Sensex down 95 pts, Nifty below 10750 in late morning trade

Pauline Gross
May 18, 2018

On a weekly basis, the Sensex lost 687.49 points, or 1.93 per cent, while the Nifty tumbled 210.10 points, or 1.94 per cent - their biggest fall since the week ended March 9.

Stocks suffered modest losses as Brent crude oil prices moved nearthe United States dollars 80 per barrel mark as supplies tightened and demand remained strong.

"Whether or not the BJP forms a government in Karnataka, the swift alliance between Congress and JD (S)-to keep the BJP out of power-is a stark reminder of the coming threat from a third front coalition of disparate regional parties in the 2019 general elections".

Meanwhile, the benchmark BSE Sensex rose 122.13 points, or 0.34 per cent, to 35,510.01 in morning trade.

The Nifty of National Stock Exchange (NSE) too fell by 58.40 pointsto 10,682.70. During the session, it moved between 10,589.10 and 10,674.95.

Mumbai: The equity markets closed lower for the second consecutive day as the lingering uncertainty over the composition of the next government in Karnataka along with weakness in global stocks impacted sentiments.

"As on date Q4 results came below estimate which may cause downgrade in FY19 estimates".

John Oliver Rips Into 'Total Moron' Michael Cohen Over Consulting Scandal
Cohen and his wife, Laura, built up a substantial taxi business in NY on the back of their 32 taxi licenses, known as medallions. I'm his personal lawyer. "It's like a doctor saying: if you hire me, I'll tell you about all of Larry King's birthmarks".

Man rants about Spanish-speaking cafe workers
The fast-casual restaurant, Fresh Kitchen , opened a month ago and is across the street from the lawyer's office. The manager tried to diffuse the situation by saying that sometimes the workers do speak Spanish.

Locked on Clippers: Draft Lottery Provides Clippers with Plenty of Options
The second pick will to the Sacramento Kings , while the Atlanta Hawks will go third in the draft, which takes place on June 21. The team has been rebuilding for far too long as they are now in their longest playoff drought in franchise history.

Indian markets could continue to be volatile in the short term on the back of rising oil prices.

After easing for three months, India's retail inflation shot up to 4.58 per cent in April, which may turn the Reserve Bank of India more hawkish.

So far, the major gainers on the BSE were Coal India, Tata Motors, Wipro, Tata Motors (DVR) and Hindustan Unilever, while Tata Steel, HDFC, Dr Reddy's Lab, Bharti Airtel and Reliance Industries were the major losers.

The sectoral indices like Materials, FMCG, Finance, Bankex and Powerfell that pulled the market down today.

Overseas, other Asian markets were mixed amid caution over developments in US-China trade negotiations.

Hong Kong's Hang Seng advanced 0.22 percent while Japan's Nikkei was up 0.25 percent in early trade. The Bank Nifty fell 0.41%.

Other reports by GizPress

Discuss This Article

FOLLOW OUR NEWSPAPER