Published: Tue, November 14, 2017
IT | By Lester Massey

Equity indices close lower on global cues, macro-data (Second Lead)

Equity indices close lower on global cues, macro-data (Second Lead)

The index had a fall of 281 points yesterday.

The benchmark BSE Sensex gained 103 points in early trade, extending gains for the third day on Monday as the government unveiled its new GST rates on Friday evening.

The BSE market breadth was bearish - 1,556 declines and 1,141 advances.

"Markets ended sharply lower on Monday as the Nifty broke the 10,254 support. The Nifty hit its lowest level in nearly three weeks", Jasani added. However, emergence of selling at every rise wiped off initial gains and the index finally settled 91.69 points, or 0.28 % down at 32,941.87, its weakest closing since October 26.

"Oil price worries kept energy shares such as Reliance Industries under pressure".

Besides, inflation at the wholesale level too rose to six-month high of 3.59 % in October as the prices of food articles rose. "Global cues were not helping either amid uncertainty over United States tax reform, slow down in Chinese factory output and growing political issues in UK", Vinod Nair, Head of Research, Geojit Financial Services said.

Sectorwise, the S&P BSE capital goods index plunged by 260.55 points, followed by oil and gas index by 139.03 points and metal index by 90.19 points.

Provisional data with the exchanges showed that foreign institutional investors sold stocks worth Rs 233.56 crore, while domestic institutional investors divested scrips worth Rs 268.77 crore.

Among the top Sensex losers, Larsen and Toubro fell 2.5 percent, Tata Consultancy Services dropped 1.7 percent, Power Grid lost 2.6 percent while Asian Paints shed 1.8 percent.

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