Post Session: Sensex ends 238 pts lower, Nifty slips below 10,700; broader markets outperform
17/05/2018 16:11
The Indian equities ended lower for the second consecutive session on Thursday, mirroring weakness in the Asian market, weakness in FMCG, bank, metal, oil, IT and pharma stocks and disappointing earnings dented market sentiment. Bucking the trend, the broader markets ended higher, with MidCap and SmlCap indices gaining as much as 0.67 per cent and 0.43 per cent, respectively. Among the individual stocks, Tata Steel fell nearly 2 per cent even after the company reported a consolidated net profit of Rs 146.88 billion for the quarter ended March 31, 2018, as compared to net loss of Rs 11.68 billion in the corresponding quarter of the previous financial year.

The 30-share benchmark index closed trade at 35149.12, down by 238.76 points or by 0.67 per cent, and the NSE Nifty ended at 10682.7, down by 58.4 points or by 0.54 points per cent.

In the day’s trade, the BSE Sensex touched intraday high of 35510.01 and intraday low of 35087.82, while the NSE Nifty touched intraday high of 10777.25 and intraday low of 10664.5.

The top losers of the BSE Sensex pack were ITC Ltd. (Rs. 279.00,-2.43%), Bharti Airtel Ltd. (Rs. 366.55,-2.34%), Axis Bank Ltd. (Rs. 537.90,-2.08%), Housing Development Finance Corporation Ltd. (Rs. 1875.05,-2.08%), Tata Steel Ltd. (Rs. 610.05,-1.93%), among others.

On the flip side, Coal India Ltd. (Rs. 271.40,+2.53%), Sun Pharmaceutical Industries Ltd. (Rs. 480.10,+1.75%), Tata Motors Ltd. (Rs. 315.15,+1.53%), Wipro Ltd. (Rs. 277.45,+1.15%), Tata Motors Ltd. (Rs. 185.30,+0.98%), were among top gainers on BSE.

On the sectoral front, FMCG and bankex stocks emerged as top losers on BSE, falling as much as 0.9 per cent and 0.63 per cent, respectively.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2904, shares advanced were 1455, while 1307 shares declined and 142 were unchanged.