Post Session: Sensex, Nifty end lower on inflation concern; capital goods and PSU stocks drag
14/11/2017 15:57
The Indian benchmarks ended lower in bearish trade on Tuesday, tracking mixed cues from Asian peers, weighed down by selling across capital goods and PSU space. On the sectoral front capital goods and PSU stocks emerged as top losers on BSE, falling as much as 1.42 per cent to 0.92 per cent, respectively. The market sentiments were dented by spike in retail inflation which rose to 7-month high of 3.58 per cent in October due to rate of price rise in the food and vegetable segments, dimming interest rate cut hopes by the Reserve Bank. Footwear retailer Khadim India made a quite debut on the BSE by listing at Rs 727, down 3 per cent against its initial public offer (IPO) price of Rs 750 per share. After making a tepid debut, shares of company fell sharply to close at Rs 688.50 on the BSE.

The 30-share benchmark index closed at 32941.87, down by 91.69 points or by 0.28 per cent, and the NSE Nifty ended at 10186.6, down by 38.35 points or by 0.38 per cent.

In the choppy trade, the Sensex touched intraday high of 33126.55 and intraday low of 32907.11, while the NSE Nifty touched intraday high of 10248 and intraday low of 10175.55.

The top losers of the BSE Sensex pack were Larsen & Toubro Ltd. (Rs. 1209.85,-2.46%), Power Grid Corporation of India Ltd. (Rs. 206.75,-2.20%), Asian Paints Ltd. (Rs. 1154.25,-1.77%), Tata Consultancy Services Ltd. (Rs. 2716.75,-1.53%), Oil And Natural Gas Corporation Ltd. (Rs. 182.00,-1.25%), among others.

On the flip side, Hero MotoCorp Ltd. (Rs. 3653.65,+1.96%), Axis Bank Ltd. (Rs. 546.25,+1.57%), Bajaj Auto Ltd. (Rs. 3255.60,+1.37%), Mahindra & Mahindra Ltd. (Rs. 1429.90,+1.34%), Reliance Industries Ltd. (Rs. 886.20,+1.26%), were among top gainers on the BSE.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3011, shares advanced were 1237, while 1618 shares declined and 156 were unchanged.