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Markets close flat; ICICI Bank, oil marketing companies slip

Markets close flat; ICICI Bank, oil marketing companies slip

Markets close flat; ICICI Bank, oil marketing companies slip
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By CNBC-TV18 Apr 11, 2018 4:12:33 PM IST (Updated)

On the global front Asian markets closed mixed, with several regional markets giving up early gains after the recent trade fears waned in the last session.

The markets closed flat with the BSE Sensex and the NSE Nifty closing with minor gains, while the Nifty Bank ended in the red.

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Nifty Bank wrapped the trade below 50-day moving average.  ICICI Bank was the the biggest index loser in today’s session after gaining in the previous session.
The Nifty closed 15 points higher at 10,417 with Reliance and TCS being the major contributors.
The Sensex gained 0.2% at the close. The index stood at 33,940 points. The Nifty Midcap recovered 133 points from the lows to close flat at 19,633.
The rising crude prices and reports where it was claimed that the government is likely to ask oil marketing companies to absorb costs Re 1 per litre, led to big a fall in the downstream companies.
All the three oil firms, IOC, HPCL and BPCL saw a fall in the range of 6-7%.
Aviation companies, Jet airways, IndiGo and SpiceJet declined as the Brent crude hit a four-year high at $71/bbl.
Among the gainers were IT stocks which performed better as the rupee slipped against the US Dollar.
From the derivatives, the Nifty 10,400 Put added a little over 7 lakh shares in the open interest, while the 10,700 Call shed more than 11 lakh shares. The Nifty April Futures is now at one point discount spot level against Tuesday’s level of 19.25-point premium.
On the global front Asian markets closed mixed, with several regional markets giving up early gains after the recent trade fears waned in the last session.
Japan's Nikkei closed 0.5% lower, while Hong Kong's Hang Seng  and China's Shanghai advanced 0.5% each.
Stocks: Exchange Announcements
Bajaj Electricals: The firm won an order for six rural electrification projects worth Rs 2,389 crore under the Saubhagya scheme.
Pennar Industries: The firm formed a special purpose vehicle with Enertech Engineering.
Bharat Forge: The company recently bagged two major export orders in protected vehicles segment.
OMCs: IOC, BPCL ,HPCL signed a memorandum of understanding with Saudi Aramco.
Goa Carbon Q4: The firm posted a net profit at Rs 11.8 crore.
Waterbase: The Central Institute of Brackishwater aquaculture signed an MoU with the company.
Sanwaria Agro Oils Q4: The firm posted a net profit at Rs 35.7 crore.
Tata Communications: The company partnered with Primestream for media asset management.
Stocks In Focus
Monsanto: The Delhi High Court rejected Monsanto's patent suit for BT cotton seed varieties and allowed the firm to seek registration of its BT seed varieties.
From PTI: The GMR group will set up its aerospace and the defence manufacturing hub in Tamil Nadu.
HPCL: The firm declared that it did not receive any notification with respect to the absorption of Rs 1 per litre.
 
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