Wednesday, May 17, 2017

Today's Stock Market Recommendation & News Update

Market Live: Sensex opens lower, Nifty snaps 9500 on profit booking; Tata Steel up 3% post Q4

Profit booking after a stellar run on Tuesday pushed the indices lower in the opening session, with the Nifty snapping 9500-mark.

The 30-share Sensex was down 46.43 points at 30536.17, while the broader index Nifty was down 20.15 points at 9492.10. The market breadth was narrow as 436 shares advanced against a decline of 357 shares, while 62 shares were unchanged.

Midcaps, banks, auto and pharma indices on the Nifty were lower, while metals surged.
Tata Steel gained over 3 percent on the back of strong Q4 earnings, while TCS and ICICI Bank were the other top gainers. Meanwhile, ITC, Bharti Airtel, Zee Entertainment and Bosch lost the most.

The Indian rupee opened higher by 9 paise at 63.99 per dollar on Wednesday, at highest level since April 27, 2017. It has closed at 64.08 on Tuesday.

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