The liquidity driven rally has taken benchmark indices to record highs, along with nearly 100 stocks on the BSE, but will the rally hold? This is one question which everybody is asking right now.

NSE Nifty closed at 9342 levels, lower by 9 points or 0.1%, whereas the BSE Sensex closed at 30,029 levels, lower by 103 points or 0.3%.

While, BSE Mid-cap Index closed up 0.07% at 14772 whereas, BSE Small-cap Index closed down 0.02% at 15279.

Asian equity markets finished mixed as of the most recent closing prices. The Hang Seng gained 0.49% and the Shanghai Composite rose 0.36%. The Nikkei 225 lost 0.19%. European markets are lower today with shares in London off the most. The FTSE 100 is down 0.58% while France’s CAC 40 is off 0.33% and Germany’s DAX is lower by 0.24%.

Bank stocks finished the day on a mixed note with IDFC Bank & Yes Bank leading the gains. Axis bank share price declined over 2.2% after the private lender reported a 43.13% drop in net profit for the quarter ended 31 March 2017 to Rs 12.25 billion from Rs 21.54 billion reported for the same quarter of 2015-16.

Bank of India closed at Rs 179 per share, up by Rs 15.75 or 9.65%.

IDFC Bank closed at by Rs 65.15 per share up by Rs 3.90 or 6.37%.

Manglore Refinery and Petrochemicals closed at Rs 132.95 per share up by Rs 7.10 or 5.65%.

JSW Energy closed at Rs 67.10 per share up by Rs 3.45 or 5.4%

The rupee was trading at 64.11 per US dollar.

Top 5 Nifty Gainers: YESBANK. (3.58%), ACC (2.21%), IOC (2.12%), KOTAKBANK (1.52%) and AMBUJACEM (1.48%).

Top 5 Nifty Losers:  AUROPHARMA (-3.02 %), LUPIN (-2.63%), ITC (-1.91%), AXISBANK (-1.72%) and HDFC (-1.57%)

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The rally was driven by hopes of earnings growth and continued buying by domestic investors. Rising global optimisim on French elections results and likely announcement of tax reforms by Donald Trump in the US also pushed the markets higher.

The  Sensex on Wednesday closed above the 30,000 mark for the first time on strong quarterly earnings and an appreciating rupee which triggered buying activity.

The S&P BSE Sensex ended the session 190 points higher at 30,133.35. The Nifty 50 settled the day at 9,351.85, up 45.25 points at 9,351.85, a new record closing. BSE’s  market cap rose to Rs 124.83 lakh crore.

In the banking space, the Bank Nifty index touched the fresh 52-week high of 22276 level up by 222 points. Punjab National Bank was the eye-catcher among the banking stocks which closed higher by 3.66% at Rs 167 per share. The private sector bank stocks like HDFC Bank, ICICI Bank and Kotak Bank while the public-sector bank stocks like State Bank of India and Punjab National Bank were the top contributors to the Bank Nifty’s gains.

Reliance Industries, India’s largest conglomerate, has reported a 12.3 per cent rise in Q4 net profit which bouyed market sentiment. Private sector lender HDFC Bank last week reported a 18.2 per cent growth in net profit at Rs 3,990 crore for the March quarter.

At the time of market closing, the data available with the National Stock Exchange shows that the S Chand IPO got subscribed by 24% on its first day of subscription.

Swaraj Engines Ltd closed higher by 12.71% at Rs 1863.65 per share.

Nucleus Software Exports Ltd. closed higher by 9.58% at Rs 311.2 per share.

Cummins India Ltd. closed higher by 4.15% at Rs 1010 per share.

Apollo Hospitals Enterprise Ltd. closed higher by 4.08% at Rs 1216.5 per share.

The rupee was trading at 63.93 per US dollar.

Top 5 Nifty Gainers: M&M. (3.64%), ITC (3.48%), HINDALCO (3.05%),HINDUNILVR (1.98%) and HDFC (1.79%).

Top 5 Nifty Losers: TECHM (-2.90%), INFRATEL (-2.64%), ADANIPORTS (-2.63%), HCLTECH (-2.31%) and INFY (-1.64%)

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After consolidation, the market started inching towards its record highs on hopes of improvement in January-March quarter earnings that will begin with Infosys numbers on April 13.

With this rally, experts feel valuations already stretched and even a lot of midcaps are at peak levels. According to them, the earnings season is expected to be the only driver for the market from hereon.

NSE Nifty closed closed at 9203 levels down by 33 points or 0.36%, while BSE Sensex closed at 29643 levels down by 144 points or 0.49%.

Asian stock markets closed mixed on Wednesday, as tensions continue to ratchet up on the Korean Peninsula following a warning from North Korea of a nuclear attack (Subscription Required) on the U.S. The Hang Seng gained 0.93%, while the Nikkei 225 & the Shanghai Composite fell 1.04% and 0.46% respectively. European markets are higher today with shares in France leading the region. The CAC 40 is up 0.44% while Germany’s DAX is up 0.34% and London’s FTSE 100 is up 0.30%.

Bosch Limited was the top Nifty gainer and Tata Steel was the top Nifty loser. Bosch Limited closed higher by 3.7% at Rs 23600 per share and Tata Steel Limited closed lower by 2.2% at Rs 477.5 per share.

The broader market indices shown weakness in the Wednesday’s trade. BSE Mid-cap index closed lower by 0.22% at 14346 level while BSE Small-cap index closed lower by 0.49% at 14852 level.

Delta Corp Limited suffered losses in the Wednesday’s trade owing to the news of possible merger of union territory Daman & Diu with the state of Gujarat as reported in a national business daily. Market analysts believe that Prime Minister Narendra Modi might take decision regarding the same when he visits the union territory on April 17. The stock closed at Rs 168.9 per share down by nearly 6.7%.

Goa carbon touched its fresh 52-week high of Rs 156.9 per share up by nearly 19% owing to the company’s staggering profit in Q4 March 2017 as per BSE filings.

The FMCG heavyweight stock, ITC Limited touched its intraday high of Rs 285 per share in the lunch hours on Wednesday but slipped further to close at Rs 281.8 per share down by 0.12%.

Aditya Birla Fashion and Retail Ltd closed higher by 4.8% at Rs 179.15 per share.

Mangalore Refinery & Petrochemicals Ltd. closed higher by 4.5% at Rs 117.95 per share.

Apcotex Industries Ltd. closed higher by 11.5% at Rs 352.5 per share.

Adf Foods Ltd closed higher by 14.5% at Rs 202.35 per share.

There were 484 advances, 939 declines and 34 unchanged stocks on NSE reflecting fairly negative bias floating in the market.

The rupee was trading at 64.69 per US dollar.

Top 5 Nifty Gainers: Bosch Ltd. (3.75%), Bharti Infratel Ltd. (3.32%), Sun Pharma Ltd. (2.31%), Eicher Motors Ltd.  (1.70%) and Yes Bank (1.19%).

Top 5 Nifty Losers: Tata Steel (-2.16%), GAIL (-1.99%), Wipro (-1.99%), Hindalco Industries Ltd. (-1.99%) and Zee Entertainment Enterprises Ltd. (-1.96%)

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.