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October 17, Tuesday 2017 7:41 AM       

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       BUSINESS Next Article: Forbes terms Patanjali's Acharya Balkrishna as 19th richest Indian  
       Sensex takes first hit in five days as fatigue catches up
 
         Posted on :18:02:42 Oct 5, 2017
   
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       Last edited on:18:02:42 Oct 5, 2017
         Tags: Sensex takes first hit in five days as fatigu
 

MUMBAI: The slip Thursday showed up for the market after a four-day winning spell when the Sensex ended with losses and the Nifty settled below the crucial 9,900 as investors jostled to take money off the table.

Concerns about foreign capital flying out remained.

On the macro front, services sector activity expanded for the first time in three months in September -- but only slightly. The Nikkei India Services PMI stood at 50.7 in September -- from 47.5 in August.

The BSE 30-share index after a positive opening stretched to 31,772.41, but could not stay there for long buffeted by the selling pressure. It hit a low of 31,562.25 before settling lower by 79.68 points, or 0.25 per cent, at 31,592.03.

The index, which rose 174 points yesterday after the Reserve Bank decided to hold rates in line with expectations, had gained 512 points in the previous four sessions.

Reflecting the volatile trend, the NSE Nifty after shuttling between 9,945.95 and 9,881.855, closed down 26.20 points, or 0.26 per cent, at 9,888.70.

"Market traded range bound with a negative bias due to lack of optimism to the upcoming earnings season. However, some positive development in auto sales numbers, core sector growth and festival demand will add some light over the consolidation phase," said Vinod Nair, Head of Research, Geojit Financial Services Ltd.

Outcome of tomorrow's GST Council meeting is also seen to decide the direction of the market in the short run.

Domestic institutional investors (DIIs) purchased shares net Rs. 584.88 crore while foreign portfolio investors (FPIs) dumped equities worth of Rs. 632.14 crore yesterday, showed provisional data.

In stock-specific movement, PowerGrid took the biggest knock plunging 1.99 per cent to Rs. 204.85 while ICICI Bank lost 1.54 per cent to Rs. 271.75. Bajaj Auto, Hero MotoCorp, HDFC Ltd and Sun Pharma also bogged down the key BSE index.

NTPC, Coal India, M&M and RIL made headway, limiting the damage.

The BSE telecom index fell the most by 0.71 per cent.

Others such as oil and gas, consumer durables and FMCG too suffered losses.

The broader markets gave a better account of themselves -- the small-cap index was up 0.79 per cent and mid-cap 0.49 per cent.

Financial markets in China, Hong Kong and South Korea were shut today for public holidays. Japan's Nikkei ended flat.

European shares took a mixed line in the early session.

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       BUSINESS
Next Article: Forbes terms Patanjali's Acharya Balkrishna as 19th richest Indian
 
 
BUSINESS HEADLINES
Reliance Retail to be biggest threat to Amazon, Flipkart: Pai  
India undergoing 'exciting digital transformation: IMF  
Sensex hits new peak of 32,687.32; Nifty at 10,242.45 pts  
Digital India to contribute 30pct to India's GDP by 2025  
Bring real estate under GST: Sisodia writes to Jaitley  
IMF favors three structural reforms in India  
India must go for pollution-free methanol as fuel: Gadkari  
Indian Railways to start cheaper, faster Rajdhani between Delhi-Mumbai  
Help young entrepreneurs to set up startups: AP IT Minister Lokesh to officials  
Madhya Pradesh slashes VAT on petrol by 3%, diesel by 5%  
Sensex climbs 211 pts on positive economic data points  
RBI sets rupee reference rate at 65.1003 against US dollar  
Bringing real estate under GST will be a 'disaster': Congress  
Sensex soars 348 pts, all eyes on macro data  
Govt to discuss bringing real estate under GST in Nov: Jaitley  
Sensex moves up 113 pts, Nifty climbs above 10,000  
Direct tax collections for FY 2017-18 up by 15.8 per cent  
India seeks global investments in energy sector: Dharmendra Pradhan  
Sensex ends with losses, fails to keep early lead  
Gujarat cuts VAT on petrol, diesel; Cong sees poll angle  
Sensex starts off high, Nifty regains 10k mark  
Revival of gas power plants to boost consumption: Pradhan  
MFs bet most on government securities: ASSOCHAM  
Idea Cellular tops Trai's 4G upload speed rankings in Sep  
Jaitley headed for US for IMF-World Bank meets  
 
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