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Market Wrap: Quiet index but stock action galore

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      Market on Wednesday ended on a flat note for the second consecutive day. The 30-share index ended at 51,849, while the broader Nifty 50 index ended at 15,576 managing to cut their losses in late trade buying in the last hour.

      Nifty auto, metal, energy and PSU Bank indices rose 1-3 percent, FMCG and Tech sector were the main drag.

      Many stocks in midcap stocks in action today, Motherson Sumi rallied over 13% as profits soared nearly 3 times in the quarter gone by. PNB Housing Finance now up over 50% in 3 sessions as Carlyle steps in as controlling investor. Muthoot Finance was also a traders favorite up 8% on heavy volumes as profit rose 23% in Q4. The entire Adani pack continued to be on a roll in trade today.

      All eyes on RBI now as the MPC will deliver its policy on June 4, street is expecting strong commentary on inflation and also a possible downgrade on the GDP for the current financial year.



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