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Sensex pares some losses to reclaim 34K; Nifty above 10400

16 April 2018

The S&P BSE Mid-Cap index rose 81.19 points or 0.49 per cent to settle at 16,677.76.

Indian markets are expected to trade with a negative bias as tension in Syria escalates leading to a surge in crude oil prices.

India's exports dipped by 0.66 per cent to United States dollars 29.11 billion in March, even as they increased by 9.78 per cent for the full 2017-18 fiscal.

The US Dow Jones Industrial Average ended 0.50 per cent lower in Friday's trade.

The 50-share NSE Nifty too moved in a wide range on hectic selling and buying and finally closed 47.75 points, or 0.46%, higher at 10,528.35. Intra-day, it hovered between 10,396.35 and 10,540.15.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 399.59 crore on net basis, while domestic institutional investors (DIIs) sold equities to the tune of Rs 306.05 crore last Friday, provisional data showed.

In the Sensex kitty, Hero MotoCorp emerged best performer by surging 2.02 per cent, followed by Kotak Bank 1.88 per cent.

Other major losers were Tata Motors, Wipro, Axis Bank, ONGC, NTPC, RIL, Dr Reddy's SBI, Bharti Airtel, ICICI Bank, Maruti Suzuki, Asian Paint and Tata Steel, falling by up to 1.54 per cent.

Shares of Infosys, the country's second-largest IT services company, closed 3.3 percent lower after declining as much as 6 percent.

Tata Motors Ltd shares declined over 2% after a news report said that Jaguar Land Rover is planning to cut almost 1,000 jobs as it scales back production at some of its United Kingdom sites.

Healthy buying in healthcare and fast moving consumer goods (FMCG) stocks however restricted further losses.

Among other Asian markets, Hong Kong's Hang Seng shed 1.44%, while Shanghai Composite Index was down 1.05% in early trade.

Sensex pares some losses to reclaim 34K; Nifty above 10400