Share benchmark closed flat after recovering from day’s bottom on Wednesday with BSE Sensex ended down 43.13 points at 34,906.11 whereas NSE Nifty settled 18.95 points lower at 10,614.35 on Wednesday’s volatile trading session. Meantime, Investors kept on profit-booking ahead of the May month derivatives expiry falls tomorrow, 31 May 2018.
Shares of Mahindra and Mahindra, Coal India Limited, Yes Bank, Kotak Mahindra Bank, Hindustan Unilever Ltd and Power Grid come out as the top gainers in the sensitive index rising up to 3 percent while shares of Tata Motors, ICICI Bank, Bajaj Auto Ltd and Axis Bank were the top laggards.
Shares of prominent auto maker Mahindra and Mahindra (M&M) jumped over 3%, propped up by stellar March quarter earnings. The company announced that its net profit spiralled 50 percent to Rs 1,155 crore for March quarter.
Shares of Coal India Limited climbed 2.34 percent despite Company’s March quarter numbers missed market expectations. The coal major reported its profit more than half to Rs 1,295.22 crore for March quarter.
Meantime, according to PTI report, Moody’s Investors Service on Wednesday cut India’s 2018 growth forecast to 7.3 pc from the previous estimate of 7.5 pc, citing the economy is in cyclical recovery but higher oil prices & tighter economic conditions will weigh on the pace of acceleration.