Nifty Tips
Key equity benchmarks ended flat ahead of Thursday's derivatives expiry. Also, investors chose to stay out as the market will remain shut tomorrow on account of Mahavir Jayanti.
But traders maintain their cautious stance primarily due to the F&O expiry and RBI’s monetary policy scheduled on May 3.
Selling pressure was seen in capital goods, realty and banking stocks. Pharma, IT and oil&ags stocks were on buyer's radar.
The Sensex closed at 19179 up 9 points and the Nifty ended at 5836 up 2.5 points.
Asian markets also ended on a weak note. Chinese markets saw 2 percent plus cuts after the April HSBC PMI reading came in below estimates at 50.5, renewing fears of a slowdown.
The Prime Minister's Economic Advisory Council (PMEAC) projected the economy to grow at 6.4 percent in FY14. He also said FY14 current account deficit (CAD) is expected to narrow down to 4.7 percent (from 5.1 percent in FY13) when the pace of exports pick up.
Bajaj Auto, Hero Motocorp, Sun Pharma, Kotak Mahindra and Jaiprakash Associates were top gainers on the Nifty. Jindal Steel, DLF, Larsen, IDFC and SBI were top losers.
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