Stocks

Sensex closes lower by 54 points, Nifty ends flat

Our Bureau Agencies Mumbai | Updated on January 15, 2018 Published on November 01, 2016

sensex

The benchmark BSE index Sensex ended marginally lower, dragged down by losses in technology stocks, which offset gains in financial and auto shares as investors braced for key corporate results announcements later in the week.

The 30-share BSE index Sensex ended lower by 53.6 points or 0.19 per cent at 27,876.61, while the NSE index Nifty closed up by 0.55 point or 0.01 per cent at 8,626.25.

Among BSE sectoral indices, metal index gained the most by 3.34 per cent, power 0.66 per cent, infrastructure 0.54 per cent and PSU 0.47 per cent. On the other hand, IT index was down 1.19 per cent, consumer durables 1.1 per cent, TECk 1.06 per cent and healthcare 0.83 per cent.

Top five Sensex gainers were Tata Steel (+3.23%), HDFC (+2.59%), NTPC (+2.48%), Coal India (+1.18%) and PowerGrid (+1.14%), while the major losers were Axis Bank (-2.53%), TCS (-1.96%), Sun Pharma (-1.92%), Infosys (-1.36%) and Cipla (-1.09%).

“For consumer consumption, consumer durables and FMCG, good monsoon, discretionary spending going up and pay commission are good triggers that will continue to drive markets,” said Gaurang Shah, vice president, Geojit BNP Paribas Financial Services.

Meanwhile, the Nikkei India Manufacturing Purchasing Managers’ Index rose to a 22-month peak of 54.4 in October, indicating a sharp uptick in industrial activity.

Also, infrastructure sector recorded a growth rate of 5 per cent in September, the highest in three months on account of healthy performance by cement, steel and refinery products.

Global markets

European shares rose on Tuesday and were on track to snap a six-session losing streak with Shell providing the biggest boost to the index following forecast-beating results.

Stronger-than-expected factory growth in China helped Asian stocks erase early losses on Tuesday, but investors remained cautious as the acrimonious US presidential election campaign entered its final week.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent, after earlier hitting its lowest level since September 19. October marked the first monthly loss for the index since May.

The market is also watching global cues, with the US Federal Reserve's meeting set to begin on Tuesday, which could provide clues on a December rate hike.

The Bank of Japan on Tuesday held off on expanding stimulus and maintained short-term interest rate target, while the Reserve Bank of Australia will issue its policy decision later in the day.

Published on November 01, 2016

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
null
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.