Nifty holds 8400 amid pressure; Mindtree sinks 2%, Cipla jumps

Nifty holds 8400 amid pressure; Mindtree sinks 2%, Cipla jumps

Friday, January 20, 2017
Axis Bank
Benchmark indices continued to reel under selling pressure amid volatility as investors maintained cautious stance ahead of inauguration speech of Donald Trump as US President later today and after disappointing Axis Bank’s earnings.

The 30-share BSE Sensex was down 82.39 points at 27226.21 and the 50-share NSE Nifty fell 23.40 points to 8411.70.

Axis Bank tanked nearly 6 percent after reporting lower-than-expected earnings, though slippages were lower compared to analysts’ estimates.

Mindtree declined over 2 percent as earnings met analysts’ estimates, though operational performance was ahead of expectations.

Infosys, ICICI Bank, Tata Motors, Asian Paints and NTPC were under pressure while HDFC Bank, SBI, ITC, Cipla and Reliance Industries gained.

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