Published: Fri, May 18, 2018
Global | By Enrique Rogers

Sensex, Nifty under pressure; ICICI Bank, IOC, RIL, SBI shares drag

Sensex, Nifty under pressure; ICICI Bank, IOC, RIL, SBI shares drag

The depreciating rupee also affected momentum.

Brokers said sentiment remained weak largely on sustained capital outflows by foreign funds and rising global crude oil prices, which went past the Dollars 80 per barrel mark.

BJP legislature party leader B S Yeddyurappa was sworn in as the chief minister of Karnataka for the second time, after an overnight high-voltage legal battle in the Supreme Court.

Besides, weak Chinese economic data and a lack of progress on trade tariff issues between the U.S. and China further hit investor sentiments.

Equities wilted under selling pressure for the fourth straight session today, capping off the worst week for investors this fiscal amid political uncertainties and spiking crude oil prices.

The BSE Sensex fell over 150 points to trade below the 35,000 mark while the Nifty50 index shed over 50 points. Amongst the global indices, the Asian and European markets traded on a mixed note. The benchmark BSE Sensex cracked 301 points or 0.86 per cent to end at 34,848, while the broader NSE Nifty lost 86 points or 0.81 per cent to close at 10,596.

Sectoral indices led by capital goods, IT, teck, oil and gas, banking and PSU were trading in the negative zone.

Media 'grossly misinterpreted' 26/11 remarks: Sharif
Sharif also said in the interview that Pakistan's failure saw it getting isolated in world affairs despite making sacrifices. However, a close reading of his remarks shows that they constituted a full-frontal attack on the Pakistan army.

Late morning, the 30-share index was trading at 35,292.30, showing a loss of 95.58 points, or 0.27 per cent.

However, Coal India rose 2.53%, Sun Pharma 1.75%, Tata Motors 1.53%, Wipro 1.15%, Bajaj Auto 0.94%, ONGC 0.91%, HDFC Bank 0.15%, Maruti Suzuki 0.14% and SBI 0.06%.

Foreign portfolio investors (FPIs), who have been net sellers in the past few sessions, sold shares worth a net Rs 518.47 crore, while domestic institutional investors (DIIs) bought shares worth Rs 531.33 crore yesterday, according to provisional data.

Hong Kong's Hang Seng advanced 0.22 percent while Japan's Nikkei was up 0.25 percent in early trade.

The Nifty slumped 147.8 points or 1.35 per cent from its days high and finally ended the day at 10,801.85, down 0.04 per cent or 4.75 points.

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

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