Post session: Sensex sinks 360 pts as Brent crude surges, Nifty slips below 10,400 07/11/2017

Post session: Sensex sinks 360 pts as Brent crude surges, Nifty slips below 10,400
07/11/2017 15:54

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The Indian benchmarks witnessed hefty selling on Tuesday, with Sensex and Nifty slipping over 1 per cent, as investors resorted to profit booking after strong rally last week. Adding to it, rise in crude oil prices in the international markets also injected negativity in the market. Sentiments were dampened on foreign brokerage report which highlighting adverse macroeconomic impact of rise in crude oil prices, said every USD 10 per barrel rise in the price will worsen India’s fiscal balance by 0.1 percent and current account balance by 0.4 percent of GDP. On the sectoral front, pharma and realty stocks emerged as top losers on BSE, falling as much as 3.51 per cent and 2.24 per cent, respectively. Bucking the trend, IT and Technology stocks rallied as much as 1.2 per cent to 2.06 per cent.

The 30-share benchmark index closed at 33370.76, down by 360.43 points or by 1.07 per cent, and the NSE Nifty ended at 10352.35, down by 99.45 points or by 0.95 per cent.

In the choppy trade, the Sensex touched intraday high of 33865.95 and intraday low of 33341.82, while the NSE Nifty touched intraday high of 10485.75 and intraday low of 10340.8.

The top losers of the BSE Sensex pack were Lupin Ltd. (Rs. 860.00,-16.88%), Cipla Ltd. (Rs. 608.30,-7.19%), Tata Motors Ltd. (Rs. 249.00,-3.95%), Bharti Airtel Ltd. (Rs. 513.60,-3.59%), State Bank of India (Rs. 317.20,-3.57%), among others.

On the flip side, Infosys Ltd. (Rs. 955.00,+2.84%), Tata Consultancy Services Ltd. (Rs. 2711.00,+1.65%), Wipro Ltd. (Rs. 302.00,+0.83%), Kotak Mahindra Bank Ltd. (Rs. 1012.00,+0.33%), Hindustan Unilever Ltd. (Rs. 1242.40,+0.18%), were among top gainers on the BSE.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3041, shares advanced were 958, while 1952 shares declined, and 131 were unchanged.