Sensex, Nifty End With Losses In A Sideways Session
An employee is reflected in a glass panel as he monitors securities on a computer at a brokerage firm in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Sensex, Nifty End With Losses In A Sideways Session

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Markets At Close

  • Nifty ends 0.8 percent lower at 9,199
  • Nifty futures trade at a premium of 11 points
  • Sensex ends 0.76 percent lower at 31,443
  • Nifty Bank ends 1 percent lower at 19,491
  • Nifty Midcap Index ends 0.5 percent lower
  • Nifty Smallcap Index ends 0.5 percent higher
  • India Volatility Index ends 3.7 percent lower at 39.72
  • Nifty FMCG ends as the top sectoral laggard; down 1.4 percent
  • Other sectoral indices end flat to negative
  • Bharti Infratel ends as the top Nifty gainer; up 7.1 percent
  • NTPC ends as the top Nifty laggard; down 4.3 percent
  • 812 stocks on the NSE end with gains while 939 end with losses

Top Laggard & Sectoral Picture

Closing Bell: A Session Of Consolidation

Indian markets remained stuck in a narrow range to end Thursday's trading session with losses. On the other hand, markets in Europe are trading with gains while futures on the Dow Jones are trading higher by 320 points.

The S&P BSE Sensex traded in a 400 point range throughout the session to end 0.76 percent lower at 31,443. The NSE Nifty 50's range was down to 100 points, ending at 9,199, down by 0.77 percent. 40 out of the 50 Nifty constituents ended with losses.

Both benchmarks have declined for three out of the four trading sessions this week.

Among sectoral indices, most of them ended flat with the Nifty FMCG index and the Nifty Bank index ending with losses of over 1 percent.

812 stocks on the NSE posted gain while 939 ended with losses.

Stock Update: State Bank Of India

The country's largest lender has reduced the Marginal Cost of fund based Lending Rate (MCLR) by 15 basis points across tenors. The one-year MCLR is now at 7.25 percent from the earlier 7.4 percent

This is the 12th consecutive reduction in the bank's MCLR as per its press release. The change will be effective from May 10, 2020.

The bank has also pruned its interest rate on Retail Term Deposits by 20 basis points for tenor up to three years due to adequate liquidity in the system.

Shares currently trade little changed at Rs 170.9 on the National Stock Exchange.

Trading Ideas From Rahul Mohindar Of Viratech Software

  • Buy Manappuram Finance for target of Rs 138 and stop loss of Rs 113
  • Sell L&T for target of Rs 760 and stop loss of Rs 850

Trading Ideas From Brijesh Singh Of StockAxis

  • Sell Nifty At 9,200 for target of 9,050 and stop loss of 9,300
  • Sell Lupin at Rs 814 for target of Rs 790 and stop loss of Rs 835
  • Sell Power Finance Corporation at Rs 87.8 for target of Rs 85 and stop loss of Rs 89.2
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