Sensex closes below 35,000, Nifty falls by 61.40 points; JSW Energy slumps

Benchmarks extended their slide for the second session on Friday, suffering their first weekly drop in six, as lacklustre global cues and less-than-stellar earnings compelled investors to unwind bets.

The BSE Sensex tumbled over 188 points to close at 34,915.38, while the Nifty shed 61.40 points to 10,618.25 on across-the-board selling.
 

Barring BSE Consumer Durables, all other sectoral indices ended in the red. Unabated foreign fund outflows and a weak rupee added to the gloom, brokers said.

The BSE 30-share barometer opened higher at 35,144.96 and advanced to 35,206.55 in morning trade on value-buying in recently battered stocks.
 

However, profit booking at every rise pulled it down to a low of 34,847.61. It finally finished at 34,915.38, down 187.76 points or 0.53 per cent. This is its weakest closing since April 26, when it had settled at 34,713.60.

The wider NSE Nifty, too, fell by 61.40 points or 0.57 per cent to end at 10,618.25. It shuttled between 10,700.45 and 10,601.60 during the session.
 

On a weekly basis, the benchmarks recorded their first weekly drop in six. The Sensex lost 54.32 points, or 0.16 per cent, while the Nifty dropped 74.05 points, or 0.69 per cent during the week.

Meanwhile, foreign institutional investors (FIIs) net sold shares worth Rs 1.4842 billion and domestic institutional investors (DIIs) sold shares worth Rs 5.7892 billion in Thursday’s trade, provisional data showed.

Shares of PC Jeweller surged 43.72 per cent after the company on Thursday denied reports that the CBI had arrested its owner.
 

JSW Energy shares slumped 7.66 per cent after the company reported a consolidated net loss of Rs 4.83 billion for the quarter ended March 31.
 

Hexaware Technologies too plunged 14.15 per cent after it reported lower-than-expected earnings.

In the Asian region, Hong Kong's Hang Seng was down 1.28 per cent. Shanghai Composite Index edged lower by 0.32 per cent, Singapore fell 0.85 per cent, while the Nikkei in Japan remained closed for a holiday.

In the Eurozone, Paris CAC 40 fell 0.21 per cent while Frankfurt's DAX was higher by 0.25 per cent in early deals. London's FTSE too was up 0.41 per cent. 

BSE Q4 PAT remains flat

The BSE reported net profit of Rs 621 million for the quarter ended March 2018, up 3 per cent over the corresponding quarter of the previous year and six per cent over the preceding quarter. The exchange's revenues rose 19 per cent to Rs 1,366 million for the March 2018 quarter. 

BSE's average daily turnover (ADT) in the cash segment decreased by 31 per cent year-on-year to 

Rs 47 billion during the quarter. 

Its currency derivatives segment reported 77 per cent jump in ADT to Rs 216 billion. Its subsidiary, India International Exchange, reported ADT of $240 million for the quarter. For FY18, BSE reported 28 per cent yoy growth in revenues to Rs 4.8 billion.

BS Reporter