Sensex loses 151 points, Nifty manages above 10,300; Axis Bank shines, Airtel cracks

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November 08, 2017 4:07 PM

Indian stock markets ended lower on Wednesday following mixed sentiments in the ongoing earnings season and upbeat crude oil prices.

People looking at the stock ticker of Bombay Stock Exchange. (Image: PTI)

Indian stock markets ended lower on Wednesday following mixed sentiments in the ongoing earnings season and upbeat crude oil prices. BSE Sensex lost 151.95 points or 0.46% to finish at 33,218.81 while NSE Nifty settled 47 points or 0.45% lower at 10,303.15 points. The slump in heavyweight shares such as Bharti Airtel, Tata Motors, Lupin, State Bank of India, ICICI Bank, Reliance Industries and HDFC led the key indices to end in red.

Shares of Axis Bank hit a 52-week high today and was the top gainer on BSE Sensex. The stock rose as much as 4.63% to Rs 551.55 before closing 3.41% higher at Rs 545.05. The stock of Ashok Leyland dropped 2.25% to close at Rs 119.25 even after the Hinduja Group flagship company reported a rise of 13.53% in the standalone net profit to Rs 334.25 crore for the September quarter, fuelled by higher income and increased export volumes. Bharat Forge shares ended little higher, up 1.81% at Rs 728.25 after the Auto components manufacturer reported a 60.54% jump in its standalone net profit at Rs 203.72 crore for the September quarter on account of higher income.

Other shares which gained during the day are Asian Paints, Cipla, Sun Pharma, Coal India, advanced up to 2.51% whereas  Bharti Airtel, Tata Motors, Lupin, State Bank of India, ICICI Bank and Reliance Industries lost up to 3.73% with Airtel being the major laggard.

Among the regional markets, Japan’s Nikkei 225 index shed 0.1% to 22,913.82 and Hong Kong’s Hang Seng retreated 0.3% to 28,907.6. The Shanghai Composite Index gained 2 points to 3,415.46 and Sydney’s S&P-ASX 200 added 2 points to 6,116.3. Seoul’s Kospi advanced 0.3% to 2,552.4, AP reported.

The Dow Jones Industrial Average make out a fourth consecutive record high close on Tuesday, while the S&P 500 ended marginally lower after a disappointing profit forecast from Priceline and a drop in financials, Reuters reported. The Dow Jones Industrial Average ended up 0.04% at 23,557.23 after spending most of the day in negative territory. The S&P 500 dipped 0.02% to 2,590.64. The Nasdaq Composite slipped 0.27% to 6,767.78.

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