You are here: Home » Markets » News
Business Standard

Sensex slips 152 points, Nifty closes at 10,303; Bharti Airtel top loser

All that happened in today's trade

SI Reporter  |  New Delhi 

markets

Anand James, Chief Market Strategist, Geojit Financial Services    Volatility continued in the market and domestic indices extended losses as investors continued to book profits from the recent outperformers with DIIs also remaining on the sell mode this month so far. But pharma and IT sectors provided some respite backed by weak rupee and firm US equity market may now shift its focus onto PM Donald Trump's tax relief programmes and IIP and inflation numbers to be released later in the week. Sctoral trend: Nifty PSU Bank biggest sectoral loser  Source: NSE Sensex heatmap at close Source: BSE Markets at close The S&P BSE Sensex ended at 33,218, down 152 points, while the broader Nifty50 closed at 10,303, down 47 points. Buzzing stock   Manappuram Finance lost over 4% to Rs 94 on BSE after the company's consolidated net profit fell 16.64% to Rs 160.37 crore on 1.07% decline in total revenue to Rs 839.80 crore in Q2 September 2017 over Q2 September 2016. Broader markets underperform  The BSE Midcap and the BSE Smallcap indices slipped 1% each in last leg of trade. 

The benchmark indices extended losses in last leg of trade to settle lower on Wednesday as Reliance Industries fell on oil price worries, while Bharti Airtel slumped after a key investor sought to exit.

Crude slipped on Wednesday, but hovered near two-and-a-half year highs hit earlier this week, potentially stalling a record-setting rally in domestic market on concerns Reserve Bank of India (RBI) would hold off on cutting interest rates.

Globally, Asian shares paused at decade peaks and the dollar dipped amid concerns that the Republican plans for major US tax cuts were running into headwinds even before the Senate releases its own version of the proposals.

First Published: Wed, November 08 2017. 15:33 IST
RECOMMENDED FOR YOU

Sensex slips 152 points, Nifty closes at 10,303; Bharti Airtel top loser

All that happened in today's trade

The benchmark indices extended losses in last leg of trade to settle lower on Wednesday as Reliance Industries fell on oil price worries, while Bharti Airtel slumped after a key investor sought to exit.

Crude slipped on Wednesday, but hovered near two-and-a-half year highs hit earlier this week, potentially stalling a record-setting rally in domestic market on concerns Reserve Bank of India (RBI) would hold off on cutting interest rates.

Globally, Asian shares paused at decade peaks and the dollar dipped amid concerns that the Republican plans for major US tax cuts were running into headwinds even before the Senate releases its own version of the proposals.

image
Business Standard
177 22