The key benchmark ended lower on Wednesday, weighed down by telecom and metal stocks with BSE Sensex ending lower by 181.43 points to 32,760.44, while the NSE Nifty fell 68.55 points to close at 10,118.05. Bharti Infratel was major loser, falling 5% followed by Vedanta Ltd, Hindalco and Sun Pharmaceuticals. Sun Pharma shares declined after reporting weak quarterly numbers.
Moreover, poorly quarterly earnings by some blue-chip companies and weak global cues made mood gloomy. All the sectoral indices led by stocks such as power, metal and FMCG were trading in the red.
Metal shares tumbled due to prices of industrial metals fell in global commodities market. Hindustan Copper down 8.89%, National Aluminium Company slips 5.7%, Jindal Steel and Power down 5%, Hindustan Zinc edged lower by 4.15%, JSW Steel down 3.98% among others.
Most shares of the Reliance tumbled sharply amid heavy trading volumes, with the Anil Ambani group’s RCom shares falling to single digits for the first time ever. The other group stocks which fell include Reliance Power, Reliance Infra, Reliance Naval & Engg, Reliance Capital, and Reliance Nippon LAM.
16 Nov 2017 Tomorrow Stock Tips-
BUY SORILINFRA ABOVE 289.50 TARGETS, 292.50, 295.5, 298.5 STOPLOSS 283.5
BUY LTI ABOVE 985 TARGETS 994, 1003, 1012 STOPLOSS 867
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