Published: Thu, March 15, 2018
World | By Melba Underwood

Sensex down 150 points in opening trade, Nifty slips below 10400

Sensex down 150 points in opening trade, Nifty slips below 10400

However, analysts said that Indian markets will focus on key macro data expected to be released this week.

Though it gave up some of the gains, it ended at a one-week high of 33917.94, up 610.55 points, or 1.83 per cent.

The broader Nifty finished at 10,421.40, up 194.55 points, or 1.90 per cent with 47 of its components closing with gains.

The Sensex, after a gap down opening at 33,733.55 continued its slide to touch a low of 33,580.69.

Gitanjali gems came under heavy selling pressure and lost about 5 per cent to close at Rs 14.30.

Metal Index has fallen the most on NSE with Jindal Stainless Hisar (-2%), Welcorp (-1.8%) and MOIL (-1.7%) pulling it down by 0.8%.

Other laggards included HDFC, Bajaj Auto, Bharti Airtel, Wipro, M&M, Coal India, Power Grids, Sun Pharma, ITC, TCS, Asian Paints, Kotak Bank and RIL, falling up to 0.91%.

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Auto stocks rose after domestic passenger vehicle sales increased by 7.77 per cent to 2,75,329 units in February.

ONGC, Hero MotoCorp, HPCL, Infratel and International Olympic Committee fell 2-3 percent in the Nifty pack, while UltraTech Cement, Yes Bank, Bajaj Finance, Ambuja Cement and Tech Mahindra rallied 2-3 percent. The news came as a huge relief to investors as it suggested stability in the United States economy.

Global markets staged a recovery after data from the USA showed that the country added 3.13 lakh jobs in February. "The gains came on the back of positive global equity markets as worldwide trade-war concerns took a backseat to economic optimism following a stronger United States jobs report released over the weekend", Deepak Jasani, Head - Retail Research, HDFC Securities, told IANS.

In Asia, Hong Kong's Hang Seng was down 0.16 per cent, Japan's Nikkei fell 0.16 per cent and China's Shanghai Composite index slipped 0.17 per cent in early trade.

Mumbai: The benchmark BSE Sensex turned choppy on tepid cues from overseas market, despite positive macroeconomic data and appreciating rupee.

Metal stocks such as Vedanta, Jindal Steel, SAIL, Hindalco, Tata Steel, JSW Steel, National Aluminium, NMDC and Hindustan Zinc gained up to 4.43 per cent.

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