Indices settle flat, Nifty ends above 11,000, Metal,Telecom Stocks Fall

Key barometer indices ended almost on flat line since mixed global cues failed to give clear direction to the market. The BSE Sensex rose 21.66 points to 36,161.64. The NSE Nifty index rose 2.30 points to 11,086, as per closing data. 

State Bank of India, Adani Ports, and GAIL were the top gainers on both indices, while Bharti Airtel and Tata Motors declined the most, while IT stocks and PSU banks outperformed. SBI gained 4%, GAIL India and Tech Mahindra up by 3% each, while Airtel slipped 7% and Tata Motors, ICICI Bank fall 3% each. 

Metal stocks declined across the board with Jindal Steel & Power, Bhushan Steel, NALCO, Hindustan Copper, NMDC, SAIL India, Hindalco Industries, Tata Steel, JSW Steel, Hindustan Zinc and Vedanta edged lower between ranges 5.30% to 1.48%. 

Shares of Idea Cellular fell to a 30-days low after its net loss for the Oct–Dec period more than tripled, posting a net loss of over Rs 1,284 cr, for the Q3 ended 31 Dec 2017. 

State bank of India, HDFC and ITC were the top contributors which helped Nifty closes at record highs for the sixth consecutive day. IT sector was the star performing one in today’s trade with NIIT Tech up by 9.97% and Hexaware ending 7.29%. 

Posted in: Indian Market Tips