ibusinesslines.com
ibusinesslines.com November 17, 2017


Markets keep losing steam as Sensex closes further 100 points down

14 November 2017, 07:56 | Jodi Jackson

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

The broader 50-issue NSE Nifty dropped 38.35 points, or 0.38 %, to close at 10,186.60 after shuttling between 10,248 and 10,175.55.

The markets opened in the red on Tuesday before regaining the 33,000-mark for a brief period in intra-day trade, following which the indices plunged once again in the last hour to close on a negative note.

The BSE market breadth was bearish - 1,556 declines and 1,141 advances.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 32,941.87 points - down 91.69 points or 0.28 per cent - from Monday's close.


On Monday, India's retail inflation picked up in October to a seven-month high, driven by faster rises in prices of food and fuel products, dampening chances of an interest rate cut by the central bank next month.

The top gainer on both indices was Hero MotoCorp, whose share prices rose 2.1% on the Nifty and 1.96% on the Sensex. It was followed by Kotak Mahindra Bank (Rs. 980.56 million), Just Dial (Rs. 236.72 million) and Axis Bank (Rs. 175.49 million).

According to market observers, heavy selling pressure in index heavyweights like Larsen and Toubro, Power Grid, Tata Consultancy Services and Sun Pharma, among others, added to the downward trend of the indices. On the Nifty50, Bharti Infratel Limited, whose share prices fell by 4.99%, was the biggest loser.

On the currency front, the rupee weakened by 26 paise to close at 65.42-43 against the U.S. dollar from its previous close at 65.16-17.



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