Tuesday, 25 September, 2018

Sensex down 95 pts, Nifty below 10750 in late morning trade

Indian stock brokers keep watch on the key Sensex share index graph in a brokerage firm in Mumbai Indian stock brokers keep watch on the key Sensex share index graph in a brokerage firm in Mumbai
Jay Anderson | 18 May, 2018, 16:14

The rupee weakened by 17 paise to 67.87 against the USA dollar in early trade at the interbank forex market.

Stocks suffered modest losses as Brent crude oil prices moved nearthe Dollars 80 per barrel mark as supplies tightened and demand remained strong.

"Market traded in a negative bias despite gains in rupee while investors' focus is now shifting to earnings after the State election dilemma".

On Tuesday, none of the major political parties were able to achieve a clear majority in the Karnataka assembly elections, leading to political uncertainty. National Stock Exchange (NSE) benchmark index Nifty shed 26 points to touch 10,655 in early morning deals.

The BSE Sensex was down 59.51 points at 35,089.61 and the NSE Nifty fell 17.90 points to 10,664.80. Declines were led by banking, IT and infra shares.

The BSE Sensex, which opened at 35,537.85 points, was trading at 35,687.76 points (1.12 p.m.), higher by 131.05 points or 0.37 per cent from the previous day's close at 35,556.71 points. The 30-share index fell by 125.10 points, or 0.35 per cent, to 35,024.02 in the opening trade.




Other laggards were Sun Pharma, Tata Motors, Tata Steel, Wipro, Maruti Suzuki, ONGC, Coal India, M&M, Adani Ports, Axis Bank, Bharti Airtel, Reliance Industries, NTPC, HDFC Ltd, HDFC Bank, Power Grid, Dr Reddy's and Infosys, falling up to 3.21 per cent.

Foreign portfolio investors (FPIs) net sold shares worth Rs 830.94 crore, while domestic institutional investors (DIIs) bought equities to the tune of Rs 428.92 crore yesterday, as per provisional data.

On the other hand, consumer durables rose 1.37%, realty 0.41%, infrastructure 0.28%, capital goods 0.24% and oil and gas 0.08%.

Japan's Nikkei was up 0.2 per cent.

The US Dow Jones Industrial Average, however, ended 0.22 percent down in Thursday's trade.

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