Live
- Muzarai dept to evict encroachments of temple lands
- CM Siddaramaiah inaugurates 27th Edition of Bengaluru Tech Summit
- India can and will play better, says Manolo Marquez after draw against Malaysia
- Top 4 Men’s Grooming Platforms Revolutionizing Self-Care in India
- 58% cut in NABARD funds from ₹5,600 cr to ₹2,340 cr for state
- YS Sunitha visits AP assembly, seeks update on probe in YS Viveka's murder case
- Bengaluru traffic violation: Cops collect Rs 7.62 lakh in just 5 hours
- India, Italy reaffirm commitment to advance strategic partnership as PM Modi, Meloni meet in Rio
- 78 NGOs call for climate finance for transition to regenerative farming at COP29
- Suriya and Bobby Deol's Kanguva Struggles at Box Office Amidst Criticisms
Global cues drag markets down
Indian stock markets ended lower on Monday for the second straight trading day as weak global cues and profit-booking took a toll on the indices. Investors were cautious as US Fed and Bank of Japan are set to meet later this week to decide on their next policy move.
Mumbai: Indian stock markets ended lower on Monday for the second straight trading day as weak global cues and profit-booking took a toll on the indices. Investors were cautious as US Fed and Bank of Japan are set to meet later this week to decide on their next policy move.
Caution also set in as the second part of Parliament's Budget session got under way on Monday, with concerns persisting over passage of proposed Bills and focus shifting to the key Goods and Services Tax Bill, which is dubbed as the country's biggest indirect tax reform since Independence. Investors also remained on tenterhooks as derivatives contracts are set to expire this Thursday.
The 30-share benchmark BSE Sensex opened higher and climbed further before profit-booking surfaced and pulled it down to 25,678.93 at the close, a loss of 159.21 points, or 0.62 per cent. The barometer had lost 42.24 points in the previous session on Friday last week. The 50-share NSE Nifty settled lower by 44.25 points, or 0.56 per cent, at 7,855.05. Intra-day, it shuttled between 7,911 and 7,827.
The rupee lost its heft against the dollar at 66.61, which weighed on mood. Of the 30-share Sensex pack, 21 lost while 9 ended higher. RIL dropped 2.18 per cent despite the company reporting a 16 per cent jump in its net profit since there is no clarity on launch of Jio service.
Maruti Suzuki, ONGC, NTPC, Tata Steel, HDFC Ltd, BHEL, ITC, Sun Pharma and Tata Motors all fell. Bharti Airtel broke from the crowd, topped the gainers' list by climbing 1.63 per cent after the company said its board will consider share buyback or a final dividend, or a combination of both, at its meeting on Wednesday.
TCS, Bajaj Auto, Hindustan Unilever, M&M, Adani Ports, and ICICI Bank, ended higher, cushioning the fall. Sectorally, BSE power index took the biggest knock, falling 1.43 per cent, followed by metal 1.06 per cent and infrastructure 1.05 per cent. Tracking the overall trend, the broader markets witnessed selling, with the small-cap index declining 0.39 per cent and mid-cap shedding 0.14 per cent.
The market breadth remained negative as 1,541 shares ended lower, 1,072 closed higher while 150 went flat. The total turnover rose to Rs 4,413.64 crore, from Rs 2,575.10 crore last Friday.
