Sensex Ends Down 21 Points; Nifty Stays Above 10400

A trader reacts as he watches screens on the floor of the New York Stock Exchange in New York on Feb 5

Gitanjali Gems cracked 4.90 per cent to Rs 13.60 after National Stock Exchange (NSE) levied penalty on the company for failure to file financial results for quarter ending December. Brokers said buying picked up on select counters on positive economic data. It was followed by Tata Steel (Rs. 514.73 million), Tata Consultancy Services (Rs. 389.80 million) and Bank Of India (Rs. 384.53 million).

Shares of Tata Consultancy Services (TCS) cracked almost 5 per cent after Tata Sons on Monday sold a 1.48 per cent stake in its flagship IT services firm to raise Rs 8,127 crore (USD 1.25 billion). 30-share BSE Sensex opened with a loss of 99.72 points on 33,818.22.

A total of 12 stocks registered a fresh 52-week high in trade today, while 54 stocks touched a new 52-week low on the NSE.

"Market gained a positive momentum on account of easing inflation & better than expected IIP data". In January, WPI eased in for the second straight month after touching an eight-month high in November aided by slower rise in food and fuel prices.

Tech Mahindra (+2%), Yes Bank (+1.8%), Ambuja Cement (+1.4%), Ultratech Cement (+1%) and HCL Tech (0.7%) were top gainers on Nifty50.

The Sensex losers were: Coal India, down 2.26 per cent at Rs 297.80 and State Bank of India, down 0.12 per cent at Rs 252.85. Axis Bank, SBI and ICICI Bank also pared early losses to end higher by up to 0.89 per cent. The stock on Wednesday closed 3.37 per cent higher at Rs 638. China's SSE Composite index and the blue-chip CSI 300 slipped 0.3 percent each.

Sectoral indices led by consumer durables, capital goods, realty, bankex, oil & gas, PSU, FMCG, healthcare and auto were trading in the green, rising up to 0.66 per cent.

Bucking the trend BSE small-cap index rose by 1.14 per cent and mid-caps gained 1 per cent as retail investors raised their bets.

Asian shares eased amid fears of rising USA protectionism as President Donald Trump fired his Secretary of State, regarded as a moderate in his administration.

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