March 21, 2018

Global cues drag equity indices lower; Nifty50 lowest in 3 weeks

14 November 2017, 07:54 | Brandon Parsons

Indian markets are likely to start Monday's session on a flat note

Indian markets are likely to start Monday's session on a flat note

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined.

The Sensex of the BSE, which opened at 32,990.03 points, traded at 33,006.73 points (at 1.50 p.m.), lower by 26.83 points or 0.08 per cent from the Monday's close at 33,033.56 points.

The Nifty registered day's high and low at 10,334.15 and 10,216.25 points, respectively. "The Nifty hit its lowest level in nearly three weeks", Jasani added.

On the currency front, the rupee closed flat at 65.42 against the U.S. dollar from its previous close.

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Besides, inflation at the wholesale level too rose to six-month high of 3.59 % in October as the prices of food articles rose. Indian Oil Corporation, Larsen and Toubro, Hindustan Petroleum Corporation and Vedanta also performed badly. "Global cues were not helping either amid uncertainty over USA tax reform, slow down in Chinese factory output and growing political issues in UK", Vinod Nair, Head of Research, Geojit Financial Services said.

Vinod Nair, Head of Research, Geojit Financial Services, said: "Volatility emerged as hopes of a near-term rate cut by the RBI has faded, given the spike in October CPI inflation to 3.58 per cent". Among the sub-indices, all sectors with the exception of Auto and Realty closed in the red.

On the other hand, the S&P BSE consumer durables index plunged by 361.51 points, followed by capital goods index by 290.22 points, and metal index by 269.28 points.

Share sale by foreign portfolio investors (FPIs) was worth a net Rs 233.58 crore yesterday, provisional data showed.

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