Published: Fri, May 18, 2018
World News | By Laverne Osborne

Sensex down 95 pts, Nifty below 10750 in late morning trade

Sensex down 95 pts, Nifty below 10750 in late morning trade

The rupee firmed up by 10 paise to 67.70 against the U.S. dollar in early trade today on increased selling of the American currency by banks and exporters amid the greenback's weakness against some currencies overseas.

Globally, crude oil prices inched closer to $80 per barrel, stoking fears of rising import bills and worsening fiscal deficits for energy importers like India.

Besides domestic cues, Abhijeet Dey, Senior Fund Manager, Equities at BNP Paribas Mutual Fund said that stock markets in India were impacted by weak U.S. and Asian shares.

On Tuesday, none of the major political parties were able to achieve a clear majority in the Karnataka assembly elections, leading to political uncertainty.

The Sensex touched a high of 35,543.89 points and a low of 35,241.63 points during the intra-day trade. Amongst the global indices, the Asian and European markets traded on a mixed note.

RAGE 2 Official Gameplay Trailer, Screens and Details Released
So far I haven't seen anything particularly interesting that makes my ears perk up, but I'll be keeping an eye on this one. The game will reach PS4, Xbox One and PCs sometime in 2019, with more info expected at Bethesda's E3 event on June 10th.

Indian shares ended lower for a fourth straight session on Friday, dragged by financials such as HDFC Bank and Housing Development Finance Corp, while sentiment was subdued amid caution over developments in U.S. "A BJP victory in Karnataka will revive hopes of Narendra Modi forming the government again in 2019, which is important for the follow-up of economic reforms", said Anand Shah, deputy CEO and head of investments BNP Paribas Mutual Fund India.

At 09:22 am, the S&P BSE Sensex was trading 120 points lower at 35,029.39. However, it tumbled to 35,087.82 in a sudden late-session sell-off, before finally ending at 35,149.12, down 238.76 points, or 0.67%.

Foreign portfolio investors (FPIs) net sold shares worth Rs 830.94 crore, while domestic institutional investors (DIIs) bought equities to the tune of Rs 428.92 crore yesterday, provisional data from stock exchanges showed. Thirty stocks on the 50-scrip Nifty index were trading in the negative zone.

In Europe, Frankfurt's DAX fell 0.12 per cent, while Paris CAC shed 0.28 per cent in early deals.

Like this: