April 23, 2018

Sensex pares losses, rises over 100 points ahead of US Fed meet

21 March 2018, 07:56 | Lionel James

Sensex closes below 33000, Nifty50 sheds 100 points on fifth straight day of losses

Sensex dives 510 pts on growing political worries

The markets have been under tremendous pressure off late with metal and bank stocks cracking quite often.

The benchmark indices were trading flat on Tuesday tracking negative trend in Asian markets as investors dumped high-flying United States technology shares on fears of stiffer regulation as Facebook came under fire following reports it allowed improper access to user data.

The wider Nifty50 of the National Stock Exchange (NSE) fell below the 10,100-mark to provisionally close at 10,094.20 points - down 100.95 points or 0.99 per cent from its previous session's close. While, gains seen in Consumer Durable, IPOs, Banks, HealthCare, FMCG, PSUs and Power counters.

Supreme Court skeptical of California law requiring information about abortion
The religiously affiliated centers lost their challenge to the law before a California-based federal appeals court . They exist for a specific reason, which is to assist mothers who want to choose life for their unborn children.

Meanwhile, on a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 292.23 crore, while domestic institutional investors (DIIs) sold equities to the tune of Rs 191.52 crore yesterday, provisional data showed. The BSE Small-Cap index was off 0.23%. All the sectoral indices led by metal, oil & gas, energy, PSU, power and banking ended in the negative zone with losses of up to 2.30 per cent.

In the 30-share Sensex pack, 23 stocks were in the green, while 7 were in the red.

The stock slumped 8.53 per cent. Other laggards included Wipro, Yes Bank, Coal India, Infosys, Asian Paint, Bajaj Auto, Adani Ports, SBI, Tata Motors, Kotak Bank, Sun Pharma, ICICI Bank, Hero MotoCorp, Dr Reddy's, HDFC Ltd, Axis Bank, IndusInd Bank, RIL, ITC Ltd, ONGC, HDFC Bank and M&M that lost up to 2.60 per cent. Tata Steel and Bharti Airtel were the largest losers as they slipped 4.24 and 4.16 per cent, respectively. On 1 March 2018, Wipro had signed a definitive agreement to acquire a minority stake in Denim Group, a USA based leading application security solution provider. Chinese and Hong Kong shares are little changed after Chinese President Xi Jinping was re-elected unanimously to the post over the weekend by the country's legislature.

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