Sensex, Nifty End Lower on Weak Global Cues
Domestic benchmark indices ended on a negative note after a choppy session Friday amid weak global cues as the US Fed hinted at a rate hike next month. The Sensex fell 79.13 points, or 0.22%, to close at 35,158.55. The broader Nifty lost 13.20 points, or 0.12%, to end at 10,585.20.
According to analysts, market was range-bound due to weak global cues. Investors are also awaiting CPI data Monday, which is expected to come down slightly due to recent cut in fuel taxes and fall in oil prices.
Additionally, the upcoming state elections will be a key trigger to monitor while fall in crude oil prices and bond yields along with appreciation in the rupee will provide support to the market, they added.
In the Sensex pack, Bharti Airtel was the biggest loser, falling 2.45%, after Moody's Investors Service placed the company's rating on review for downgrade following low levels of profitability and expectation of weak cash flow.
Among top losers that dragged down key indices were Infosys, TCS, Reliance, SBI, Tata Steel and ITC, falling up to 2.15%. On the other hand, Yes Bank was the top gainer on Sensex, rallying 5.49%, followed by Asian Paints, Adani Ports, Sun Pharma, Hero MotoCorp, HUL and Maruti, rising up to 3.79%. Mid and small-cap shares outperformed larger peers as the BSE MidCap and SmallCap indices rose nearly 1% each. – PTI