Sensex, Nifty end marginally lower in weak trades on global cues; auto stocks falter

BSE market breadth was bearish -- with 1,366 declines and 1,266 advances

IANS June 21, 2017 18:05:20 IST
Sensex, Nifty end marginally lower in weak trades on global cues; auto stocks falter

Mumbai: After a volatile day of trade, the Indian equity markets on Wednesday closed on a flat but marginally red note as negative global cues, outflow of funds and heavy selling pressure in automobile, metal, and oil and gas stocks subdued investors' sentiments.

The wider Nifty of the National Stock Exchange (NSE) fell by 19.90 points, or 0.21 percent, to close at 9,633.60 points.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,302.18 points, closed at 31,283.64 points -- down 13.89 points, or 0.04 percent, from its previous close at 31,297.53 points.

The Sensex touched a high of 31,336.44 points and a low of 31,193.61 points during intra-day trade.

The BSE market breadth was bearish -- with 1,366 declines and 1,266 advances.

Sensex Nifty end marginally lower in weak trades on global cues auto stocks falter

Reuters

However, the broader market indices outperformed the Sensex. The S&P BSE mid-cap index was up 0.04 percent and the small-cap index by 0.11 percent.

"Markets ended with marginal losses on Wednesday after a volatile session. Negative global cues spoiled investors' sentiment," Deepak Jasani, Head - Retail Research, HDFC Securities, told IANS.

"Major Asian markets have ended on a mixed note. European indices like FTSE 100, CAC 40 and DAX traded lower."

On the currency front, the rupee weakened by 2-3 paise to 64.52-53 to a US dollar from its previous close of 64.50.

In investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold stocks worth Rs 152.82 crore, while domestic institutional investors (DIIs) divested scrips worth Rs 41.39 crore.

"The equity benchmarks closed in the negative, but it was rangebound in today's session with bears and bulls both gaining nothing. Lack of domestic or global cues confirmed the rangebound sentiment," said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.

"Inspite of rangebound market today, the turnover was more than yesterday (Tuesday). Airline stocks rose on expectations of lower jet fuel prices," he added.

Sector-wise, the S&P BSE automobile index declined by 159.37 points, the metal index by 135.94 points, and the oil and gas index by 118.32 points.

On the other hand, the S&P BSE FMCG index rose by 74.30 points, the realty index by 10.77 points and the capital goods index by 10.46 points.

Major Sensex gainers on Wednesday were: Hindustan Unilever, up 2.52 percent at Rs 1,123.70; Kotak Bank, up 0.85 percent at Rs 991; Sun Pharma, up 0.80 percent at Rs 528; Wipro, up 0.73 percent at Rs 255.90; and Maruti Suzuki, up 0.71 percent at Rs 7,266.35.

Major Sensex losers were: Tata Motors, down 2.11 percent at Rs 457.30; ONGC, down 2.10 percent at Rs 165.15; Lupin, down 1.63 percent at Rs 1,094.25; Adani Ports, down 1.58 percent at Rs 369.75; and Tata Consultancy Services, down 1.45 percent at Rs 2,406.05.

Updated Date:

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