BrahMos WORLD INDIA MADHYA PRADESH BHOPAL WTN SPECIAL GOSSIP CORNER RELIGION SPORTS BUSINESS FUN FACTS ENTERTAINMENT LIFESTYLE TRAVEL ART & LITERATURE SCIENCE & TECHNOLOGY HEALTH EDUCATION DIASPORA OPINION & INTERVIEW RECIPES DRINKS BIG MEMSAAB 2017 BUDGET 2017 FUNNY VIDEOS VIRAL ON WEB PICTURE STORIES Mahakal Ke Darshan
WTN HINDI ABOUT US PRIVACY POLICY SITEMAP CONTACT US
N
W
T
logo
Breaking News

Global cues, profit booking subdue equity indices; banking stocks sink (Roundup)

Friday - August 10, 2018 7:38 pm , Category : BUSINESS
 Global cues, profit booking subdue equity indices; banking stocks sink (Roundup)
Global cues, profit booking subdue equity indices; banking stocks sink (Roundup)
Mumbai Aug 10 (IANS) Geo-political concerns over global protectionist measures
along with profit booking subdued the key indices of the Indian equity market on Friday.
According to analyst other key factors such as broadly negative global markets and heavy selling pressure in banking sector stocks pulled both the major equity indices lower.
Index-wise the Nifty50 of National Stock Exchange (NSE) closed at 11 429.50 down 41.20 or 0.36 per cent from its previous close.
Similarly the S&P BSE Sensex ended lower from its previous close. It closed at 37 869.23 points down 155.14 or 0.41 per cent from its previous close.
The barometer index touched a high of 38 051.45 points and a low of 37 815.75 points during the day s trade.
"Markets corrected on Friday as selling was seen through the day. The weakness came on the back of a fall in index pivotals like Reliance SBI and ICICI Bank " HDFC Securities Retail Research Head Deepak Jasani told IANS.
"Major Asian markets have closed on a negative note barring the Shanghai and Jakarta indices. European indices like FTSE 100 DAX and CAC 40 are trading in the red " Jasani said.
"Technically while the Nifty has corrected from life highs the underlying trend of the Nifty remains firmly up."
Geojit Financial Services Head of Research Vinod Nair said: "Bulls are taking a breather after consecutive days of rally as investors used this opportunity to book their profits due to weak global cues."
"PSU bank sunk on concerns of increasing provisions."
On the currency front the rupee weakened by 15 paise to 68.83 against the US dollar from its previous close of 68.68.
Investment-wise provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 510.66 crore while the domestic institutional investors bought stocks worth Rs 457.83 crore.
Sector-wise the S&P BSE consumer durable index rose 171.58 points the IT index was augmented by 72.65 points and the auto index ended higher by 61.99 points.
In contrast the S&P metal index declined by 266.52 points the S&P BSE banking index receded by 255.29 points followed by the capital goods index which was down 216.56 points.
The major gainers on the Sensex were Hero MotoCorp up 1.41 per cent at Rs 3 321.40; Mahindra and Mahindra up 1.26 per cent at Rs 945; TCS up 0.98 per cent at Rs 1 993.85; ITC up 0.94 per cent at Rs 304.70; Kotak Mahindra bank up 0.71 per cent at Rs 1 286.80.
The major losers were State Bank of India down 3.79 per cent at Rs 304.45; Sun Pharma down 3 per cent at Rs 553.60; Vedanta down 2.97 per cent at Rs 223.65; Tata Motors down 2.83 per cent at Rs 250.25; and Tata Motors (DVR) down 2.23 per cent at Rs 140.05 per share.
On the Thursday trade session foreign fund inflows along with domestic political developments lifted the Indian equity indices to their new record intra-day and closing highs.
Consequently the Sensex closed at a new record high of 38 024.37 points higher by 136.81 points or 0.36 per cent. It touched a record intra-day high of 38 076.23 points.
The wider NSE Nifty50 made a new closing high of 11 470.70 points higher by 20.70 points or 0.18 per cent. It had hit a fresh intra-day record high of 11 495.20 points.

--IANS ravi-rv/vm

RELATED NEWS