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Sensex, Nifty snap 4-day winning streak ahead of Bank of Japan, US Fed decisions

Benchmark indices BSE Sensex and NSE Nifty snapped a 4-day gaining streak on Wednesday on account of selling in frontline blue chip counters amid weak Asian markets.

By: | New Delhi | Updated: September 20, 2016 5:29 PM
BSE Sensex NSE Nifty gail shares Benchmark indices BSE Sensex and NSE Nifty snapped a 4-day gaining streak on Wednesday on account of selling in frontline blue chip counters amid weak Asian markets. (Reuters)

Benchmark indices BSE Sensex and NSE Nifty snapped a 4-day gaining streak on Wednesday on account of selling in frontline blue chip counters amid weak Asian markets. Market sentiments remained under pressure throughout the day after rupee opened lower against dollar as against the previous close of 66.95 per dollar. The 30-share index closed 111.30 points, or 0.39 per cent down at 28523.20, while Nifty 50 index settled 32.50 points down at 8775.90.

Among the 51-components in the Nifty index, 30 ended the day in red with Hero MotoCorp falling 2.58 per cent, followed by Adani Ports (down 2.44 per cent), Bajaj Auto (down 1.95 per cent), IndusInd Bank (down 1.76 per cent) and ACC (down 1.44 per cent). On the other hand, YES Bank, Bharti Infratel, ONGC, Eicher Motors and Hindalco gained 2.52 per cent, 1.94 per cent, 1.44 per cent, 1.39 per cent and

Barring the Metal and Oil & Gas index on BSE, rest all other sectoral indices ended the day in green. The BSE Realty index, Power index and Auto index slipped by 1.94 per cent, 0.75 per cent and 0.62 per cent, respectively.

Shreyash Devalkar, fund manager, equities, BNP Paribas Mutual Fund said, “Weakness in global stocks weighed on domestic sentiments, with Indian stock markets languishing in negative territory during the day. All eyes are now on central banks across the globe, as the US Federal Reserve mulls over the future trajectory of interest rates in the US and the Bank of Japan conducts a comprehensive review of its stimulus programme after failing to reach its 2 per cent inflation target.”

Shares of Jubilant FoodWorks remained in action throughout the day after the company accepted resignation of CEO Ajay Kaul. Shares of the company closed 6.08 per cent down at Rs 944.15.

ICICI Prudential IPO subscribed 52 per cent on the second day of offer till 5 pm.

Asian peers, Hang Seng, Nikkei and Shanghai closed lower by 0.08 per cent, 0.16 per cent and 0.10 per cent at 23530.86, 16492.15 and 3023, respectively.

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