Indices Settle a Bit Lower Ahead of GDP Data

best shares to buyKey benchmark indices settled a little lower in a quiet session of trade, shedding 16 points to end at 33,602.76 on Wednesday as investors remained on the sidelines ahead of the expiry of Nov derivatives and second quarter GDP data. The broader NSE Nifty shed 8.95 points to end at 10,361.30 after moving between 10,392.95 and 10,345.90. Sentiment was also dampened following North Korea test fired an inter-continental ballistic missile, spreading up tensions with the U.S.

Losses in index heavyweights HDFC, State bank of India, Axis Bank, Tata Consultancy Service and Asian Paints contributed to the fall. Shares of Reliance Communication continued its losing streak for a second straight day after China Development bank dragged the RCom to the bankruptcy court to recover nearly USD 1.78 billion. The stock went down 3.88% and dragged the BSE Midcap index 0.17% lower to 17,010.51.

Stocks of SAIL India, Nalco, Tata Global Beverages Dalmia Bharat and Page Industries were on down side, among mid cap losers. Realty sector stocks out-performed with Nifty Realty Index, rising up 0.70 percent, turning itself the top gainer sectorally, followed by Nifty Pharma, which ended 0.36 percent higher at 9,352.40, while Nifty PSU Bank index suffered.

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