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1st day of FY17: Global cues, profit booking drag Sensex, Nifty

Discussion in 'Stock Market News & Analysis' started by chetanepic, Apr 1, 2016.

  1. chetanepic

    chetanepic New Member

    Jan 9, 2016
    Likes Received:
    Intraday Trader
    Market Closing Update by Epic Research

    The 30-share BSE Sensex fell 72.22 points to 25269.64. The 50-share NSE Nifty touched an intraday low of 7666.10, before closing 25.35 points lower at 7713.05. However, the broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.2 percent and 0.9 percent, respectively, supported by market breadth. About two shares advanced for every share declining on BSE.

    Experts say after a terrible year (FY16), when the market shed 9 percent, FY17 is expected to be better year overall with the likely recovery in earnings and economy. According to them, RBI monetary policy, which is scheduled to be on April 5, is a next key event to watch out for.

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