Markets

News Details

( 23 Apr 2019)
Post Session: Sensex, Nifty dip further on soaring crude prices

Indian equity benchmarks Sensex and Nifty ended in the negative terrain for the third session in a row on Tuesday as financial and auto stocks faced high selling pressure, while constant rise in crude oil prices reignited macro worries. Among sectors, energy, FMCG and pharma witnessed some buying, while auto, bank, metal and infra ended in red. Indices took a beating after US President Donald Trump on Monday decided not to grant sanctions exemptions to any oil customers of Iran, further squeezing Tehran's top export commodity. This move could have implications on India's energy security, experts said. Global benchmark Brent crude was trading 0.62 per cent higher at USD 74.50 per barrel. The rupee, meanwhile, weakened by 7 paise to 69.74 against the US dollar intra-day. Meanwhile, foreign institutional investors (FIIs) purchased equity worth Rs 73.08 crore on Monday, while domestic institutional investors (DIIs) sold shares to the tune of Rs 68.16 crore, provisional data available with stock exchanges showed. Elsewhere in Asia, markets in China, South Korea and Japan ended on a choppy note. After a long Easter weekend, European equites started off on Tuesday on a mixed note.

The 30-share index closed at 38564.88 down by -80.3 points or by -0.21 per cent and then NSE Nifty was at 11575.95 down by -18.5 points or by -0.16 per cent. The BSE Sensex touched intraday high of 38832.61 and intraday low of 38518.26 The NSE Nifty touched intraday high of 11645.95 and intraday low of 11564.8.

The top gainers of the BSE Sensex were Oil And Natural Gas Corporation Ltd. (Rs. 163.95,+3.93%), Sun Pharmaceutical Industries Ltd. (Rs. 468.50,+3.08%), Bajaj Finance Ltd. (Rs. 3035.50,+1.47%), Coal India Ltd. (Rs. 255.35,+1.45%), Reliance Industries Ltd. (Rs. 1363.30,+1.38%), among others. On the other hand, the top losers of the BSE Sensex were Maruti Suzuki India Ltd. (Rs. 7042.65,-3.60%), YES Bank Ltd. (Rs. 232.85,-2.33%), IndusInd Bank Ltd. (Rs. 1654.60,-2.18%), Tata Steel Ltd. (Rs. 523.80,-2.15%), Hero MotoCorp Ltd. (Rs. 2637.10,-1.74%), among others.

Among sectors, CDS index was at 23810.49 up by 227.04 points or by 0.96%. Symphony Ltd. (Rs. 1408.85,+4.18%), Rajesh Exports Ltd. (Rs. 720.15,+3.26%), Crompton Greaves Consumer Electricals Ltd. (Rs. 237.05,+1.96%), Voltas Ltd. (Rs. 621.65,+1.54%), Blue Star Ltd. (Rs. 657.00,+0.91%),. On the other hand, Auto index was at 19582.28 down by -262.51 points or by -1.32%. Maruti Suzuki India Ltd. (Rs. 7042.65,-3.60%), Hero MotoCorp Ltd. (Rs. 2637.10,-1.74%), Motherson Sumi Systems Ltd. (Rs. 150.25,-1.44%), Tata Motors Ltd. (Rs. 231.40,-1.39%), Mahindra & Mahindra Ltd. (Rs. 664.30,-1.14%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2867 , shares advanced were 1210 while 1482 shares declined and 175 were unchanged.