Sen­sex, Nifty End Lower on Weak Global Cues

The Economic Times - - Markets: Beating Volatility -

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

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