BSE, NSE closed on account of Dussehra; Sensex, Nifty see worst losing streak since July

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Published: October 8, 2019 9:50:58 AM

The National Stock Exchange of India and BSE Limited are closed for trading on October 8, 2019, on account of Dussehra.

Sensex, Nifty50, NSE, BSE Metal Index, FPI, BSE Telecom, corporate tax rateThe headline indices Sensex and Nifty have registered their worst losing streak since July, ending lower for the 6th straight day on Monday.

The National Stock Exchange of India and BSE Limited are closed for trading on October 8, 2019, on account of Dussehra. Notably, wholesale commodity markets, and forex and commodity futures markets will also remain closed to mark the auspicious occasion. The headline indices Sensex and Nifty have registered their worst losing streak since July, ending lower for the 6th straight day on Monday. Sensex and Nifty closed lower for the sixth straight session on Monday, dragged down by losses in index heavyweights ITC, TCS, L&T, HDFC twins and Infosys amid weak global cues. The 30-share Sensex closed 141.33 points, or 0.38% down at 37,531.98. Intra-day the Sensex touched a low of 37,480.53 and a high of 37,919.47.

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The broader NSE Nifty ended 48.35 points down at 11,146.50 on Monday. ONGC, ITC, Tata Steel, M&M, Tata Motors, L&T, TCS, Sun Pharma, NTPC, IndusInd Bank and Tech Mahindra, were among the biggest losers, shedding up to 2.97% in the session. Yes Bank’s share price soared after media reports that marquee PE investors are looking to pick up a stake in the bank. Yes Bank shares gained more than 9% to hit the day’s high at Rs 45.95 on BSE. Yes Bank is in talks with three top technology companies, including Microsoft Corp, to induct one of them as a strategic shareholder as part of the bank’s strategy to get fresh capital infusion and augment its digital ambitions, Livemint reported citing sources.

Taking stock of the the markets going forward, Ajit Mishra Vice President, Research, Religare Broking said we may see some bounce due to oversold positions in the index but the bias would remain on the negative side. “We reiterate our cautious view and suggest preferring hedged trades. In the absence of any major event, earnings and global cues will dictate the market trend in days to come,” he added.

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