News Details

( 05/12/2018 16:48)
Post-Session: Sensex, Nifty end negative for 2nd straight session

Indian benchmarks extended losses for the second session on Wednesday by declining over 250 points on heavy selling in automobiles, banks, consumption, infrastructure, metals and pharma stocks amid weak global cues. Sentiment took a hit on weakness in other Asian and European markets following a sharp decline in long-term US Treasury yields and resurgent trade at Wall Street in overnight trade. Besides, outcome of the Reserve Bank of India meeting too failed to impress investors. The Monetary Policy Committee (MPC) kept interest rates unchanged at 6.50 per cent and 6.25 per cent respectively, but sharply cut the inflation targets for October-March.

Among sectors, the Metal index settled 3.7 per cent lower weighed by Jindal Steel and Power Hindalco and Tata Steel. Auto index, too, slipped 2.3 per cent due to a fall in Bharat Forge and Tata Motors. Bank fell 0.6 per cent dragged down by IndusInd Bank, YES Bank and ICICI Bank.

Overseas, European stocks were trading lower as resurgent trade worries worsened investor fears about global economic growth. Meanwhile, Equity markets in Asia declined on Wednesday, following a plunge on Wall Street as investors continued to be worried about an economic slowdown in the US.

The 30-share benchmark ended at 35884.41 down by 249.9 points or by 0.69 per cent, while the NSE Nifty was at 10782.9 down by 86.6 points or by 0.62per cent. During the day’s trade, Sensex touched intraday high of 36048.65 and intraday low of 35777.81 The NSE Nifty touched intraday high of 10821.05 and intraday low of 10747.95.

The top gainers of the BSE Sensex pack were Hindustan Unilever Ltd. (Rs. 1845.60,+2.07%), Housing Development Finance Corporation Ltd. (Rs. 1973.20,+1.75%), HDFC Bank Ltd. (Rs. 2099.45,+0.51%), Wipro Ltd. (Rs. 335.85,+0.40%), Reliance Industries Ltd. (Rs. 1154.85,+0.29%), among others.

The top losers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 413.60,-6.59%), Tata Steel Ltd. (Rs. 515.30,-4.27%), Tata Motors Ltd. (Rs. 92.50,-3.85%), Vedanta Ltd. (Rs. 198.45,-3.74%), Tata Motors Ltd. (Rs. 169.20,-3.70%), among others.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2891 , shares advanced were 879 while 1851 shares declined and 161 were unchanged.

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