December 12, 2019
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Sensex Lower; Financials Decline, Metal Shares Gain
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The BSE Sensex edged down 0.06 per cent, while the Nifty is down 0.12 per cent.
Asian shares eased and the dollar firmed on 3 December as unexpectedly strong US factory activity bolstered expectations the Federal Reserve will soon trim its stimulus.
Financial shares fall on profit-taking after gaining in each of the previous three sessions. Axis Bank was down 0.7 per cent, while Housing Development Finance Corp was down 1.3 per cent.
However, steel makers continue to gain after encouraging manufacturing surveys in China and India on 2 December.
Jindal Steel and Power gains 3.7 per cent, while Hindalco Industries is up 3.1 per cent.
Maruti Suzuki gains 1 per cent on hopes imports of parts would be less costly after the yen hits a six-month low to the US Dollar. The auto maker sources a large portion of its parts from Japan.
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