SEARCH
Quotes News NAV
Quick Review  Detailed News Markets  >  Equity  >  Detailed News
Brief reviews of the market.
Your Result on : Equity   |  News | Quick Review | Detailed News
Back
Market settles with modest losses
09-Nov-18   15:46 Hrs IST

Key benchmark indices settled with modest losses weighed down by selling pressure in index pivotals Reliance Industries and Infosys. The barometer index, the S&P BSE Sensex, lost 79.13 points or 0.22% at 35,158.55, as per the provisional closing data. The Nifty 50 index fell 13.20 points or 0.12% at 10,585.20, as per the provisional closing data. Sentiment was weighed down by negative global stocks.

Domestic stocks edged lower in early trade on negative Asian stocks. Stocks cut losses in morning trade. Indices extended intraday recovery with the Sensex and the Nifty regaining the positive zone in mid-morning trade. Key indices hovered in a small range near the flat line in early afternoon trade, alternately swinging between positive and negative zone. Indices reversed trend and were trading with modest losses in afternoon trade. Stocks hovered in negative zone in mid-afternoon. Indices traded with losses in late trade.

The S&P BSE Mid-Cap index rose 0.66%. The S&P BSE Small-Cap index rose 0.58%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1340 shares rose and 1197 shares fell. A total of 142 shares were unchanged.

Bharti Airtel (down 2.45%), TCS (down 1.7%), State Bank of India (down 1.27%), Tata Steel (down 1.23%) and ITC (down 1.04%) were the major Sensex losers.

Index heavyweight Reliance Industries dropped 1.55% to Rs 1,093.35

Index heavyweight and IT major Infosys lost 2.15% to Rs 661.45

Linde India jumped 20% to Rs 582.65 after the company's founder, the BOC Group, sought proposal to delist the company's equity shares from the stock exchanges. The BOC Group holds 6.39 crore equity shares, representing 75% of the paid up share capital of Linde India. The announcement was made during trading hours today, 9 November 2018.

Overseas, European shares declined, joining a global market retreat that spread from Wall Street to Asian markets after the Federal Reserve noted a dip in US business investment and suggested a rate hike was on track for December. Lingering worries over US-China trade relations also dented sentiment.

On the data front, China's consumer inflation remained at the second-highest level so far this year, buoyed by an acceleration in non-food prices, official data showed Friday. The consumer price index rose 2.5% in October from a year earlier, unchanged from the growth in September, the National Bureau of Statistics said.

US stocks closed mostly lower yesterday, 8 November 2018 as the Federal Reserve kept interest rates unchanged in an unanimous decision and signaled that it would continue to tighten monetary policy at a gradual pace. As expected, the Fed kept its benchmark target for rates unchanged in a 2% to 2.25% range.

Powered by Capital Market - Live News