Friday, 13 January 2017

Nifty snaps 3-day gains but manages to hold 8400

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The market failed to extend gains for fourth consecutive session Friday as the Nifty ended flat with a negative bias but managed to hold the 8400-mark. Technology stocks dragged the market lower but index heavyweights ITC, HDFC and Reliance Industries capped the downside. Fall in December CPI inflation and unexpected growth in November factory data despite currency demonetisation also supported the market. 

The 30-share BSE Sensex was down 9.10 points at 27238.06 on profit booking after a 317-point swing intraday. The 50-share NSE Nifty fell 6.85 points at 8400.35 after hitting an intraday high of 8461.05 and low of 8373.15.

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