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After 9-day winning spree, Sensex ends negative
After 9-day winning spree, Sensex ends negative
Business

After 9-day winning spree, Sensex ends negative

Pennews

The BSE Sensex fell on Wednesday by 63.38 points to end negative at 34,331.81, reversing the winning streak of past nine days, due to profit booking by retail investors and outflow of foreign funds despite positive global cues.

Heavy selling was seen in Consumer Durables, Banking and Oil & Gas stocks. Similarly, NSE Nifty shed by 22.50 points to 10,526.20, after hitting the day’s high at 10,594.20 and low at 10,509.70.

After opening higher at 34,443.42, the Sensex hit intraday high of 34,591.81 as domestic institutional investors and retail investors went on buying spree. However, investors preferred to lock in gains towards the fag end of the session, with the benchmark finally closing at 34,331.68, down by 63.38 points as compared to its last close.

Sensex had risen 1,375.99 points during the past nine sessions, while Nifty had gained 420.30 points during the period. The BSE Mid-Cap eased 0.07 per cet to 16,768.05, outperforming the Sensex. Small-Cap dropped 0.37 pc to 18,065.75, underperforming the Sensex. The market breadth was negative on BSE, as 1,522 shares declined and 1,135 advanced while 152 were unchanged.

In overseas markets, European stocks were trading higher as investors monitored a fresh batch of corporate earnings and economic data. Asian shares crept ahead on Wednesday after Wall Street took heart from upbeat corporate earnings, though nagging concerns about trade barriers and the global growth outlook kept currencies and bonds subdued. Japan's Nikkei climbed 1.2 pc.

US stocks rallied on Tuesday amid better-than-expected earnings from industry heavyweights, adding to evidence that the strengthening economy is lifting corporate profits. The Dow Jones ended Tuesday up 0.88 pc, while the S&P-500 rose 1.06 pc and the Nasdaq 1.78 pc. (UNI)