Sensex trades 117 points lower; Nifty below 10650-level

Healthy Q4 results, auto sales numbers push equity indices higher
Market opens on higher note despite weakness in Asian stocks
Author

05 May, 2018

The 30-share BSE Sensex was down 73.28 points at 35,103.14 and the 50-share NSE Nifty fell 38.30 points to 10,679.70.

The key Indian equity indices provisionally closed lower on Friday following broadly negative global cues such as high crude oil prices and geo-political tensions in the Middle East.

According to market observers, healthy buying was witnessed in the banking, automobile and FMCG stocks. The Dow Jones Industrial Average rose 5.17 points, or 0.02 per cent, to end at 23,930.15, the S&P 500 lost 5.94 points, or 0.23 per cent, to 2,629.73 and the Nasdaq Composite dropped 12.75 points, or 0.18 per cent, to 7,088.15.

Market breadth remained negative. on the BSE, 581 stocks declined, 494 stocks gained, while 47 stocks remained unchanged.

The broader markets too reflected a bearish trend for the second day.

"Rupee weakened as positive US employment data might lead to (US) Feds monetary tightening".

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This comes days after India slipped two positions in the World Press Freedom Index 2018 to Rank 138 in theb list of 180 countries. Today on World Press Freedom Day , let us reaffirm our commitment towards steadfastly supporting a free press.

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Market participants booked profits at higher levels in opening trade, they added.

On the currency front, the Indian rupee strengthened by one paise to 66.65 against the United States dollar from its previous close at 66.66.

Meanwhile, domestic institutional investors (DIIs) bought shares worth a net of Rs 261.98 crore, while foreign portfolio investors (FPIs) sold shares worth a net of Rs 385.47 crore on Monday, provisional data showed.

Pharma stocks pushed both indexes lower, with the Nifty Pharma index falling as much as 1 percent.

The major gainers on the Sensex on Friday were Adani Ports, up 2.87 per cent at Rs 408.20; HDFC Bank, up 1.03 per cent at Rs 1,987.85; Hindustan Unilever, up 0.70 per cent at Rs 1,465; Power Grid, up 0.58 per cent at Rs 207.75; and IndusInd Bank, up 0.47 per cent at Rs 1,886.65 per share.


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