Sensex, Nifty Reverse Early Gains Ahead Of French Election

Rupee climbs to 20-month high stocks slip

At the close, the benchmark 30-share index, BSE Sensex declined 57.09 or 0.19% at 29,365.30 with 21 components registering drop.

The Sensex has so far touched a high of 29,584.34 points and a low of 29,265.32 points during the intra-day trade.

The NSE Nifty rose by 32.90 points or 0.36 per cent to 9,136.40 points, while the Sensex closed at 29,422.39 points - up 85.82 points or 0.29 per cent. It fell by 42.25 points or 0.46 per cent, to 9,094.15 points.

"The quarterly results till date have painted a mixed picture while concerns over upcoming French election is adding risk to the market".

In terms of the broader markets, the S&P BSE mid-cap index was up by 0.02 per cent, while the small-cap index closed higher by 0.25 per cent.

Among BSE sectoral indices, FMCG index fell the most by 0.97 per cent, followed by healthcare 0.76 per cent, metal 0.59 per cent and auto 0.41 per cent.

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Major Sensex losers were: Sun Pharma, down 2.41 per cent at Rs 640.05; Cipla, down 1.84 per cent at Rs 563.40; ITC, down 1.81 per cent at Rs 274.35; Adani Ports, down 1.72 per cent at Rs 325.95; and Power Grid, down 1.44 per cent at Rs 205.60.

HDFC Bank was the biggest gainer, rising 2.38 percent to Rs 1,496.75 after the company report an 18.2 percent growth in net profit at Rs 3,990 crore for the March quarter.

Reliance Industries remained at the centre of brisk activity and surged 2.22 per cent to Rs 1,399.75.

A firming trend at other Asian markets, tracking overnight gains at the Wall Street on revived hopes of U.S. tax cuts mainly accelerated buying activity on the domestic bourses, brokers said. Shanghai Composite Index was marginally up by 0.07 per cent.

London's FTSE shed 0.17 per cent.

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