indian stock market update

Sensex, Nifty Down – Expert Prediction For Nifty Next Week

Equity benchmarks closed lower on profit booking as the Sensex failed to hold 30000 level on weekly basis. The 30-share BSE Sensex was down 111.34 points at 29,918.40 and the 50-share NSE Nifty fell 38.10 points to 9,304.05. SBI, ONGC, Maruti Suzuki, ICICI Bank, Asian Paints, Adani Ports and Sun Pharma gained 1-3 percent while ITC, HDFC Bank, HDFC, Reliance Industries and TCS lost 1-2 percent.

Today’s Top Gainers: ONGC, Bank of Baroda, SBI, Maruti Suzuki, Hindalco
Today’s Top Losers: Bharti Infratel, ITC, BPCL, Tech Mahindra, HDFC

Expert Prediction For Nifty Next Week

Experts expect further consolidation initially in the next week but they don’t see major fall in near term due to supportive domestic factors like earnings which have not disappointed so far, consistent DIIs investment when FIIs were net sellers and hopes of stable government.

The only negative factor that can spoil the party would be the issue between US and North Korea. If the fight between these countries intensified then Nifty could fall below 9000 level.

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