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Sensex snaps 5-day rally; ekes out weekly gain : The Tribune India



Mumbai, August 19

BSE benchmark Sensex nursed losses on Friday as traders pocketed positive aspects after a five-session profitable streak amid a bearish development abroad. A depreciating rupee and overseas fund outflows additional soured threat sentiment, merchants stated.

The index, which had began the commerce on a agency be aware, quickly gave up all of the positive aspects and at last ended 651.85 factors decrease at 59,646.15. The NSE Nifty snapped its eight-day rally to shut at 17,758.45, down 198.05 factors or 1.10%.

IndusInd Bank was the highest laggard within the Sensex pack, dropping 3.82%, adopted by Bajaj Finserv, Bajaj Finance, Tata Steel, SBI, NTPC, Maruti, Reliance Industries and HUL. Only three counters managed to shut within the inexperienced — Larsen & Toubro, Infosys and TCS — climbing as much as 2.20%.

“Profit-booking amid weak global cues impacted domestic indices as concerns about interest rate hikes hung over the markets,” stated Vinod Nair, Head of Research at Geojit Financial Services.

“The recent rally of the dollar index and FIIs turning net sellers has surprised bulls. Broad-based selling was witnessed with the index heavyweights dragging the index further down,” he added.

Source: www.tribuneindia.com

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