Sensex ends lower by 30 pts, Nifty below 8,1501

Mumbai
16 Dec 2016

Market continued to tread in sluggish phase for the third consecutive day by declining 29.51 points to conclude at 26,489.56, and the broader Nifty marked below the key 8,150-level as investors struggled with US Federal Reserve rate hike and hawkish outlook.

The Initial brief spell of shortcovering gains were clipped following intense volatility, while momentum turned range-bound and lacklustre as investors looked for definite direction for doing business.

Sentiment were dampened by concern over heavy capital outflows from emerging markets in the event of hawkish tone set by US Federal Reserve next year along with domestic demonetization drive and money supply kept the investor at bay.

Moreover, widening trade deficit which stood USD 13 billing in November from USD 10.41 billion in October this year owing to imports outpacing exports treaded negativity.

However postive goods exports growth by USD 20 Billion were sidelined.

led Metal, Telecom, Oil&Gas, FMCG, Bankex, Power, and Utilities witnessed selling pressure, while Consumer Durables, IT, Auto, Teck and Industrial saw buying interest.

The secondline shares showed lacklustre trade.

The 30-share barometer started opened positive at 26,548.67, hovered between 26,594.55 and 26,455.21 before closing at 26,489.56, showing a loss of 29.51 points, or 0.11 per cent.

The gauge had lost 178.75 points in last two previous sessions.

The NSE Nifty declined 14.15 points, or 0.17 per cent, at 8,139.45. Intra-day, it hovered between 8,178.70 and 8,127.45.

Meanwhile, Foreign investors sold shares worth Rs 611.97 crore on Thursday, showed provisional data.

Stockwise, major losers included BhartiAirtel, ONGC, ICICI Bank, AdaniPorts, ITC and HeroMotoco.

While, Tata Motors, Cipla, Infy, TCS and Maruti gained.

Globally, European and Asian market witnessed a mixed trend, key index's China, Hongkong, Singapore, South Korea and Japan gained by 0.17 per cent to 0.66 per cent.

While, London FTSE, Germany Dax and France CAC were trading lower at 0.01 per cent to 0.21 per cent. (PTI)