Sensex Falls Over 100 Points, Nifty Struggles Below 10100

According to market observers, investors were cautious ahead of the US Federal Reserve's meet on March 20-21. Investors also have been worrying this month about a potential global trade war, triggered by the Trump administration moving ahead with tariffs on foreign steel and aluminum.

The markets ample gains during start of the week on illusion of receding trade war fears and strength of the United States economy witnessed a trend reversal despite the country's positive macro-datas of CPI and WPI inflation, robust Industrial production (IIP) as well as World Bank prediction of India's growth of 7.3 per cent in FY19. Metal stocks bore the brunt after prices of base metals dropped in global markets.

Equity markets in Tuesday's early trade got off to a choppy start as Sensex dipped nearly 100 points before paring the losses.

The Sensex started the week with a smart rise of 33,468.16 and hovered between 34,077.32 and 33,119.92, it closed the week at 33,176.00, showing a fall of 131.14 or 0.39 per cent.

The NSE Nifty50 declined by 165 points or 1.59 per cent to close at 10,195.15 points, while the Sensex closed at 33,176 points - down 509.54 points or 1.51 per cent from the previous session's close.

Out of 2,013 stocks traded on the NSE, 658 advanced, 899 declined and 456 remained unchanged today.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth Rs 292.23 crore on net basis, while domestic institutional investors (DIIs) sold equities to the tune of Rs 191.52 crore yesterday, provisional data showed.

The broader midcap and smallcap company shares outperformed the key indices. All the sectoral indices led by metal, oil & gas, energy, PSU, power and banking ended in the negative zone with losses of up to 2.30 per cent.

Barring seven stocks, the rest of Sensex shares ended in the red. Among stocks, Coal India was the biggest loser in the Sensex pack last week.

Tata Steel, Adani Ports, Tata Motors and Infosys were among the top gainers, rising up to 3 percent.

Related Articles