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Market off the grid again, ends 150 points down

Foreign capital outflow and selling by domestic investors drove investors to the exit door.

Updated: Mar 15, 2018, 05.14 PM IST
Share market: Sensex falls 150 pts, Nifty near 10,350; MMTC surges 20%
Share market: Sensex falls 150 pts, Nifty near 10,350; MMTC surges 20%
NEW DELHI: Stock benchmarks made a few attempts to break free today, only to end in negative territory, pulled down by banking, energy and oil & gas stocks.

Asian cues remained mixed.

Foreign capital outflow and selling by domestic investors in the wake of escalating tension over trade tariffs drove investors to the exit door.

The 30-share Sensex fell for the third straight day while the Nifty tested 10,350 level.

The BSE index closed down 150 points, or 0.44 per cent, at 33,686. The NSE Nifty too settled in the red, down 51 points, or 0.49 per cent, at 10,360.

On the Sensex map, 11 managed to close in the green and 19 lost. As for the Nifty, 12 scrips rose and 38 fell.

Broader markets had a different story. The BSE Midcap and Smallcap indices won the day, surging up to 0.80 per cent.

In the Sensex team, YES Bank gave up over 2 per cent. YES Bank had seen a spike in its share price on Wednesday on reports of acquisition of stake in Fortis Healthcare following invocation of nearly 9 crore pledged shares last month, PTI reported.

Reliance Industries, ICICI Bank, Hindustan Unilever and Tata Steel all declined over 1 per cent on Thursday.

In contrast, Asian Paints was on top of the Sensex kitty, with a gain of over 2 per cent. HDFC Bank, Mahindra & Mahindra and Coal India too rose.

Strides Shasun closed the day nearly 3 per cent up on the BSE as it received an approval from the US health regulator for its generic Efavirenz tablet used for the treatment of HIV Type-1 infected adults and adolescents.

Most fertiliser stocks, including Nagarjuna Fertilizers, National Fertilizer, Rashtriya Chemicals & Fertilizers and Chambal Fertilisers & Chemicals, registered gains on Thursday after the Cabinet Committee on Economic Affairs (CCEA) approved continuation of urea subsidy up to 2019-20.

BSE market breadth turned positive, with 1,640 stocks advancing as against 1,045 decliners.

Ashok Leyland, Bajaj Electricals, NIIT Technologies and Tech Mahindra stood among the stocks that hit fresh 52-week highs on Thursday. Aditya Birla Capital, Electrosteel Steels and Gitanjali Gems were among those stocks that touched fresh 52-week lows.

Asian peers Hang Seng and Nikkei closed 0.34 per cent and 0.12 per cent up, respectively. Taiwan TSEC 50 Index and Shanghai SE Composite Index edged down too.

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