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Sensex Ends Lower By 26 Points On Mild Selling Pressure
The Sensex ended power by 26 points to 29,894.80 and the NSE 50-share Nifty also moved down by mere two points to close at 9,311.95 due to selling pressure mainly in healthcare and refinery sectors amidst lower European cues and foreign capital outflows.
Photo Credit : Reuters
The S&P BSE benchmark Sensex ended power by 26 points to 29,894.80 and the NSE 50-share Nifty also moved down by mere two points to close at 9,311.95 due to selling perssure mainly in healthcare and refinery sectors amidst lower Euroepan cues and foreign capital outflows.
However,buying in Realty, IT and Teck sectors restricted the Sensex loss.
Foreign capital outflows also affected the market to some extent. They sold shares net Rs 611.82 crs yesterday as per the provisional figures issued by stock exchanges.
The Sensex resumed higher at 29,984.95 and hovered in a range of 30,020.59 and 29,846.57 before ending at 29,894.80, showing a loss of 26.38 or 0.09 per cent.
The NSE 50-share Nifty eased by 1.85 points or 0.02 per cent to close at 9,311.95.
Overseas, Asian stocks except China which moved down by 0.27 per cent other indices like Hong Kong, Japan, Singapore, South Korea and Taiwan firmed up by 0.14 per cent to 0.70 per cent.
US equities closed with small gains yesterday as investors awaited earnings from tech giant Apple.
European stocks were trading lower as investors digested the latest in Brexit negotiations and corporate earnings. Key indices like France, Germany and UK moved down by 0.18 per cent to 0.31 per cent.
Meanwhile, US-based credit rating agency, Fitch yesterday kept India's sovereign rating unchanged at 'BBB-', the lowest investment grade with stable outlook assigned to the country more than a decade ago citing weak fiscal position.
The leading rating agency, however, expects India's growth rate to accelerate to 7.7 per cent in fiscals 2017 and 2018, from 7.1 per cent in fiscal 2016.
Anupam Singhi, COO of William O'Neil India said," The benchmark indices moved directionless in today s session ahead of the US Federal Reserve s interest rate decision.
Further, investors awaited ICICI Bank's earnings update, that are due later today. After starting the session in green, volatility drove key indices from positive to negative territories and finally ended marginally lower.
Almost 17 scrips out of the 30-share Sensex pack ended lower while remaining 13 closed with gains.
Major losers from the Sensex pack were Lupin 3.09 per cent followed by HDFC 1.37 per cent, ICICI Bank 1.16 per cent, Tata Motors 1.11 per cent and Tata Steel 1.03 per cent.
However, PowerGrid rose by 2.31 per cent, TCS 1.98 per cent, Infosys 1.59 per cent, Coal India 1.49 per cent and HUL 0.71 per cent.
Among the S&P BSE sectoral indices, healthcare fell by 0.98 per cent and oil & gas 0.67 per cent while realty rose by 1.54 per cent, IT 1.40 per cent and teck 0.94 per cent.
The market breadth remained negative as 1,485 stocks closed in red, while 1,360 stocks finished in green and 171 ruled steady.
The total turnover on BSE amounted to Rs 4,235.86 crore, higher than turnover of Rs 4,062.51 crore registered yesterday.