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Posted On : 21 Apr, 2017  Source : PTI  Place : Mumbai 
Sensex snaps 2-day gaining spree, ends lower by 57 pts
The S&P BSE benchmark sensex snapped its 2-day winning spree due to fag-end selling pressure from operators mainly in FMCG, Healthcare, Metal, Auto and IT sectors on the back of fresh foreign capital outflows.

The sensex resumed higher at 29,576.66 and firmed up further to a high of 29,584.34 on initial strong buying on the back of overnight gains in US market.

But it failed to maintain initial gains and dropped to 29,259.42 due to fag-end selling perssure before ending at 29,365.30, showing a loss of 57.09 points or 0.19 per cent.

The sensex had gained by 103.29 points or 0.35 per cent in previous two days.

The NSE Nifty moved down by 17 points or 0.19 per cent to end at 9,119.40.

Foreign funds sold shares net Rs 168.84 crs yesterday as per the provisional figures issued by stock exchanges.

Mr. Anupam Singhi, COO of William O'Neil India said," After starting the day in the green territory, frontline indices declined sharply in today s post noon session. Today HDFC Bank reported its Q4 FY 2017 earnings, which showed a strong double digit profit growth. However a sharp rise in the provision limited the earnings growth of the company.

US stocks closed higher yesterday on rising expectations for first-quarter corporate profits.

Asian stocks ended higher after Bank of Japan's (BOJ) Governor Haruhiko Kuroda maintained an accommodative monetary policy and on optimism for a US tax overhaul. Key indices like China, Japan, Singpaore, South Korea and Taiwan moved up 0.03 pct to 1.03 pct while Hong Kong Hangseng eased by 0.06 pct. 

Euroepan markets were trading narrowly mixed in their afternoon trade as key indices like France and UK moved down by 0.14 pct to 0.56 pct while Germany's DAX was quoted up by 0.05 pct.

The BSE Mid-Cap index provisionally rose 0.02 per cent. The BSE Small-Cap index provisionally rose 0.25 per cent. Both these indices outperformed the Sensex.

Back home, of the 30-share Sensex pack, 23 scrips ended lower while 7 gained.

Major laggards were Sun Pharma 2.41 per cent, Cipla 1.84 per cent, ITC 1.81 per cent, Adani Ports 1.72 per cent, Power Grid 1.44 per cent, Wipro 1.36 per cent, ICICI Bank 1.34 per cent, Lupin 1.31 per cent, M&M 1.28 per cent, Coal India 1.12 per cent, Maruti 1.10 per cent and HUL 1.08 per cent.

However, HDFC Bank rose by 2.38 per cent followed by Reliance 2.22 per cent, NTPC 1.83 per cent, Asian Paints 0.43 per cent and L&T 0.39 per cent.

Among BSE sectoral and industry indices, FMCG lost by 0.97 pct, healthcare 0.76 per cent, metal 0.59 per cent, auto 0.41 per cent, IT 0.36 per cent and teck 0.21 per cent, while realty rose by 2.37 per cent, telecom 0.75 per cent, energy 0.75 per cent, utilities 0.31 per cent and power 0.28 per cent.

The market breadth remained positive as 1,449 stocks ended higher, 1,422 closed lower while 143 ruled steady.

The total turnover on BSE amounted to Rs 7,376.16 crore, higher than the turnover of Rs 4,028.59 crore registered during the previous trading session.