Sensex falls by 73.28 pts to 35,103.14 on brisk sell-off
Sensex falls by 73.28 pts to 35,103.14 on brisk sell-off
Business

Sensex falls by 73.28 pts to 35,103.14 on brisk sell-off

Pennews

The benchmark index of Bombay Stock Exchange (BSE) slipped on Thursday by 73.28 points to end negative at 35,103.14, reversing the last four day's winning streak, due to heavy selling in select stocks such as Realty, Capital Goods, IT, Teck, Infrastructure, FMCG, Consumer Durables and Oil & Gas amid weaker cues from global peers.

Similarly, the Nifty of National Stock Exchange (NSE) too declined by 38.40 points to 10,679.65. Unabated capital outflows by foreign funds and lower-than-expected quarterly numbers by InterGlobe Aviation and some other companies too added to the caution, brokers said. After opening higher, Sensex quickly slipped into the red largely in line with weak Asian cues. The Sensex recorded the day's high at 35,257.31 and low at 35,020.08 points, at the onset of the session. The Nifty also recorded day's high at 10,720.60 and low at 10,647.45 points, at the onset of the session.

The BSE Mid-Cap lost 1.16 per cent to 16,619.36 and Small-Cap fell 0.84 pc to 18,035.90. Both these indices underperformed the Sensex. The broad market depicted weakness with more than two losers against every gainer on BSE, as 1,848 shares declined against 817 advanced and 134 were unchanged.

Meanwhile, on a net basis, foreign institutional investors (FIIs) sold shares worth Rs 525.93 crore, while domestic institutional investors (DIIs) bought shares to the tune of Rs 165.84 crore in Wednesday's trade, provisional data showed. In overseas markets, European equities were trading lower as investors closely monitored trade talks between the US and China and digested new earnings reports.

Asian stocks fell after the US Federal Reserve reiterated plans to continue raising rates gradually amid firming inflation. MSCI's broadest index of Asia-Pacific shares outside Japan was all but flat, while South Korean stocks eased 0.31 per cent. Japan's Nikkei was closed for a holiday, while E-Mini futures for the S&P-500 barely budged.

Wall Street had wobbled on on May 2 as potential US restrictions on Chinese telecom companies reinforced investor concerns about worsening trade relations. The Dow ended down 0.72 per cent, while S&P-500 also lost 0.72 pc and Nasdaq 0.42 pc. US stocks fell on Wednesday, as investors assessed Federal Reserve's signal that it's in no rush to raise rates even as inflation rises to its target.

pennews
www.pennews.net