Thursday, 9 February 2017

Sensex consolidates for 3rd day, Nifty fails to hold 8800

Ripples Advisory Private Limited, Indore @9303093093

Equity benchmarks saw consolidation for third consecutive session Thursday as investors, after pricing in Union Budget and RBI's neutral policy stance, shifted their focus back to Q3 earnings and global cues. Factory data for the month of December, due Friday evening, will also be closely watched. The 30-share BSE Sensex was up 39.78 points at 28329.70 and the 50-share NSE Nifty gained 9.35 points at 8778.40, aided by technology stocks. 

However, banks and infra stocks were under pressure. Experts expect consolidation to continue but don't see major correction in near term. After more or less stable earnings from banks, the market will closely watch third quarter earnings of SBI & Bank of Baroda, country's largest public sector lenders, on Friday.

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