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Friday, 5 May 2017

Nifty Closed Below 9300; Sensex Slipped 267 Points

Equity benchmarks erased previous day's gains, up nearly a percent on profit booking in banks, oil and metals stocks. The Nifty closed at 9285 levels down by 74 while Sensex closed lower by 267 points at 29858 levels in Friday’s trading session. The broader market indices also have shown weakness in the Friday’s trading session. The BSE Mid-cap index closed lower by 1.09% at 14718 levels while BSE Small-cap index closed lower by 0.84% at 15355 levels. 

Asian Market Update: Hong Kong's index Hang Seng declined 207 points to 24476,Shanghai Composite felled 24 points to 3103 while Nikkei 225 gained 135 points at 19445. 

Experts View: Continued to expect volatility in the market as the market is currently highly valued. They say if earnings improve further then the market may not see a major reaction. Every correction will be bought into, they believe. As long as the market gets DIIs' support despite FIIs selling, they don't see major fall in the market.

Top Gainers: Adani Ports,Asian Paints, ICICI Bank, Maruti Suzuki.  
Top Losers: Tata Motors, ONGC, Axis Bank, GAIL, Reliance.

Movers and Shakers of the day:

Dilip Buildcon Limited closed higher by 7.48% at Rs 459.55 per share. 

Gujarat Ambuja Exports Limited closed higher by 5.81% at Rs 140.25 per share.