Sensex, nifty turned fickle as IT, pharma stock fell

PTI/Agencies, New Delhi
26/11/2018   0 Comments

The BSE benchmark Sensex gained initial profit and flattered after more than 200 points on Monday, which led to the decline in IT and pharma shares due to the rupee strengthening. In 30 stocks the Sensex gained initial profit and dropped 4.38 points or 0.01 per cent, which was higher at 34,985.40. Similar movement was seen in NSE Nifty, and dropped 10.15 points or 0.09 percent, which was higher at 10,536.75. Infosys, TCS and Sun Pharma were the biggest contributors to the market in early business, which had fallen to 2.13 percent. Yes Bank, Adani Port, ONGC, Vedanta and Kotak Bank were in other loop deficits, which had fallen to 5.55 per cent. On the other hand, Bharti Airtel, Axis Bank, Asian Paints, HDFC and Power Grid increased by 1.77 per cent. After the index opened on a strong note, investors booked profits at a higher level.

For the eighth straight day, the rupee gained 39 paise to 70.30 against the US dollar on Monday, because global crude oil prices fell below 60 US dollars and it was trading at $ 59.47 a barrel. According to the provisional data available with BSE, foreign portfolio investors (FPI) bought foreign shares of Rs 446 crore on Thursday and domestic institutional investors (DIIs) were net buyers of Rs 49.68 crore on Thursday. Somewhere else in Asia, Nikkei of Japan rose 0.65%, Taiwan's benchmark index was up 0.83%, and the Shanghai Composite Index increased by 0.29%. Meanwhile, Down Jones Industrial Average fell 178.74 points, or 0.73 percent, to 24,285.95 on Friday, as the US energy sector fell on constant weakness in oil prices.


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