Sensex down 165 points, completes 3-session losing string

Sensex down 165 points, completes 3-session losing string

Mr. Jignesh Chaudhary, Head Of Research, Veracity Broking Services said,” Local equities continued to trade weak today also. As in the morning to start the day, other markets in Asia opened weak and traded low. Yesterday FIIs were seen selling in the local markets and posted its lowest net buying in the whole month. Also the DIIs continued to be the net sellers in the equity. Till date for this month DIIs have been the net buyers only for 2 days in sixteen working days”.

Foreign institutional investors (FIIs) bought shares worth a net Rs 77.02 crore yesterday, as per provisional data from the stock exchanges.

Asian stocks ended mixed as investors weighed corporate earnings. Key benchmark indices in Taiwan, China, Hong Kong rose by 0.84-1.45 per cent while indices in South Korea and Singapore were down 0.15-0.23 per cent. Japanese markets were closed today for holiday.

European markets were trading higher in their early trade as a slew of corporate earnings which helped to buoy sentiment ahead of a policy meeting of the US Federal Reserve. Key indices in France, Germany and UK moved up by 0.06 per cent to 0.61 per cent.

Moving to the domestic market, 25 scrips ended lower and remaining five finished higher.

Major losers were Tata Steel (4.79 pct), HUL (3.01 pct), Hindalco Ind (2.87 pct), Tata Power (2.65 pct), Bajaj Auto (2.20 pct), SBI (1.90 pct), Maruti Suzuki (1.85 pct), Tata Motors (1.76 pct), SSLT (1.37 pct), Cipla (1.35 pct), HDFC Bank (1.30 pct), Icici Bank (0.93 pct) and Hero Moto (0.92 pct).

Among the S&P BSE sectoral indices, Metal fell by 2.69 pct followed by Bankex 1.27 pct, Auto 1.19 pct, Power 1.11 pct, FMCG 0.83 pct and CG 0.75 pct.

The market breadth turned negative as 1,506 stocks ended in the red, 1,281 stocks finished in the green while 123 ruled steady. The total turnover rose to Rs 2,865.42 crs from Rs 2,765.58 crore yesterday.