Live
- The advantages of buying a luxury villa in a community development
- Mufasa: The Lion King Roars to Success with INR 74 Crores in Its Opening Week in India
- CM Revanth Reddy Expresses Grief Over the Demise of Dr. Manmohan Singh
- Virat Kohli Encountered by Fan During Melbourne Test: Security Rushes In
- Telugu cinema struggling in the absence of Dasari
- Allu Arjun to Appear in Virtual Court Hearing Along with Sureties in Sandhya Theatre Case
- Today’s Horoscope: How December 27, 2024 Aligns for Each Zodiac Signs
- Allu Arjun to Attend Nampally Court Hearing Online Following Security Reasons
- Allu Arjun Files Regular Bail Petition in Nampally Court Amid Ongoing Sandhya Theatre Case
- Telugu cinema rings in 2025 with the re-release of classic hits
Macro data, global cues dampen equity markets
Globally, stock markets struggled after the US Federal Reserve decided to keep its benchmark interest rate unchanged amid mixed signals about the direction of the American economy
Mumbai: Equity benchmarks ended on a negative note after a volatile session on Thursday as investor sentiment remained on the back foot amid lacklustre macroeconomic data and mixed overseas cues.
Auto stocks skidded following weak April sales numbers, while IT counters tumbled as the rupee strengthened above the 70 per $ mark. The BSE Sensex settled 50.12 points, or 0.13 per cent, lower at 38,981.43.
During the day, the index swung over 300 points, hitting an intra-day low of 38,882.99 and a high of 39,189.95.
In similar movement, the broader NSE Nifty slipped 23.40 points, or 0.20 per cent, to close at 11,724.75. It also saw an intra-day movement of 89.75 points.
Globally, stock markets struggled after the US Federal Reserve decided to keep its benchmark interest rate unchanged amid mixed signals about the direction of the American economy.
Meanwhile, India's manufacturing sector performance eased to an eight-month low in April as new business growth moderated, curbed by the elections and a challenging economic environment, PMI data showed.
In the Sensex pack, Tata Motors was the biggest loser, shedding 3.29 per cent, followed by ICICI Bank, IndusInd Bank, Infosys, HCL Tech, Axis Bank, TCS, HUL, Asian Paints, Sun Pharma, SBI, Tata Steel and NTPC, which dropped up to 3.23 per cent.
On the other hand, Yes Bank was the top gainer, rebounding 3.45 per cent. PowerGrid, HDFC, HDFC Bank, Hero MotoCorp, Bajaj Auto, Bharti Airtel, Bajaj Finance, Kotak Bank, RIL, L&T, Vedanta, ITC, ONGC and Maruti too ended in the green, rising up to 1.88 per cent.
"As we enter the final stages of the 2019 general elections, one can expect the volatility in the market to remain high.
Q4 FY19 earnings so far has been lacklustre, slowdown in sectors such as consumption and auto has hurt investor sentiments.
"Rising oil prices continue to be a threat to the domestic markets.
However, due to the ongoing general elections the government has kept domestic oil prices stable and has not undertaken any steep hikes," said Hemang Jani, head - Advisory, Sharekhan by BNP Paribas.
Sectorally, BSE IT, teck, consumer durables, bankex and auto indices ended in the red, falling up to 1.84 per cent.
The broader BSE Midcap and Smallcap gauges closed in line with the benchmarks, shedding up to 0.61 per cent.
Elsewhere in Asia, Korea's Kospi and Hong Kong's Hang Seng ended in the green, while other major bourses in China and Japan were shut. European equites started off on a mixed note.
