Sensex, Nifty end lower tracking weak global shares

Dhaka,  Mon,  25 September 2017
Published : 09 Jul 2017, 21:54:55

Sensex, Nifty end lower tracking weak global shares

The NSE Nifty and Sensex ended lower on Friday tracking weaker global markets on worries the European Central Bank is moving closer to unwinding its massive monetary stimulus, reports NDTV Online.

Concerns that the ECB and the US Federal Reserve are moving to remove some of their stimulus measures have hit sentiment, with MSCI's broadest index of Asia-Pacific shares outside Japan down 0.6 per cent on Friday.

But broader losses in the benchmark indices were capped as heavyweights like Reliance Industries, HDFC Bank and Lupin Ltd witnessed buying interest.

"There is a mild worry about the global interest rate trajectory while Indian pharma stocks are trying to make a comeback after recent consolidation," said Deepak Jasani, Head, Retail Research, at HDFC Securities.

The Sensex ended 9 points or 0.02 per cent lower at 31,361 and the broader Nifty declined 0.09 per cent or 9 points to settle at 9,665.

Financials and private banks weighed on the indexes with Housing Development Finance Corp Ltd and ICICI Bank Ltd falling over a per cent each.

Among gainers, Lupin Ltd, India's third-largest drug maker, surged as much as 4.7 per cent, to post its first weekly gains in five on value-buying. Reliance Industries, Aurobindo Pharma, Dr Reddy's Labs, Bharti Airtel and Tech Mahindra were also among the gainers.

The broader markets ended on a mixed note with BSE mid-cap index declining 0.03 per cent and small-cap index advancing 0.26 per cent.

The overall market breadth was neutral as 1,391 shares ended higher while 1,285 closed lower on the BSE.
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