Friday, 14 December, 2018

Key Indian equity markets end lower

At 10:55 am the Sensex was at 34,203.10 down 143.29 points while the Nifty 50 was at 10,504.15 down 50.15 At 10:55 am the Sensex was at 34,203.10 down 143.29 points while the Nifty 50 was at 10,504.15 down 50.15
Nellie Chapman | 04 March, 2018, 15:41

Shares of Bajaj Auto added 1.7% and were the top gainers on Nifty50 after the company reported a 31% on-year rise in total February sales. Growth in China's manufacturing sector unexpectedly picked up to a six-month high in February.

Mumbai: Market benchmark BSE Sensex pared initial gains, shedding 68.70 points in late morning trade on mild bouts of selling in IT, power, utilities, banks, healthcare, financials, metal, consumer durable and metal sectors amid mixed Asian cues.

The 30-share barometer settled at 34,046.94, down 137.10 points, or 0.40 per cent as its 20 constituents led by ICICI Bank and SBI ended in the red.

Similarly, the wider Nifty50 of the National Stock Exchange (NSE) edged lower during the trade session.

BSE FMCG (0.08%) and BSE Oil and Gas (0.10%) were the only sectors in that ended in the green zone in NSE.

"Markets traded tiresome and ended lower amid mixed local cues".

A better-than-expected GDP data failed to cheer the street and India's equity markets slipped for the third straight session, ending the holiday-shortened week on a weak note.

Back home, fiscal deficit touched Rs 6.77 lakh crore at the end of January, 113.7 per cent of the target for the entire fiscal, on account of higher expenditure.

Asian markets broadly closed with losses, extending a global sell-off on United States interest rate hike fears. US Fed chief Jerome Powell who painted a rosy picture about the US economy and hinted at future rate hikes before the Congress was set to speak on Capitol Hill again on Thursday.

Amid the multi-agency probe into the PNB scam, the state-run bank yesterday said the amount of fraudulent transactions could be Rs 1,300 crore more than the current estimate of about Rs 11,400 crore.

In the broader market, the BSE Smallcap index outperformed, gaining 0.3 per cent, while the BSE Midcap index was down 0.2 per cent. Market breadth, indicating the overall health of the market, turned positive. Hong Kong's Hang Seng edged up 0.6 percent to 31,035.98, while the Shanghai Composite edged up 0.4 percent to 3,273.76.

In Europe, Frankfurt's DAX 30 fell 0.50%, while Paris CAC 40 down 0.25% in their early deals. Britain's FTSE 100 was down 0.2 percent at 7,216.16.