Sensex washes out Monday's gains, ends lower by 49 pts

7 Mar 2017

The S&P BSE benchmark sensex washed out Monday's gains, fell by 49 points to end below 29K level at 28,999.56 and NSE 50-share Nifty also dropped by 16.55 points to finish at 8,946.90 on mild profit-booking from operators amidst mixed global trend.
Anupam Singhi, COO of William O Neil India said," In today s session key indices retreated from yesterday s positive run, as investors were cautious of the upcoming poll outcome.
The sensex resumed higher at 29,092.16 and hovered in a range of 29,098.17 and 28,957.68 before ending at 28,999.56, showing a loss of 48.63 points or 0.17 per cent.
The NSE 50-share Nifty also declined by 16.55 points or 0.18 per cent to close at 8,946.90.
Meanwhile, foreign funds bought shares net Rs 564.15 crs yesterday as per the provisional figures issued by stock exchanges.
Overseas, Asian stocks witnessed a mixed trend amid weak closing on the Wall Street overnight. Key indices like China, Hongkong, Singapore, South Korea and Taiwan moved up by 0.26 pct to 0.57 per cent while Japan's Nikkei fell by 0.18 per cent.
US stocks registered modest losses on Monday as the chances of tighter monetary policy from the Federal Reserve sunk in for investors, while geopolitical concerns increased.
Federal Reserve Chairwoman Janet Yellen last Friday said that raising interest rates this month would likely be appropriate.
European stocks were trading lower amid expectations for a rate hike announcement in the US this month. Key indices like Germany and UK firmed up by 0.12 pct to 0.14 pct while France's CAC was quoted lower by 0.16 pct. .
The BSE Mid-Cap index provisionally rose 0.14 per cent. The BSE Small-Cap index provisionally advanced 0.03 per cent. Both these indices outperformed the Sensex.
The breadth, indicating the overall health of the market, was negative. On the BSE, 1,649 shares declined and 1,188 shares rose. A total of 172 shares were unchanged
Out of the 30-share Sensex pack, 20 scrips ended lower, while 10 scrips closed higher.
Major lossers were Tata Steel 2.22 per cent, Infy 1.37 per cent, lupin 1.36 per cent, Axis Bank 1.28 per cent, Maruti 0.85 per cent, Tata Motors 0.76 per cent, SBI 0.69 per cent, Hero Motoco 0.65 per cent, Sun Pharma 0.59 per cent and NTPC 0.57 per cent, while Adani Ports 1.97 per cent, ONGC 1.26 per cent, TCS 1.22 per cent, HDFC Bank 0.42 per cent and Wipro 0.40 per cent.
Among major indices, metal fell by 1.79 per cent followed by auto 0.50 per cent, teleccom 0.47 per cent, healthcare 0.47 per cent, realty 0.27 per cent and bankex 0.21 per cent, while oil&gas rose by 0.41 per cent followed by consumer durables 0.37 per cent and power 0.28 per cent.
The market breadth turned negative as 1,647 stocks ended lower, 1,185 closed higher while 177 ruled steady.
The total turnover on BSE amounted to Rs 2,932.97 crore, lower than turnover of Rs 2,988.44 crore registered during the previous trading session. (PTI)