This Article is From Mar 15, 2018

Sensex Falls Over 100 Points, Nifty Below 10,400

Top losers on the Nifty included Indian Oil, Infosys, NTPC and BPCL. Among other energy stocks, GAIL fell 0.9 per cent, ONGC was down 0.7 per cent and Reliance Industries was trading 0.6 per cent lower.

Sensex Falls Over 100 Points, Nifty Below 10,400

Indian Oil and Bharat Petroleum were among the top losers on the Nifty 50

The BSE Sensex fell as much as 102 points on Thursday dragged down by energy stocks. The BSE benchmark index Sensex touched an intraday low of 33,733 while the NSE Nifty declined 33 points to hit 10,376. Oil & gas stocks - down around 0.8 per cent in afternoon deals - weighed on the indices. Shares in the other Asian markets slipped broadly amid mounting investor concerns that growing trade tensions would hurt the global economy. MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.45 per cent.

Here are 10 things to know about Thursday's trading session:

  1. At 1:04 pm, 30 stocks on the 50-scrip NSE benchmark index were trading in the negative zone.

  2. Indian Oil, Reliance Industries, ICICI Bank, UltraTech Cement and Yes Bank - trading down between 1 per cent and 2.5 per cent - were among the top losers on the Nifty 50 index.

  3. "Markets are struggling to find their foothold, and this sideways trend is expected to continue this month... There is also some sort of portfolio shuffling," said Deven Choksey, founder, KR Choksey Investment Managers.

  4. Indian Oil Corporation (IOC) shares fell as much as 4.7 per cent to touch an intraday low of Rs 188.30 on the BSE.

  5. Among other oil & gas shares, Oil India, GAIL India, Bharat Petroleum and Reliance Industries also fell - down up to 1 per cent in afternoon deals.

  6. Global crude oil prices held steady on Thursday. US West Texas Intermediate (WTI) crude futures rose 17 cents, or 0.3 per cent, to $61.13 a barrel while Brent crude futures were at $65 per barrel, up 11 cents, or 0.2 per cent.

  7. Crude oil prices were receiving support from healthy demand.

  8. The Organization of the Petroleum Exporting Countries (OPEC) said on Wednesday that oil consumption was expected to grow by 1.62 million barrels per day (bpd) in 2018.

  9. Wipro shares fell 3 per cent to hit an intraday high of Rs 302. On Wednesday, Bengaluru-based Wipro said it had signed a definitive agreement to divest its hosted data centre services business to Ensono for $405 million. Ensono is a hybrid IT services provider based in Illinois, US. The acquisition is subject to customary closing conditions and regulatory approvals and is expected to close in the quarter ending June 2018, Wipro said.

  10. Fertiliser stocks rose, a day after the government decided to continue a urea subsidy scheme till 2020 and implemented the direct benefit transfer (DBT) scheme. National Fertilizers, Rashtriya Chemicals and Fertilizers and Madras Fertilizers rose around 4-6 per cent. 

  11. Equities in the other Asian markets took their cues from Wall Street, where key indices fell for the third straight session overnight after US President Donald Trump sought to impose fresh tariffs on China, intensifying fears of a trade war.

(With agency inputs)

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