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Sensex dives 284 points on global cues; markets cautious over GST

Extending downward trend for the fourth session, benchmark BSE Sensex plunges over 284 points to end at a three-week low of 27,697.51 and NSE Nifty cracked below the 8,600-mark on lacklustre global cues and a caution ahead of the decision on the landmark GST bill.


Sensex dives 284 points on global cues; markets cautious over GST

Mumbai: Extending downward trend for the fourth session, benchmark BSE Sensex plunges over 284 points to end at a three-week low of 27,697.51 and NSE Nifty cracked below the 8,600-mark on lacklustre global cues and a caution ahead of the decision on the landmark GST bill.

Market sentiment was weighed down by weakness prevailing across global markets as Japan's economy-boosting stimulus package disappointed investors. Investors started cutting down their bets amid caution over passage of the long-pending GST bill in the Rajya Sabha, which has been moved for a consideration today.

The BSE Sensex resumed higher, but profit booking later on dragged it down to the negative zone, which ended lower by 284.20 points, or 1.02 percent, at 27,697.51, its lowest level since July 11. It had fallen by 604.651 points on June 24, 2016.

The gauge had lost 226.89 points in the previous three sessions.

The 50-share NSE Nifty shed 78.05 points, or 0.91 percent, to end well below the 8,600-mark at 8,544.85, after moving between 8,635.45 and 8,529.60.

As many as 25 Sensex stocks closed with losses, including Tata Motors, ITC Ltd, Maruti Suzuki, Power Grid, L&T, Reliance Industries, Hindustan Unilever, Lupin, Bajaj Auto, ICICI Bank, TCS, HDFC Ltd and Dr Reddy's.

However, Cipla, Asian Paints, Sun Pharma and Coal India notched up gains, which capped the fall.

Among sectoral indices, realty suffered the most by falling 2.15 percent, followed by FMCG 2.04 percent, capital goods 1.74 percent, consumer durables 1.73 percent, power 1.71 percent and auto 1.70 percent.

The broader markets too remained under pressure, with the BSE mid-cap index declining 1.50 percent and the small-cap index shedding 1.14 percent.

Foreign portfolio investors (FPIs) bought shares worth Rs 536.27 crore yesterday, provisional data showed.

Globally, Asian bourses fell the most in five weeks as a disapointing Japanese stimulus package and oil below USD 40 a barrel renewed concern the global economic recovery is faltering.

For the day, benchmark indices in Japan, Hong Kong and Singapore ended lower by up to 1.88 percent.

European markets were showing a mixed trend in their early session with key indices in France's Paris CAC declining, while the UK's FTSE and Germany's rising 0.25 percent.

 

From Zee News

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