Key indices edge down on weak global cues
Sensex, Nifty logged third day of decline; RIL, TCS played a spoilsport in lackluster session
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Mumbai Benchmark equity indices Sensex and Nifty closed on a mixed note in a volatile trade on Monday amid weak trends in the global markets.
Selling in index heavyweight Reliance Industries and Tata Consultancy Services also played a spoilsport. In a lacklustre trading, the 30-share BSE Sensex dipped 9.37 points or 0.01 per cent to settle at 62,970, logging its third day of decline. During the day, it hit a high of 63,136.09 and a low of 62,853.67. The NSE Nifty edged up by 25.70 points or 0.14 per cent to settle at 18,691.20.
“The global market exhibited a negative bias as concerns regarding economic growth emerged in light of the political instability in Russia. This instability led to an increase in oil prices, driven by worries over potential supply disruptions, given Russia’s status as one of the largest oil producers. On the domestic front, the market experienced limited downside as the pharma and auto sectors provided support,” said Vinod Nair, Head of Research at Geojit Financial Services.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs344.81 crore on Friday, according to exchange data.
From the Sensex pack, Tata Consultancy Services, Reliance Industries, NTPC, Airtel, Power Grid, L&T, HDFC Bank, Kotak Mahindra Bank, Tech Mahindra and HDFC were the major laggards. Maruti, Tata Motors, Titan, UltraTech Cement, Bajaj Finserv, Mahindra & Mahindra, State Bank of India and IndusInd Bank were the biggest gainers.
In Asian markets, Seoul ended in the green, while Tokyo, Shanghai and Hong Kong settled lower.
Attempted Coup in Russia Triggers Uncertainty
l BSE Sensex dipped 9.37 pts or 0.01% to 62,970
l During the day, Sensex hit a high of 63,136.09 and a low of 62,853.67
l NSE Nifty inched up by 25.70 pts or 0.14% to 18,691.20
l NTPC, Airtel, Power Grid, L&T, HDFC twins, Kotak Mahindra Bank, Tech M were major laggards
l Maruti, Tata Motors, Titan, UltraTech Cement, Bajaj Finserv, M&M, SBI and IndusInd Bank among gainers
l Mutiny attempt in Russia triggered uncertainty
l Global market exhibited a negative bias
l Concerns about economic growth emerged
l Political instability in Russia to impact oil prices
