Sensex, Nifty trade lower on weak global cues, IndiGo shares sink 13%

Alonzo Simpson
May 3, 2018

BSE benchmark Sensex rose almost 200 points in opening trade today only to turn cautious tracking negative global cues ahead of the US Federal Reserve policy announcement scheduled later in the day.

The 30 share barometer opened above 80 points but turned negative on profit-booking to lose 86.59 (0.22 percent) lower at 35089.83.

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.

Indian shares fell modestly on Thursday, tracking weak global markets as the U.S. Federal Reserve signaled further gradual increases in the federal funds rate and investors awaited the outcome of Sino-U.S. trade talks.

Hong Kong's benchmark Hang Seng index dropped 1.2 percent to close at 30,313.37 and South Korea's Kospi dipped 0.7 percent to end at 2,487.25.

On the positive side, Axis Bank, NTPC, Tata Steel, Infratel and Sun Pharma climbed 2-4 percent.

HCL Tech (-7%), UPL (-3.1%), Tech Mahindra (-1.8%), Kotak Bank (-1.7%) and L&T (-1.4%) were the top losers in today's trade.

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PC Jeweller topped the value chart on the BSE with a turnover of Rs. 1,277.66 million.

Minutes into trading, it was quoting at 35,156.56 points, down by 19.86 points, or 0.06 per cent after taking cue from global markets.

Meanwhile, domestic institutional investors (DIIs) bought shares worth a net of Rs 261.98 crore, while foreign portfolio investors (FPIs) sold shares worth a net of Rs 385.47 crore on Monday, provisional data showed.

Financial markets were shut yesterday on account of "Maharashtra Day".

Shares of InterGlobe Aviation, the operator of IndiGo carrier, slumped 10 per cent after it posted a 73 percent plunge in profit on Wednesday.

Hero MotoCorp too fell by 1.91 per cent as company's April sales data failed to cheer investors.

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