Indian share markets continued to trade weak in the afternoon session and finished in red as caution prevailed ahead of UP state elections. After volatility, equity benchmarks ended lower for second consecutive session Wednesday as investors awaited exit polls for the Uttar Pradesh assembly elections due tomorrow and Federal Reserve policy meeting next week.

NSE Nifty closed at 8924 level, down by 22 points or 0.3%, while BSE Sensex closed at 28901 level, down by 98 points or 0.3%.

Broader markets shown weakness on Wednesday. BSE Mid-cap index closed at 13428 level, down by 76 points underperforming the major indices in the market. BSE small-cap index closed at 13633 levels, down by 42 points.

Bosch Limited was the top Nifty gainer and Idea Cellular was the top Nifty loser. Bosch closed at Rs 21900 per share up by 2.5% and Idea Cellular closed at Rs 106 per share down by 2.3%.

The highly talked about IPO in the market right now, Avenue Supermarkets IPO got subscribed by 0.6 times till the afternoon on the first day of subscription.

Government has asked the concerned ministry to initiate discussions regarding the merger of MTNL and BSNL. The markets celebrated this development. MTNL surged by 18% to touch its fresh 52-week high of Rs 26.5 per share.

V-Mart Retail Limited closed at Rs 873 per share, up by 20%.

Capital Trade Links Limited closed at Rs 32.95 per share, up by 13%.

Jindal Stainless Limited closed at Rs 67.4 per share, up by 11%.

Hathway closed at Rs 38.35 per share, up by 6.23%.

There were 521 advances, 1109 declines and 295 unchanged stocks on NSE reflecting strong negative bias floating in the market.

The rupee was trading at 66.69 per US dollar.

Top 5 Nifty Gainers: Bosch Ltd. (2.51%), Yes Bank (2.20%), Zee Entertainment Enterprises Ltd. (1.53%), Eicher Motors Ltd. (1.14%) and Kotak Bank (0.86%).

Top 5 Nifty Losers: IDEA (-2.26%), Tata Steel (-2.10%), ONGC (-1.91%), Tech Mahindra Ltd. (-1.47%) and BHEL (-1.34%)

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Stock markets in India continued to trade strong in the afternoon session and finished well above the dotted line.

Index heavyweights continue to hold the market from falling further, which is off its day’s low now. IT stocks were under pressure due to developments on H1-B visa front.

Late recovery helped equity benchmarks close Friday’s session on a flat note but posted weekly loss for the first time in last six consecutive weeks. Value buying in Reliance Industries and short covering in Infosys offset weakness banking & financials stocks and ITC. Caution continued ahead of assembly elections results next week and Federal Reserve policy meeting on March 14-15.

Asian stock markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.48% and the Hang Seng rose 0.18%. The Nikkei 225 lost 0.46%.European markets are lower today with shares in Germany off the most. The DAX is down 0.57% while London’s FTSE 100 is off 0.37% and France’s CAC 40 is lower by 0.32%.

NSE Nifty closed Nifty closed at 8,963 levels, up by 65 points or 0.7%, while BSE Sensex closed at 29,048 levels, down up by 215 points or 0.7%.

Reliance was the top Nifty gainer whereas, Grasim was the top Nifty loser in Friday’s trading session.

The BSE Mid-cap Index closed up 0.6% at 13,492 whereas, BSE Small-cap Index closed up 0.4% at 13,676.

RIL extended its gains on Monday’s trade. The stock hits its 9-year high of Rs 1312 per share and closed at Rs 1308 per share, up by Rs 49 per share or nearly 4%.

Sugar stocks in opening session extended their gains. KM Sugar Mills was up by 5.7%, Dhampur Sugar was up by 5.4%, Dwarikesh Sugar was up by 3.6%, Oudh Sugar was up by 3.7% and Ugar Sugar was up by 2.2%.

RIL closed at Rs 1308 per share, up by Rs 49 per share or nearly 4%.

Dhampur Sugar closed at Rs 230 per share, up by Rs 21 per share or 10%.

Dredging Corporation closed at Rs 503 per share, up by Rs 56 per share or nearly 13%.

Bombay Burmah closed at Rs 804 per share, up by Rs 88 per share or 12%.

There were 879 advances, 763 declines and 296 unchanged stocks on NSE, reflecting bullish undertone floating in the market.

The rupee was trading at 66.71 per US dollar.

Top 5 Nifty Gainers: Reliance Industries Ltd. (3.93%), Adani Ports & Sez (2.58%), Tata  Motors (2.24%), SBI (1.94%) and Bajaj Auto Ltd. (1.87%).

Top 5 Nifty Losers: Grasim Industries Ltd. (-1.62%), Aurobindo Pharma Ltd. (-1.16%), IDEA (-0.95%), Tech Mahindra Ltd. (-0.73%) and TCS (-0.67%)

To qualify NCFM Capital Market Dealers Module certification examination, register with Intelivisto.com and buy Capital Market comprehensive question bank which features mock test, chapter-wise and full length test as per NCFM standards. It also includes performance analysis tools to analyze the performance. For more information call on: +91-9891224488.