rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » Sensex snaps 4-day rising streak, slips 73 points

Sensex snaps 4-day rising streak, slips 73 points

May 03, 2018 16:52 IST

The 50-share NSE Nifty slipped below the 10,700-mark and finished at 10,679.65 -- down 38.40 points, or 0.36 per cent.

Market benchmark Sensex broke its four-day winning streak to end over 73 points lower at 35,103.14 on Thursday as investors chose to trim their positions on weak global cues ahead of talks between China and the US on their trade dispute.

 

Unabated capital outflows by foreign funds and lower-than-expected quarterly numbers by InterGlobe Aviation and some other companies too added to the caution, brokers said.

Investors kept an eye on high-level talks between China and the US on trade in Beijing on Thursday.

Back home, counters such as realty, capital goods, IT, teck, infrastructure, FMCG, consumer durables, oil and gas and auto suffered as participants pulled money off the table.

After opening higher, the 30-share Sensex quickly slipped into the red largely in line with weak Asian cues and hit a low of 35,020.08 before settling at 35,103.14, still down by 73.28 points, or 0.21 per cent.

The index had surged 675.15 points in the past four sessions, spurred by sustained buying by domestic institutional investors (DIIs) and encouraging quarterly earnings by some companies.

The 50-share NSE Nifty slipped below the 10,700-mark and finished at 10,679.65 -- down 38.40 points, or 0.36 per cent.

During the day, it shuttled between 10,720.60 and 10,647.45.

Meanwhile, on a net basis, foreign institutional investors (FIIs) sold shares worth Rs 525.93 crore, while DIIs bought shares to the tune of Rs 165.84 crore in Thursday's trade, provisional data showed.

Photograph: Danish Siddiqui/Reuters

© Copyright 2018 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.