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Sensex drops over 150 pts on weak macro cues

Press Trust of India  |  Mumbai 

The ended over 150 points lower Monday on heavy selloff by foreign investors after industrial output growth data dropped to a 17-month low.

After a volatile session, the 30-share index settled 156.28 points, or 0.43 per cent, down at 35,853.56, while the broader NSE Nifty fell 57.35 points, or 0.53 per cent, to finish at 10,737.60.

The fall was led by L&T, IndusInd Bank, PowerGrid, NTPC, TCS, ICICI Bank, Axis Bank, Hero MotoCorp, and SBI, declining up to 2.64 per cent.

On the other hand, was the biggest gainer on Sensex, rallying up to 6.22 per cent, on reports that the lender had shortlisted its and a of a to succeed long-serving Officer

was also among the top gainers, rising 2.58 per cent, after the company Friday said it will buyback shares worth up to Rs 8,260 crore and offer shareholders a special dividend of Rs 4 per share as part of the company's Rs 13,000 crore-capital allocation policy.

Other gainers include, Sun Pharma, Bajaj Finance, and Tata Motors, rising up to 1.68 per cent.

According to experts, overall investor sentiment was weak after the government on Friday released the industrial output growth numbers, which dropped to a 17-month low of 0.5 per cent in November on account of contraction in manufacturing sector, particularly consumer and capital goods.

On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 687.20 crore Friday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 123.17 crore, provisional data available with BSE showed.

On the macro front, the rupee depreciated 32 paise to 70.81 against the US dollar.

Brent crude futures were trading 1.49 per cent lower at USD 59.58 per barrel.

Elsewhere in Asia, Korea's fell 0.53 per cent, Shanghai Composite Index slipped 0.71 per cent, and Hong Kong's Hang Seng dropped 1.38 per cent. While, Japan's Nikkei jumped 0.97 per cent.

In Europe, Frankfurt's DAX was down 0.55 per cent, Paris CAC 40 fell 0.77 per cent, and London's FTSE shed 0.73 per cent.

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

First Published: Mon, January 14 2019. 16:15 IST
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