MUMBAI: After a wide-ranging movement, the BSE Sensex ended in losses for the third straight session today, down nearly 40 points, as rising crude oil prices after US-led strikes on Libya raised inflationary concerns.
Global stock markets, however, remained firm. The Bombay Stock Exchange 30-share barometer opened higher and improved further to cross the 18K-mark, touching 18,007.73 on strong Asian cues in afternoon deals.
Stabilising of the Fukushima atomic power plant in northeastern Japan, hit recently by earthquake and tsunami, aided the rebound in world stocks.
However, air-strikes by Western forces on Libya as well as unrest in other neighbouring countries pushed up global crude oil prices, which weighed on market sentiment and the Sensex closed at 17,839.05,down 39.76 points or 0.22 per cent.
In last two sessions, it had tumbled by nearly 480 points or 2.61 per cent.
The NSE 50-issue Nifty index also softened by 8.95 points or 0.17 per cent to end at 5,364.75.
Selling in index-based counters like Infosys, Hindalco, TCS, L&T, Wipro, Hero Honda and Maruti Suzuki weighed down the market. However, buying in HDFC, Jindal Steel, M&M and Tata Steel cushioned the Sensex fall.
Rising global crude oil prices to nearly USD 103 a barrel in New York worried the market participants, expecting another round of hike in key interest rates to contain high inflation.
"After two straight sessions of selling, the Indian markets ended on (nearly) a flat note, amid choppy trades. FII selling in the past couple of sessions, plus the threat of inflation and hardening of interest rates could be among the pressure points that are keeping investors in India on tenterhooks," said IIFL Head of Research (India Private Clients) Amar Ambani.
toi
Global stock markets, however, remained firm. The Bombay Stock Exchange 30-share barometer opened higher and improved further to cross the 18K-mark, touching 18,007.73 on strong Asian cues in afternoon deals.
Stabilising of the Fukushima atomic power plant in northeastern Japan, hit recently by earthquake and tsunami, aided the rebound in world stocks.
However, air-strikes by Western forces on Libya as well as unrest in other neighbouring countries pushed up global crude oil prices, which weighed on market sentiment and the Sensex closed at 17,839.05,down 39.76 points or 0.22 per cent.
In last two sessions, it had tumbled by nearly 480 points or 2.61 per cent.
The NSE 50-issue Nifty index also softened by 8.95 points or 0.17 per cent to end at 5,364.75.
Selling in index-based counters like Infosys, Hindalco, TCS, L&T, Wipro, Hero Honda and Maruti Suzuki weighed down the market. However, buying in HDFC, Jindal Steel, M&M and Tata Steel cushioned the Sensex fall.
Rising global crude oil prices to nearly USD 103 a barrel in New York worried the market participants, expecting another round of hike in key interest rates to contain high inflation.
"After two straight sessions of selling, the Indian markets ended on (nearly) a flat note, amid choppy trades. FII selling in the past couple of sessions, plus the threat of inflation and hardening of interest rates could be among the pressure points that are keeping investors in India on tenterhooks," said IIFL Head of Research (India Private Clients) Amar Ambani.
toi
No comments:
Post a Comment