Nifty closed at 9621 level lower by 3 points and Sensex closed at 31145 level lower by 13 points. Nifty and Sensex touched their all-time highs of 9649.6 level and 31255 level in the Wednesday’s trading session.
M&M was the top Nifty gainer closed higher by 4.1% at Rs 1416.95 per share while Vedanta Limited was the top Nifty loser closed lower by 2.55% at Rs 238.65 per share. The tractor and utility maker, Mahindra and Mahindra posted a 26.3% growth in profit at Rs 873.72 crore for the fourth quarter ended March 2017. The stock was the eye-catcher in the Wednesday’s trading session.
There were 827 advances, 631 declines and 51 unchanged stocks on NSE reflecting strong positive bias floating in the market.
The three heavyweight stocks, ICICI Bank, HDFC Bank and ITC pushed Nifty and Sensex to their all-time highs of 9649 level and 31255 level respectively. ICICI Bank touched its fresh 52-week high of Rs 327.4 per share on NSE in Wednesday’s trade.
The government’s Central Statistical Office (CSO) is going to release estimate for growth in the fourth quarter of FY17 on Wednesday. However, the polls by most of the private companies are signalling that India remained the fastest-growing major economy.
The Bank Nifty closed above 23400 level for the first time ever. It closed higher by 117 points at 23424 level.
Kamdhenu Limited closed higher by 6% at Rs 115.85 per share on the back of strong quarterly results. The company on Tuesday reported a 31.4% rise in net profit to Rs 3.01 crore for the quarter ended March 31, 2017. It had posted a net profit of Rs 2.29 crore in the same quarter of the previous year.
Credit rating agencies such as ICRA & CARE Ratings has downgraded Reliance Communications Ltd’s short and long-term debt to default. The stock closed lower by 0.05% at Rs 19.9 per share.
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