This Article is From Mar 22, 2019

Sensex Snaps Eight-Day Winning Streak Led By Declines In RIL, HDFC Bank

S&P BSE Sensex snapped its eight-day winning streak led by declines in RIL, HDFC Bank, State Bank of India, Kotak Mahindra Bank and Maruti Suzuki.

Sensex Snaps Eight-Day Winning Streak Led By Declines In RIL, HDFC Bank

S&P BSE Sensex declined 222.14 points or 0.58 per cent to close at 38,164.61.

The BSE benchmark index - S&P BSE Sensex - snapped its eight-day winning streak led by declines in Reliance Industries, HDFC Bank, State Bank of India, Kotak Mahindra Bank and Maruti Suzuki. The S&P BSE Sensex and NSE Nifty 50 indexes opened higher but gave up gains in the first one hour of trade after oil & gas and energy sector shares came under selling pressure. The S&P BSE Sensex fell as much as 475 points from intraday high of 38,564.71 to a low of 38,089.36, and the Nifty touched an intraday high of 11,575.80 and a low of 11,434.55 during the session.

Here are 10 things to know:

  1. The S&P BSE Sensex declined 222.14 points or 0.58 per cent to close at 38,164.61 and the NSE Nifty 50 Index fell 0.56 per cent or 64.15 points to settle at 11,456.90.

  2. The rupee appreciated to as much as 68.53 against the dollar on Friday. Continued foreign fund inflows supported the rupee in the forex markets, say analysts.

  3. Fourteen of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Energy Index's 2 per cent decline. Oil & Gas, Telecom, Auto and Banking indexes on the BSE also dropped between 0.75 and 1.42 per cent each.

  4. On the flipside, S&P BSE Power Index was top gainer, up 0.85 per cent. Realty and Utilities indexes also rose 0.70 and 0.50 per cent respectively.

  5. Mid- and small-cap shares also faced selling pressure as the S&P BSE MidCap Index fell 0.59 per cent and the S&P BSE SmallCap Index dropped 0.44 per cent.

  6. From the Nifty 50 basket of shares, 31 ended lower while 19 closed higher on the BSE.

  7. Bharat Petroleum, Bharti Infratel, Tata Motors, Hindustan Petroleum, Indian Oil, Reliance Industries, Zee Entertainment and State Bank of India were among losers in the Nifty 50 basket of shares.

  8. On the other hand, NTPC, Larsen & Toubro, Asian Paints, JSW Steel, Infosys, Coal India and Tata Steel were among gainers in the Nifty 50 basket of shares.

  9. Among the individual shares, SpiceJet surged 7 per cent to Rs 98.10 on the BSE. The company said on Friday it was in talks with lessors globally to induct aircraft, in an effort to fill a gap after the grounding of its MAX fleet.

  10. Meanwhile, Fitch Ratings on Friday cut India's GDP growth forecast for the next fiscal year to 6.8 per cent from 7 per cent estimated earlier on weaker than expected economic momentum. In its latest Global Economic Outlook, Fitch also slashed GDP growth forecast for current fiscal year ending March 2019 to 6.9 per cent from 7.2 per cent projected in the December edition.

(With agency inputs)



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