Mumbai, Nov 17: Equity benchmark Sensex dropped 314 points on Wednesday tracking losses in index majors Reliance Industries, HDFC twins and Kotak Bank.
The 30-share index ended 314.04 points or 0.52 per cent lower at 60,008.33, extending losses for the second straight day. Similarly, the Nifty fell by 100.55 points or 0.56 per cent to 17,898.65.
Axis Bank was the top loser in the Sensex pack, shedding around 2 per cent, followed by Reliance Industries, Kotak Bank, Bharti Airtel, Titan, Dr Reddy’s and M&M.
On the other hand, Maruti, Asian Paints, PowerGrid and NTPC were among the gainers.
Elsewhere in Asia, bourses in Hong Kong, Tokyo and Seoul ended with losses, while Shanghai was positive.
Stock exchanges in Europe were largely trading with gains in mid-session deals.
Meanwhile, international oil benchmark Brent crude fell 0.90 per cent to USD 81.69 per barrel. (AGENCIES)
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BIZ-GOLD-PRICE
Gold declines Rs 402; silver tumbles Rs 528
NEW DELHI, Nov 17:
Gold in the national capital on Wednesday declined by Rs 402 to Rs 48,116 per 10 gram, according to HDFC Securities.
In the previous trade, the precious metal had settled at Rs 48,518 per 10 gram.
Silver also dipped Rs 528 to Rs 65,218 per kilogram from Rs 65,746 per kilogram in the previous trade.
In the international market, gold trading higher at USD 1,857 per ounce and silver marginally up at USD 25.03 per ounce.
“Gold prices traded firm with spot gold prices at COMEX were trading 0.37 per cent up at USD 1,857 per ounce on Wednesday,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel. (AGENCIES)
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BIZ-RUPEE-CLOSE
Rupee gains 9 paise to end at 74.28 against US dollar
Mumbai, Nov 17:
The rupee pared initial losses to settle 9 paise higher at 74.28 (provisional) against the US dollar on Wednesday, despite a muted trend in domestic equities.
At the interbank forex market, the local unit opened on a weak note at 74.51 against the greenback and later settled at 74.28, higher by 9 paise over its previous close of 74.37.
The local unit moved in a range of 74.25 to 74.51 in the day trade.
According to Emkay Global Financial Services, there are no fresh triggers in the forex market and the USDINR spot is stuck with in a tight range of 74.20-74.55.
“It is a truncated week, with inflation playing a major hindrance to the risk appetite. So, the only focus remains on whether Fed members’ express their worry over inflation, supporting the uptrend in DXY. But overall we expect the spot to continue trading in between 74-74.65,” it said.
On the domestic equity market front, the BSE Sensex ended 314.04 points or 0.52 per cent lower at 60,008.33, while the broader NSE Nifty declined 100.55 points or 0.56 per cent at 17,898.65.
Brent crude futures, the global oil benchmark, fell 0.87 per cent to USD 81.71 per barrel.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading higher by 0.03 per cent at 95.94.
Foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 560.67 crore, according to exchange data. (AGENCIES)
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