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Nifty traded lower for major part of session to
snap three-day winning streak and closed in the red on May 29 ahead of the
expiry of May futures and options contracts on May 30. The index formed a
bearish candle on daily charts. Bank,
auto, and metal stocks suffered the deepest cuts.In the broader
market, the S&P BSE MidCap index slumped 126 points, to trade around 15,001
levels, while the S&P BSE SmallCap dipped 86 points, to end at 14,934.BUZZING
STOCKSLogistics stocks were in focus in early morning trade on
the BSE on Wednesday on the back of heavy volumes amid expectations of earnings
improvement. Adani Gas shares hit a new
high of Rs 174 before ending the day 2.6 per cent higher at Rs 167.45 on the
BSE on the back of strong numbers in March quarter results. In comparison, the
S&P BSE Sensex was up 0.65 per cent during the same period. Jubilant Life
Sciences shares continued to remain under pressure, hitting 33-month low of Rs
501.10, down 2.7 per cent on the BSE on Wednesday. The stock has fallen 19 per
cent in the past nine trading days, after reporting weak March quarter
earnings. The stock was quoting at its lowest level since August 29, 2016.
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