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Sensex rises for 8th straight session; Nifty reclaims 10500

16 April 2018

The benchmark BSE Sensex fell almost 300 points as it went below 34000-mark in early trade amid weak Asian Cues after a US-led strike on Syrian targets fuelled fresh geopolitical concerns.

Benchmark equity indices recouped all the losses, with the Nifty reclaiming 10,500 mark backed by HDFC twins and ITC.

The 50-share NSE Nifty too moved in a wide range and finally closed 47.75 points, or 0.46 per cent, higher at 10,528.35.

The BSE market breadth was bearish with 1,445 declines and 982 advances.

Shares of UCO Bank plunged 8% on the BSE after the media report suggested that the Central Bureau of Investigation (CBI) has booked former chairman-cum-managing director of the bank's Arun Kaul and others in connection with an alleged Rs621cr loan fraud.

On Friday, both the indices ended in the green due to healthy macro-economic data, along with robust buying in metals, IT and healthcare stocks.

The major gainers on the BSE were Hero MotoCorp, Kotak Mahindra Bank, Adani Ports, Mahindra and Mahindra and Bajaj Auto, while Tata Motors, Tata Motors (DVR), Infosys, State Bank of India and ONGC were among the main losers. While the Sensex recovered about 406 points from its intra day lows and closed 112 points or 0.33% higher at 34,305 level, the Nifty rose 0.46% higher at 10,528 level.

Infosys, Dewan Housing Finance Corporation, Tata Motors, TCS and Escorts were the top traded individual stock futures contracts in F&O segment of NSE.

The rupee fell 20 paise against the United States dollar in early trade on global trade war concerns, dip in March exports and a sharp drop in domestic equities.

Sensex rises for 8th straight session; Nifty reclaims 10500