Sensex falls 131 points for week on rising geo-politics concerns

Ann Santiago
March 21, 2018

Bulls remained confused as the potential global trade-war vented-out by Trump administration slowly but steadily came into intentness.

The benchmark indices were trading flat on Tuesday tracking negative trend in Asian markets as investors dumped high-flying U.S. technology shares on fears of stiffer regulation as Facebook came under fire following reports it allowed improper access to user data.

"Market continues to drag under global market volatility ahead of the FOMC meet tomorrow, where consensus hints at a 25bps rate hike". The NSE Nifty50 index was 0.47 per cent up at 10,141.

The Sensex slipped below 33,000 points and the Nifty50 fell below 10,100 on Monday as the week began with a wider current account deficit for India and amid prospects of the government facing its first no-confidence motion in Parliament.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth Rs 292.23 crore on net basis, while domestic institutional investors (DIIs) sold equities to the tune of Rs 191.52 crore yesterday, provisional data showed.

In line with midcap index, the BSE Smallcap index was also underperforming benchmark Sensex during Tuesday's trade. In the broader market, the BSE mid-cap index fell by 1.07 per cent while the small-cap index shed 1 per cent.

Among sectoral and industry indices, IT dipped by 0.69 per cent followed by metal 0.56 per cent, capital goods 0.52 per cent, oil and gas 0.37 per cent, teck 0.23 per cent, auto 0.19 per cent and realty 0.07 per cent, while consumer durables rose by 2.05 per cent, IPO 1.50 per cent, bankex 0.96 per cent, healthcare 0.42 per cent, FMCG 0.19 per cent and power 0.13 per cent.

Barring seven stocks, the rest of Sensex shares ended in the red. Other gainers were Sun Pharma, Dr Reddy's, Adani Ports, HDFC Ltd, L&T, Tata Motors, Bajaj Auto, Asian Paints, SBI, Power Grid, HUL, Axis Bank, Maruti Suzuki and Hero MotoCorp, rising up to 2.20%.

BPCL (-3.6%), International Olympic Committee (-3.4%), HPCL (-2.2%), Coal India (-2%), Bajaj Auto (-1.5%) were the top losers in today's trade. However, Telecom major Bharti Airtel surged 4.04 per cent.

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