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Sensex, Nifty trade lower, Infosys shares fall 3%

16 April 2018

The broader NSE Nifty too struggled before ending well above the 10,500-mark.

Meanwhile, India's wholesale inflation eased to an eight-month low of 2.47 percent in March on cheaper food articles, the commerce ministry report showed, helping investors shrug off Infosys's lackluster quarterly results and data showing widening trade deficit in March.

The 30-share barometer fell by 293.31 points (0.85 percent) to 33899.34.

The BSE Midcap and the BSE Smallcap indices were fell by 0.12% and 0.04%, respectively.

UCO Bank plunged 6.3 percent after the CBI booked its former chairman in connection with an alleged Rs 621-crore loan fraud.

Gruh Finance gained 5% after the board also recommended a dividend of Rs3.30 per equity share of face value of Rs2 each for the financial year ended March 31, 2018.

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Market observers said that healthy buying in healthcare, fast moving consumer goods (FMCG) and capital goods stocks supported the northward trajectory of key indices.

The Sensex touched a high of 34,169.29 points and a low of 33,899.34 points during the intra-day trade so far.

Major losers were Tata Motors DVR, Tata Motors, Infosys, Axis Bank, Tata Steel, ONGC and SBI.

Cipla (+3.7%), Grasim (+2.7%), Lupin (+1.8%), Tech Mahindra (+1.6%) and Indiabulls HF (+1.5%) were the top gainers on the NSE.

Market breadth was negative with 1,253 stocks closing higher against 1416 stocks ending lower on BSE.

The rupee fell 20 paise to 65.40 against the U.S. dollar in early trade on global trade war concerns, dip in India's exports in March and a sharp drop in domestic equities.

Sensex, Nifty trade lower, Infosys shares fall 3%