Sensex, Nifty close lower as traders cautious ahead of GDP data
Mumbai: Benchmark Sensex ended marginally lower at 33,603 on Wednesday as investors remained on the sidelines ahead of the second-quarter gross domestic product (GDP) data and expiry of November derivatives contracts. Sentiment took a hit after North Korea test fired an intercontinental ballistic missile, ratcheting up tensions with the US.
Extending its falling trend for the second session, the 30-share index, after moving between 33,728.81 and 33,553.12, finally settled 15.83 points, or 0.05%, lower at 33,602.76 as several bluechips retreated. The barometer had lost 105.85 points in Tuesday’s trade after eight straight sessions of gains. The broader NSE Nifty too slipped 8.95 points or 0.09% to end at 10,361.30 after shuttling between 10,392.95 and 10,345.90.
“Indian stocks retracted to a risk off mode ahead of the GDP data release scheduled tomorrow. Global cues were also mixed with US tax overhaul optimism drowned by pessimism over renewed threats from North Korea. Investors also seemed to be waiting for the outcome of OPEC’s meeting and lacked confidence in chasing short-covering rallies ahead of domestic F&O expiry tomorrow,” said Anand James, chief market strategist, Geojit Financial Services.
Meanwhile, foreign portfolio investors bought shares worth a net Rs12.24 crore on Tuesday, as per provisional data. Domestic institutional investors sold equities worth a net Rs428.15 crore.
Axis Bank was the worst performer in the Sensex kitty, falling 2.32%, followed by HDFC (1.31%). Others on the losing side included Asian Paints, SBI, TCS, Kotak Bank, Dr Reddy’s, Tata Motors, Hero MotoCorp, NTPC, Cipla, Infosys and M&M, falling up to 1.18%. The gainers’ pack was led by Wipro, Adani Ports, Sun Pharma, Hindustan Unilever, Tata Steel, Bharti Airtel, Bajaj Auto, Coal India, HDFC Bank, Maruti Suzuki, ITC, L&T and ICICI Bank.
Sector-wise, BSE metal lost most, falling 0.55%, followed by bankex, PSU, power, IT and teck. The BSE mid and small cap indices also lost up to 0.17%.
In the Asian region, Hong Kong’s Hang Seng shed 0.19%, Singapore fell 0.10% while Japan’s Nikkei ended 0.49% higher. Shanghai Composite Index rose 0.13%. In the euro zone, Frankfurt’s DAX rose 0.70%, while Paris CAC rose 0.49% in early deals. London’s FTSE shed 0.55%.
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