Sensex down 150 points, Nifty slips below 10400

Violet Powell
March 15, 2018

The Sensex has so far touched a high of 33,800.04 points and a low of 33,610.37 points during the intra-day trade. During the day, the barometer swung nearly 295 points (both sides).

Nifty of National Stocks Exchange (NSE) too advanced by 96.10 points to 10,322.95.

Stock markets opened in the red on Tuesday but managed to recover within minutes of trading.

Brokers said fresh buying by investors ahead of inflation data improved the market sentiment. Market participants are cautiously awaiting Consumer Price Index (CPI) and Index of Industrial Production (IIP) data. This is the biggest single-day gain since March 2016.

Yesterday, RBI barred banks from issuing guarantees in the form of letters of undertaking (LoU) as it clamped down on the import financing route following the alleged PNB fraud. Shares like Bharti Airtel, Vedanta, ITC, Hindalco, and NTPC gained about four percent.

Air Canada computer troubles leads to flight cancellation at YYJ
The issues were resolved shortly after 2:00 p.m., but customers were left reeling from the technical meltdown. A similar message was posted on the carrier's official Facebook page an hour later.

The benchmark BSE Sensex drifted 150 points lower and the NSE Nifty slipped below the 10,400-mark in early deals today on selling in metal, PSU and realty counters amid weak global cues.

Other prominent gainers included Tata Steel, Axis Bank, ICICI Bank, Yes Bank, Adani Ports, ONGC, Wipro, IndusInd Bank, HDFC, Infosys, RIL, HUL, L&T, Sun Pharma, Kotak Bank, Dr Reddy's, HDFC Bank, TCS and Asian Paints.

Coal India: Coal India shares slipped by almost 1 percent towards the closing of trade after brokerage firm Citi downgraded the stock to Neutral from Buy and lowered its target price to Rs320 a share from Rs365 earlier.

Sector-wise, the BSE oil & gas index suffered the most by falling 0.94%, followed by realty (0.52%), metal (0.48%), FMCG (0.28%), power (0.17%), capital goods (0.10%), auto 0.09 and PSU 0.08%.

Meanwhile, the BSE mid cap and small cap indices were trading with minor gains of 0.06% and 0.11% respectively. Shanghai Composite gained 0.59 per cent, Singapore up 0.97 per cent, Hong Kong's Hang Seng edged higher 1.93 per cent and Japan Nikkei up 1.65 per cent. France CAC, Germany DAX, and Britain FTSE are up 0.3 percent each.

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