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Don’t use oaths, whether ‘by heaven’ or ‘by earth’ or by anything else. When you say yes or no let it be plain ‘Yes’ or ‘No’. –Matthew 5:34-37

22 Apr 2016


The BSE Sensex and the broader Nifty edged lower on Friday, tracking weak global cues. Asian shares also slid from a five-and-a-half-month high today, as disappointing earnings from US blue chip companies weighed on the rally that took off in March.

The BSE Sensex traded over 100 points or 0.40 per cent lower, while the Nifty slipped below the key 7,900 levels as of 09.20 a.m.

Selling was led by IT and banking stocks. Index heavyweight Infosys came under profit taking and slipped 1 per cent. The stock had risen sharply this week, boosted by strong sales forecast for FY17.

TCS and HCL Tech also traded lower, though Wipro traded with a positive bias. Wipro shares had slumped 7 per cent yesterday, after the IT major reported disappointing numbers in its Q4.
Earnings will continue to remain in focus as HDFC Bank and Reliance Industries will report their Q4 numbers today.
Tata Steel was the top Nifty gainer, rising nearly 2 per cent. On Thursday, the British government said it could take an equity stake of up to 25 per cent in Tata's UK steel assets. Tata Steel's UK assets have proved to be an overhang on the stock.


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