Sensex sheds 159 pts on weak global cues, profit-booking

02 July 2018, 04:15 PM
Sensex sheds 159 pts on weak global cues, profit-booking
Sensex sheds 159 pts on weak global cues, profit-booking

The BSE Sensex fell 159 points to end at 35,264.41 on Monday on profit booking in recent gainers led by metal, power and infrastructure stocks amid weak global cues.

The NSE Nifty also slumped below the 10,700-mark, weighed down by Bharti Airtel, NTPC, HUL, Adani Ports, RIL, ONGC, Adani Ports and HDFC Bank.

Unabated foreign fund outflows and a weak rupee added to the gloom, broker said.

The BSE 30-share index, after a positive opening, hit 35,578.24 on buying by domestic institutional investors, but came under selling pressure to sink to 35,106.57.

It finally ended at 35,264.41, down 159.07 points, or 0.45 per cent.

The gauge had rallied 385.84 points on Friday as the July series derivatives contracts started on a robust note.

Likewise, the 50-stock NSE barometer Nifty slipped below the crucial 10,700-level to end at 10,657.30, showing a loss of 57 points, or 0.53 per cent. Intra-day, it shuttled between 10,736.15 and 10,604.65.

Losses largely came from the metal index, followed by power, infrastructure, realty, PSU, oil and gas, capital goods, FMCG, healthcare, auto and banking.

On the other hand, IT, consumer durables and teck ended in the positive zone.

The country's manufacturing sector activity in June grew at the strongest pace this year, supported by rise in domestic and export orders, says a monthly survey.

The Nikkei India Manufacturing Purchasing Managers Index (PMI) rose from 51.2 in May to 53.1 in June, registering the fastest improvement since December 2017.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 157.15 crore, while domestic institutional investors (DIIs) bought equities to the tune of Rs 2,262.83 crore on Friday, as per provisional data.

European shares opened lower amid weak Asian markets as trade tensions between the US and its trading partners continues to be a key concern for investors.

First Published: Monday, July 02, 2018 04:11 PM
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