Thursday, April 7, 2016

Sensex, Nifty flat; Infosys, BHEL, Hero early losers

Stock Tips
The market started off last day of the week on a negative note, tracking weak Asian cues. The Sensex fell 45.88 points to 24639.54 and the Nifty declined 12.25 points to 7534.20.

Infosys, BHEL, Hero Motocorp, Tata Steel, Maruti Suzuki and Ambuja Cements were early losers, down 1 percent each while Dr Reddy's Labs, Tata Motors, Lupin, Coal India, NTPC, Tata Power and BPCL were gainers.

Asia markets were broadly lower today, after US equities sold off overnight amid renewed concerns over global growth and the effectiveness of central bank policy. Japan's Nikkei was down 0.13 percent. China's Shanghai lost 0.9 percent and Hong Kong's Hang Seng declined 0.7 percent.

US stocks dropped on Thursday as oil prices slid and worries about the global economy resurfaced, dragging down the dollar against the Japanese yen and causing investors to flee riskier assets. S&P 500, Dow Jones and Nasdaq were down between 1-1.5 percent.

Major Headlines of the day:
SBI, ICICI Bank cut home loan rates.
RCom to migrate CDMA users to Jio's 4G network.
ITC renews 40-year partnership with Starwood Hotels

Trend in FII flows:The FIIs were net  sellers of  Rs -294.72 Cr in the cash segment on Wednesday while the DIIs were net buyers of  Rs 16.06 Cr, as per the provisional figures released by the NSE.

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