Mid-Session: Sensex, Nifty trade lower as investors book profits; Axis Bank down 2% 27/04/2017

Mid-Session: Sensex, Nifty trade lower as investors book profits; Axis Bank down 2%
27/04/2017
NIFTY FUT  TREND             : SELL ZONE
BANKNIFTY FUT  TREND  : SELL ZONE
                                        
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The Indian equities continued to trade lower in late morning deal on Thursday as investors resorted to profit booking after strong rally in last three sessions, tracking weak cues from Asian peers. The market also saw some volatility as traders rolled over positions in the futures & options (F&O) segment from the April series which expires today. Axis Bank fell nearly 2 per after the private sector lender reported a fall of 43.1 per cent in its net profit after tax at Rs 1,225.10 crore for the quarter ended March 31, 2017, on the back of higher provisions. At 12:16 hour, the Bombay Stock Exchange bellwether Sensex was trading at 30080.09, down by 53.26 points or by 0.18 per cent, and the NSE Nifty was at 9344.35, down by 7.5 points or by 0.08 per cent. During the day’s trade so far, the BSE Sensex touched intra-day high of 30184.22 and intraday low of 30044.77, while the NSE Nifty touched intraday high of 9363.4 and intraday low of 9329.25.

The top losers of the BSE Sensex pack were Axis Bank Ltd. (Rs. 507.85,-1.83%), ITC Ltd. (Rs. 285.90,-1.63%), Tata Steel Ltd. (Rs. 447.00,-1.60%), Lupin Ltd. (Rs. 1352.45,-1.37%), ICICI Bank Ltd. (Rs. 275.10,-0.67%), among others. On the flip side, Power Grid Corporation of India Ltd. (Rs. 209.10,+1.88%), Tata Motors Ltd. (Rs. 458.90,+1.80%), Hero MotoCorp Ltd. (Rs. 3346.00,+1.10%), Infosys Ltd. (Rs. 921.30,+0.79%), Hindustan Unilever Ltd. (Rs. 944.25,+0.36%), were among the top gainers on BSE.

On the sectoral front, metal and FMCG were among top losers, falling as much as 0.85 per cent and 0.6 per cent, respectively. The market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2841, shares advanced were 1242 while 1439 shares declined and 160 were unchanged.
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