Sensex, Nifty turn cautious ahead of US Federal policy outcome

Indian shares drop on global cues, poised for weekly fall

Indian shares drop on global cues, poised for weekly fall

The Bankex was down 0.13 per cent but the Finance Index was up 0.01 per cent. The US dollar fell in choppy trading.

The gauge lost 73.28 points in the previous session. Good Morning!Welcome to Business Standard's live blog on markets.

In the Asian region, Hong Kongs Hang Seng was down 1.28 per cent. Shanghai Composite Index edged lower by 0.32 per cent, Singapore fell 0.85 per cent, while the Nikkei in Japan remained closed for a holiday.

Top gainers were Kotak Bank, Maruti Suzuki, Hero MotoCorp, Hero MotoCorp, Bajaj Auto, RIL, Adani Ports, Dr Reddy's, L&T, Axis Bank, HDFC Bank and Sun Pharma, rising by up to 3.75 per cent.

Brokers said a weak trend in other Asian bourses as investors watched the outcome of trade talks between the United States and China, ahead of the April employment data to be released later in the day, influenced sentiments here.

Pharma stocks pushed both indexes lower, with the Nifty Pharma index falling as much as 1 percent.

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The market breadth was in favour of declines with about three shares falling for every two that rose on the BSE. The exchanges can shift to the new schedule from October 1. But it lost all those gains to close 2 percent lower.

Investors were cautious after a largely weak performance on Wall Street overnight as some disappointing earnings reports offset strong economic data, while bond yields slid after a surprising slowdown in euro zone inflation.

Mumbai-based real estate developer Godrej Properties has reported more than 2-fold increase in March quarter profit at Rs 141.5 crore YoY, driven by other income and higher revenue.

HCC shares bounced back and gained over 5 percent to close at Rs 18.45 after management commentary w.r.t the Lavasa issue.

PC Jeweller topped the value chart on the BSE with a turnover of Rs. 1,277.66 million.

On NSE, shares of the company went up by 3.77 per cent to close at Rs 1,256.85.

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