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Monday, 15 May 2017

Sensex, Nifty end at fresh closing highs,Stock Market Prediction Tomorrow

sensex nifty record high
The benchmark indices logged at a new record highs on Monday with the BSE Sensex, rising 133.97 points or 0.44% at 30,322.12. The Nifty-50 index too rose 44.50 points or 0.47% at 9,445.40. Anticipation of an interest rate cut by the RBI after the latest data indicated a sharp fall in headline retail inflation boosted sentiment on the Exchanges. 

In the broader market, the BSE Midcap added over 1 percent to finish at fresh closing high, while the BSE Smallcap indices ended 0.8 percent higher. The market breadth, showing the overall health of the market, was positive. On the BSE, 1,495 shares rose and 1,307 shares fell. A total of 182 shares were unchanged. 

Dr Reddy’s Laboratories, Tata Steel and Hindalco gained the most on Sensex and Nifty, while Hero MotoCorp, Infosys Ltd and Aurobindo Pharma lost the most. Among the losers, Idea Cellular fell 6.28% after the company posted a net loss for the quarter ended March. 

Sectorally, the Nifty Metal index went up 2.3% as the leading gainer, led by gains in Welspun Corp, which rose 7%, followed by Tata Steel, Hindalco and SAIL. Tata Steel was the top performer on both indices and gained over 4 percent to end at Rs 456 on the BSE ahead of its Q4 earnings due tomorrow. Jindal Stainless advanced 6 percent to its highest in over 9 years after the company declared its March quarter earnings on Friday. 

Meanwhile, the benchmark Te-year bond yield was down 8 bps at 6.83 percent, after earlier falling to 6.82 percent, the lowest since 17 April.

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