Domestic Equity Market ended the week with a flat note dragged by losses in metals, FMCG, auto and pharma stocks amid mixed cues from global equities. Net selling in FII/FPI was at Rs.37.33 crore while net selling of DII was at Rs.597.62 crore.The Sensex was up 12.78 points or 0.02 percent at 51,544.30 with shares of ICICI Bank, Axis Bank, Infosys, HDFC, SBI, HDFC Bank, IndusInd Bank, Bajaj Finserv were having gains of 2.67%, 1.37%, 1.36%, 1.15%, 0.78%, 0.63%, 0.59%, 0.59% respectively while shares of ITC, Sun Pharma, ONGC, Bharti Airtel, Titan, NTPC, Maruti were having loss of 3.97%, 2.53%, 2.46%, 1.98%, 1.96%, 1.44%, 1.30% respectively. The Nifty settled at 15,163.30, down 10.00 points, or 0.07 percent with Indexes like Bank, IT, Realty were having gains of 1.00%, 0.19%, 0.01% respectively while Metal, FMCG, Pharma, Energy, Media, Auto Indexes were having loss of 1.70%, 1.55%, 1.11%, 1.07%, 0.96%, 0.48% respectively.
TOP STOCKS IN NEWSCAST:
ICICI Bank rose nearly 3% as Chanda Kochhar, former MD and CEO of ICICI Bank, has been granted bail on a bond of Rs 5 lakh by Special PMLA (Prevention of Money Laundering Act) court in ICICI Bank-Videocon loan case.
Axis Bank gained over 1% as CLSA has a buy rating on Axis Bank with a target price of Rs 1,000. However, they believe that there is a potential for further re-rating of 40-70% and that the bank can deliver 16% plus return on equity (RoE).
Infosys jumped over 1% as the company had announced investing in ideaForge, an Indian start-up focused on unmanned aerial vehicle or UAV solutions (drones).