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Daily Market Commentary : 15th March. 2017

Share markets in India finished flat as the sentiment turned tepid ahead of the outcome of the US Federal Reserve’s meeting later in the day.

NSE Nifty closed at 9084 levels, down by 2 points or 0.02%, while BSE Sensex closed at 29398 levels, down by 44 points or 0.15%.

Idea was the top Nifty gainer whereas, TCS was the top Nifty loser in Wednesday’s trading session.

The BSE Mid-cap Index closed up 1% at 13700 whereas, BSE Small-cap Index closed up 0.6% at 13858.

IT stocks underperformed broader markets and was the top losing index on the BSE on Wednesday.

Infosys contributed nearly 50% to the BSE IT index downfall dragging the index to its lows. The stock closed at Rs 1011 per share up by Rs 23 per share or 2.2%.

Among the Telecom stocks Idea was the top buzzing stock in morning trade and was up by nearly 10%. The stock closed at Rs 113 per share up by Rs 10 per share or 9.9%.

Tyre stock, MRF was gaining ground in lunch hours closing at Rs 57100 per share up by Rs 4 per share or 7.7%.

Godfrey Phillips closed at Rs 1266 per share, up by Rs 189 per share or 17%.

GTL Infra closed at Rs 6 per share, up by Rs 0.7 per share or nearly 13%.

Kirloskar Electric Company closed at Rs 41 per share, up by Rs 4 per share or nearly 13%.

Kolte Patil Developers closed at Rs 137 per share, up by Rs 16 per share or 13%.

There were 846 advances, 783 declines and 294 unchanged stocks on NSE, reflecting bearish undertone floating in the market.

The rupee was trading at 65.68 per US dollar.

Top 5 Nifty Gainers: IDEA (9.90%), BHEL (3.32%), Bank of Baroda (3.26%), Aurobindo Pharma Ltd. (2.20%) and Tata Power (1.85%).

Top 5 Nifty Losers: TCS (-2.67%), Infosys Ltd. (-2.28%), HCL Technologies Ltd. (-1.46%), Wipro (-1.31%) and Hindustan Unilever Ltd. (-1.20%)

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Daily Market Commentary : 15th March. 2017

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