Sensex ends weak in listless trade, investors eye US Fed rate decision

Mumbai: Benchmark Sensex ended marginally lower at 29,895 in range-bound trade Wednesday, as investors kept their powder dry ahead of US Fed's rate decision.

Healthcare and oil & gas counters witnessed downward pressure, while buying in realty and IT stocks propped up the market.

The 30-share index resumed higher at 29,984.95 and quickly reclaimed the 30,000-mark to hit a high of 30,020.59. However, it retreated to 29,846.57 on profit-booking, before ending at 29,894.80, showing a loss of 26.38 points or 0.09 percent.

Reuters

Reuters

The gauge had inched up by 2.78 points in yesterday's trade.

The broader NSE Nifty too dipped by 1.85 points or 0.02 percent to 9,311.95 after moving between 9,346.30 and 9,298.40.

Markets are on a consolidation mode, with participants awaiting US Federal Reserve's rate announcement, brokers said.

"Despite better than expected quarterly results, the market is consolidating as investors are awaiting Fed's policy outcome later today," said Vinod Nair, Head of Research, Geojit Financial Services.

Domestic funds net bought shares worth Rs 541.39 crore, while foreign funds net sold stocks worth Rs 611.82 crore yesterday, as per provisional figures issued by stock exchanges.

Globally, markets in Japan and Hong Kong remained shut for a public holiday.

In Europe, London's FTSE slipped 0.20 percent, Frankfurt's DAX 30 eased 0.15 percent and Paris CAC 40 dipped 0.30 percent.

Back home, 17 scrips in the 30-share Sensex pack ended lower, while the remaining 13 closed with gains.

Major losers were Lupin (3.09 percent), HDFC (1.37 percent), ICICI Bank (1.16 percent), Tata Motors (1.11 percent) and Tata Steel (1.03 percent).

However, Power Grid rose 2.31 percent, TCS 1.98 percent, Infosys 1.59 percent, Coal India 1.49 percent and HUL 0.71 percent.

Among the S&P BSE sectoral indices, healthcare fell 0.98 percent and oil & gas 0.67 percent, while realty rose 1.54 percent, IT 1.40 percent and teck 0.94 percent.

The market breadth remained negative as 1,485 stocks closed in red, while 1,360 finished higher and 171 ruled steady.

The total turnover on BSE amounted to Rs 4,235.86 crore, higher than Rs 4,062.51 crore registered yesterday.


Published Date: May 03, 2017 06:30 pm | Updated Date: May 03, 2017 06:30 pm


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