Sensex, Nifty end lower after a lacklustre day; IT, pharma stocks drag


Market close: Benchmark indices ended lower on volatile day with Nifty fell to hold 11,750 level.

At close, the Sensex was down 50.12 points at 38981.43, while Nifty was down 23.40 points at 11724.80. About 1053 shares have advanced, 1442 shares declined, and 163 shares are unchanged. 
Yes Bank, Bharti Infratel, Power Grid Corp, HDFC Bank and Hero Motocorp were the top gainers on the Nifty, while losers were Britannia Industries, Zee Entertainment, Tata Motors, ICICI Bank and IndusInd Bank.
Among the sectors, except infra all other indices ended in red led by IT, pharma, FMCG, auto and bank.  
Buzzing: Share price of Hindustan Zinc declined 2 percent after company net profit fell 19.7% at Rs 2,012 crore, while revenue down 12.5% at Rs 5,491 crore.  
Buzzing: Shares of Greaves Cotton rose 4 percent after company board approves buyback of its equity shares for an aggregate amount not exceeding Rs 240 crore 
L&T construction bags orders: The metallurgical and material handling business of L&T Construction has been awarded a large order from MA'ADEN Gold and Base Metal Company (MGBM), wholly owned subsidiary of Saudi Arabia Mining Company (MA'ADEN) for setting up Mansourah Massarrah Gold project.
Buzzing: Shares of Maruti Suzuki India slipped nearly 2 percent in the early trade on May 2 after company reported weak sales numbers for the month ended April 2019.
Market Opens: Indian indices are opened flat with negative bias on Thursday with Nifty around 11,700.
At 09:18 hrs IST, the Sensex is down 61.16 points at 38,970.39, while Nifty is down 22.50 points at 11,725.70. About 414 shares have advanced, 445 shares declined, and 59 shares are unchanged. 
Yes Bank, Eicher Motors, Jet Airways, IndusInd Bank, Tata Steel, Hindalco, Vedanta, TVS Motor, Maruti Suzuki, HPCL, BPCL are among major lower in the early trade, while gainers are ONGC, IOC, JSW Steel, Britannia HDFC Bank and ITC.
Expect Infra and FMCG, all other sectoral indices are trading in red led by auto, IT, metal and pharma.
Market at pre-open: Benchmark indices are trading flat in the pre-opening session.
At 09:03 hrs IST, the Sensex is up 21.83 points or 0.06% at 39053.38, and the Nifty down 10.80 points or 0.09% at 11737.40.
Maruti Suzuki, Eicher Motors, are trading lower in pre-opening, while Britannia and Kotak Mahindra Bank are trading higher.
Asian markets trade lower: Asian markets marked time on Thursday with two major centres - Japan and China - shut for holidays while the dollar held on to overnight gains after the US central bank poured cold water on rate cut expectations.
Wall Street ends lower: US stocks ended lower on Wednesday and the S&P 500 snapped a three-day streak of record high closes as comments from Federal Reserve Chairman Jerome Powell appeared to dampen hopes the central bank could move later this year to cut interest rates.
SGX Nifty: Trends on SGX Nifty indicate a negative opening for the broader indices in India, a fall of 56 points or 0.47 percent. Nifty futures were trading around 11,793-level on the Singaporean Exchange.