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Oil, rupee fail to cheer markets as investors turn wary ahead of polls

IANS  |  Mumbai 

Key equity indices settled lower on Friday despite a sharp rebound in the domestic currency and a decline in global oil prices, as investors turned cautious ahead of key state assembly elections this month and the next.

The rupee climbed 36 paise to Rs 72.64 per US dollar, prompting investors to sell export-dependent stocks. The BSE IT fell 1.12 per cent.

Metals, realty and also came under a heavy selling pressure.

However, the financials managed to cling on to their gains, howsoever meagre.

The Brent also slipped below the $71 a barrel mark.

"The Brent hit a 7-month low of $70.07 a barrel earlier today," Anuj Gupta, Deputy Vice President, told IANS.

"The market is lacklustre due to a lack of FII inflow and uncertainty ahead of elections," he added.

The Sensex fell 79.13 points to 35,158.55. It had opened at 35,258.13 from its previous close of 35,237.68.

It touched an intra-day high of 35,287.29 and a low of 35,011.23.

The NSE Nifty closed 15 points lower at 10,582.90.

--IANS

ravi/shs

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 09 2018. 15:52 IST
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