Markets trim gains, Nifty hovers around 7,900; ITC, Sun Pharma weak
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Benchmark indices continued to trade firm in noon deals on Friday with IT majors Infosys, TCS and Wipro leading the gains.
At 12:25 pm, the Sensex is up 157 points at 25,999 and the Nifty has gained 46 points to trade at 7,889. Broader markets are trading in line with the benchmark indices- BSE Midcap and Smallcap indices are up almost 1%.
According to Molilal Oswal market outlook for today, “Immediate support at 7,700 has been defended well as Nifty saw a swift up-move & regained 7,800. The convergence with the trigger line in momentum indicator suggests that there could be a temporary pullback before any major fall. A break above 7,870 would unfold the pullback move & propel Nifty towards 8,080.”
The report further adds, “Looks like the band of 8,000 & 7,700 could be held for the rest of the days of expiry. Drop in India VIX indicates there more chances of index moving into this range.”
From the Sensex 30 pack, GAIL is the top gainer, up almost 9%.
Other Latest News
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Talking to reporters here, Pawar also alleged that PM Modi doesn't talk about the basic issues that people face and diverts their attention.
"I have never seen a prime minister earlier whose speeches were not based on facts and reality. He is satisfied with targeting me and Uddhav Thackeray," Pawar said.
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Andhra Pradesh Chief Electoral Officer Mukesh Kumar Meena on Tuesday said 49 Lok Sabha candidates and 318 Assembly candidates have withdrawn their nominations for the May 13 simultaneous elections in the state.
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The Delhi High Court, on Wednesday, granted SpiceJet a final chance to settle a payment of Rs 50 crore to its engine lessors, Team France and Sunbird France. If the airline fails to meet this obligation, it risks having two of its engines grounded, according to a report in The Economic Times (ET).
Justice Pratibha Singh instructed the counsel representing SpiceJet to obtain guidance by May 3 regarding the feasible time period for the low-cost carrier to pay Rs 50 crore to its lessors.
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