Global cues suppress equity markets

Global cues suppress equity markets

Global cues suppress equity markets

On NSE, shares of the company went up by 3.77 per cent to close at Rs 1,256.85. Unabated foreign fund outflows, disappointing earnings and a weak rupee added to the gloom.

Mumbai: Market benchmark Sensex broke its four-day winning streak to end over 73 points lower at 35,103.14 on Thursday as investors chose to trim their positions on weak global cues ahead of talks between China and the U.S. on their trade dispute. The BSE gauge had lost 73.28 points in the previous session. During the day, it shuttled between 10,720.60 and 10,647.45. "Back home, results and upcoming state election will give near term direction", said Vinod Nair, Head of Research, Geojit Financial Services.

Heavy selling pressure in metal, consumer durables and auto stocks weighed on the indices.

Wipro fell the most among the Sensex counters, plunging 1.94 per cent, followed by Kotak Mahindra Bank at 1.90 per cent.

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The top losers were Sun Pharma, down 2.95 per cent at Rs 518.75; Bajaj Auto, down 2.74 per cent at Rs 2,890.50; Yes Bank, down 2.43 per cent at Rs 345.40; ITC, down 2.37 per cent at Rs 277.50; and Axis Bank, down 2.27 per cent at Rs 520.30 per share.

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

"Markets corrected on Thursday as the Nifty ended in the red for the second consecutive day". The Nifty, however, was down by 21.30 points or 0.20 per cent.

European shares were higher in late morning deals as investors globally await Federal Reserve's meeting outcome due tonight. Hang Seng was down by 1.66 per cent while South Korea's Kospi was also down by 0.37 per cent.

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