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Sensex, Nifty decline ahead of IIP

On Tuesday domestic equities ended in the negative terrain for the fourth straight session. The BSE benchmark Sensex also falls over 200 points as investors intensified selling towards the fag end of the day, even as global cues remained positive.

Investors sold heavily on reality, IT, FMCG and banking counters ahead of index of industrial production (IIP) data for December and consumer price inflation (CPI) numbers for January to be released later in the day.

After opening on a positive note, the BSE Sensex advanced to hit an intraday high of 36,465.40 points in opening trade, driven by a firming trend at other Asian markets.

However, indices failed to hold on to gains as profit-taking re-emerged in the later part of the session, wiping off initial gains, with the BSE Sensex settling 241.41 points, or 0.66%, down at 36,153.62 points.

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The gauge had lost 580 points in the previous three sessions.

The broader Nifty, after touching a high (intra-day) of 10,910,90 points, finished at 10,831.40, down 57.40 points, or 0.53%. It also touched a low of 10,823.80 during the day.

Hero MotoCorp, HDFC, SBI, Infosys, HCL Tech, ICICI Bank, Bajaj Finance, ONGC, Bajaj Auto and IndusInd Bank were the top losers whose shares fall up to 2.63%.

On the other hand, Sun Pharma, Coal India, Tata Steel, NTPC, Asian Paints, Vedanta, M&M and RIL were the top gainers whose share rose up to 2%.

Globally, Asian markets ended higher as investors looked to a new round of U.S.-China trade talks as the world’s two largest economies would try to resolve the ongoing tariff tiff.

 Vinod Nair, Head of Research, Geojit Financial Services said: “Global trade deal and risk of a slowdown in growth continue to give caution, while investors remain focused on CPI inflation and IIP data to get some direction.”

According to provisional data showed a net basis, foreign portfolio investors (FPIs) sold shares worth Rs.125.05crorese, while domestic institutional investors (DIIs) offloaded shares worth Rs.232.55 crore.

 

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