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Sensex ends 227 points lower, Nifty dips below 10,250 on inflation fears

All that happened in Tuesday's trade

SI Reporter  |  New Delhi 

MARKETS LIVE: Sensex, Nifty, WPI, inflation, BJP, Gujarat elections, Asia

Vinod Nair, Head of Research, Geojit Financial Services     Profit-booking on the broader indexes capped the previous day’s gain as rising oil price casts caution over the inflation trajectory. Rate sensitive stocks underperformed ahead of today’s economic data CPI inflation & IIP. Mixed trend in global market ahead of two days of US Fed meet also slowed down the domestic sentiment. Nikhil Kamath, Co-Founder and Head of Trading, Zerodha   Markets opened slightly higher in trade on Tuesday, constant selling through the session took the indices lower to close with losses of close to one percent. Banking stocks underperformed with Bharti Infratel, TataPower, BPCL, IOC being the worst performers of the session, with crude prices rallying on the back of the North sea pipeline outage.   The issue inherently is that we are constantly underperforming our global peers and prices seem to have run up without the underlying fundamentals catching up yet.   We continue to maintain a negative outlook and advocate holding shorts at the current juncture. Sensex heatmap at close  Source: BSE Markets at close The S&P BSE Sensex ended at 33,227, down 227 points, while the broader Nifty50 settled at 10,240, down 82 points. S&P BSE SENSEX 33,227.99 -227.80 -0.68   S&P BSE SENSEX 50 10,692.83 -75.98 -0.71   S&P BSE SENSEX Next 50 35,410.92 -426.71 -1.19   S&P BSE 100 10,717.78 -84.78 -0.78   S&P BSE Bharat 22 Index 3,688.35 -32.94 -0.89 Source: BSE Sectoral trend in last leg of trade  Source: NSE Repro India dips 8% post Q2 results   Repro India has dipped 8% to Rs 793 on the BSE in noon deal after the company reported a 85% year on year decline in consolidated net profit at Rs 2.54 crore in September quarter (Q2FY18), due to lower operational income and higher other expenses. It had profit of Rs 17.42 crore in year ago quarter. READ MORE

The benchmark indices settled lower on Tuesday on concerns that higher global crude oil prices would stoke and impact future interest rate decisions by the Reserve Bank of India (RBI), with oil marketers and bank stocks weighing on the Nifty50.

Brent crude oil, the international benchmark for oil prices, jumped above $65 per barrel for the first time since 2015 after the shutdown of the Forties North Sea pipeline knocked out significant supply from a market that was already tightening due to OPEC-led production cuts.

The Bank index fell as much as 1% after gaining 2.2% in the last three sessions. Oil marketers Hindustan Petroleum Corporation, Bharat Petroleum Corporation and Indian Oil Corp lost as much as 2-3%.

Overseas, Asian shares took a small step back on Tuesday after three straight sessions of gains, with consolidating in the hope an upswing in global growth could outlast a likely hike in US borrowing costs this week.

First Published: Tue, December 12 2017. 15:36 IST
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Sensex ends 227 points lower, Nifty dips below 10,250 on inflation fears

All that happened in Tuesday's trade

All that happened in Tuesday's trade
The benchmark indices settled lower on Tuesday on concerns that higher global crude oil prices would stoke and impact future interest rate decisions by the Reserve Bank of India (RBI), with oil marketers and bank stocks weighing on the Nifty50.

Brent crude oil, the international benchmark for oil prices, jumped above $65 per barrel for the first time since 2015 after the shutdown of the Forties North Sea pipeline knocked out significant supply from a market that was already tightening due to OPEC-led production cuts.

The Bank index fell as much as 1% after gaining 2.2% in the last three sessions. Oil marketers Hindustan Petroleum Corporation, Bharat Petroleum Corporation and Indian Oil Corp lost as much as 2-3%.

Overseas, Asian shares took a small step back on Tuesday after three straight sessions of gains, with consolidating in the hope an upswing in global growth could outlast a likely hike in US borrowing costs this week.
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Business Standard
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Sensex ends 227 points lower, Nifty dips below 10,250 on inflation fears

All that happened in Tuesday's trade

The benchmark indices settled lower on Tuesday on concerns that higher global crude oil prices would stoke and impact future interest rate decisions by the Reserve Bank of India (RBI), with oil marketers and bank stocks weighing on the Nifty50.

Brent crude oil, the international benchmark for oil prices, jumped above $65 per barrel for the first time since 2015 after the shutdown of the Forties North Sea pipeline knocked out significant supply from a market that was already tightening due to OPEC-led production cuts.

The Bank index fell as much as 1% after gaining 2.2% in the last three sessions. Oil marketers Hindustan Petroleum Corporation, Bharat Petroleum Corporation and Indian Oil Corp lost as much as 2-3%.

Overseas, Asian shares took a small step back on Tuesday after three straight sessions of gains, with consolidating in the hope an upswing in global growth could outlast a likely hike in US borrowing costs this week.

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Business Standard
177 22