ALSO READNifty ends below 10,500, Sensex down nearly 300 pts; PSU bank index dips 2% Sensex ends 141 pts higher, Nifty settles at 10,397 levels; IT stocks rise Sensex ends 137 pts down, Nifty at 10,458 levels; PSU banks fall Sensex slips 162 points, Nifty below 10,500 on fiscal deficit concerns Sensex rises 323 pts, Nifty closes at 10,491; Metal, Pharma stocks rally
Market Analysis for Tuesday, 6th March 2018 by Jayant Manglik, President, Religare Broking The equity benchmark indices started the day on a strong note, following positive global cues. However, it failed to sustain at higher levels, as the Nifty index slipped from an intra-day high of 10,441 to end the session sharply lower at 10,249 levels, down 1.1%. The broader market indices ‘BSE- Midcap and Smallcap’ also registered a sharp fall, closing the session with losses of 0.8% and 1.3% respectively. Barring Consumer durables, which closed marginally higher, all the other sectoral indices closed on a negative note with Auto, Banks, Capital Goods, FMCG and IT being the major losers. Market rundown by Vinod Nair, Head of Research, Geojit Financial Services: Market gave up gains despite positive trade in global market. Consolidation continues led by broad selling across all sector. Market has broken yesterday’s low while banks continue to struggle due to NPA issue, higher bond yield & cost of funds. Investors are little nervous to start accumulating and are waiting for major triggers to get direction." Nifty Bank index drags, falls for fifth straight session Nifty Realty index falls over 2% Sectoral Trend Sensex heatmap
The domestic indices pared early morning gains to end over 1% lower on Tuesday.
The S&P BSE Sensex ended the day at 33,317, down 430 points, while the broader Nifty50 index settled at 10,249, down 110 points.
Asian share regained some ground on Tuesday after US President Donald Trump faced growing pressure from political allies to pull back from proposed steel and aluminum tariffs, easing investor worries about an imminent trade war.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.5 per cent, snapping five straight days of losses, while Japan’s Nikkei jumped 1.8 per cent from a five-month low.
(with inputs from Reuters)