by Rs 14 per share or 5.4%.

Opening Bell – Nifty opens flat with slightly negative bias; Infosys top Nifty gainer

At 9:15 AM, the BSE Sensex opened lower by six points at 29637, while the Nifty50 opened lower by one points at the 9202 mark.
 
Infosys is the top Nifty gainer and Tata Power is the top Nifty loser in the morning hours on Thursday. Infosys is trading higher by 1.5% at Rs 983.9 per share whereas Tata Power is trading lower by 1.23% at Rs 84.5 per share.
 
There are 812 advances, 597 declines and 488 unchanged stocks on NSE reflecting fairly positive bias floating in the market.
 
For Nifty index, the levels of 9,245 and 9,280 may prove as a short-term resistance levels, whereas the level of 9,150 is likely to act as a short term support.
 
The rupee opened at 64.44 per dollar up by 24 paise.
 
The US stocks fell for a second day in a row on Wednesday as lingering geopolitical concerns weighed on investor’s sentiment. The Dow Jones Industrial Average shed 59 points to end at 20,592. The Nasdaq Composite Index slipped 30 points and S&P 500 dropped 9 points. 
 
Asian markets declined on Thursday. Japan’s Nikkei 225 declined for a third session after the yen rose to the strongest in almost five months. Hong Kong’s Hang Seng has slipped 102 points and China’s Shanghai Composite has shed 4 points in morning trade.