Sensex lost 165.42 points today as investors factored in corporate earnings. Crisis over Ukraine too added to the negative sentiment.
The NSE Nifty too ended down 46 points or 0.68 per cent at 6,715.25,
Big losers on the NSE Nifty: Jindal Steel (Rs 249.80, -9%); Tata Steel (Rs 405, -4.8%); Hindustan Unilver (Rs 561, -3.36%). Tata Power and Hindalco were the other significant losers.
Ambuja Cement, Grasim, BPCL, ACC and Tech Mahindra were the top 5 gainers on the NSE Nifty.
According to Eqentis Capital Tecnical Outlook Report, Q4 March 2014 (year ended FY 2014) corporate earnings are likely to rule the market. "Profit booking at higher levels may increase volatility," it added.
Asian markets were mixed with Japan's Nikkei losing 141 points and Hong Kong's Hang Seng gaining 264.69 points.
European indices FTSE-100, DAX and CAC-40 were trading in the green.
Credit Suisse in a report today said that concerns over the risk of a rise in food inflation due to El Nino were overstated. “We believe that many observers overstate the risk of Asia’s food inflation surge from the effects of El Nino,” the report said, adding that over the past 20 years or so, only two of the four episodes saw El Nino coincide with a significant surge in both global and Asia’s food inflation.
Crude oil prices rose in Asian trade today as the West slapped fresh sanctions on Russia over its actions in Ukraine, although gains were capped as the measures were seen as less aggressive than expected.
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