Published: Fri, May 18, 2018
Worldwide | By Victor Meyer

Sensex Falls 100 Points, Nifty Near 10650; Wipro Shares Down 2%

Sensex Falls 100 Points, Nifty Near 10650; Wipro Shares Down 2%

Crude oil prices went past the $80 per barrel mark on Thursday.

Intra-day, the Sensex surged 437 points to touch a high of 35,993.53. The 30-share BSE index hit a high of 35993.53 in morning trade. This is the benchmark's lowest closing since May 4 when it had closed at 34,915.

Trend at other Asian markets, however, was better as investors kept a cautious watch on developments in US-China trade negotiations.

At 2.27 p.m., the wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading at 10,787.30 points - down 19.30 points or 0.18 per cent - from the previous close of 10,806.50 points.

Foreign portfolio investors (FPIs), who have been net sellers in the past few sessions, sold shares worth a net Rs 518.47 crore, while domestic institutional investors (DIIs) bought shares worth Rs 531.33 crore yesterday, according to provisional data. "Given the rise in oil prices and higher yields, valuation multiples are not going to grow sharply from now on, so markets will rely on earnings revival".

All sectoral sub-indices with the exception of Nifty Metal, which was down more than half a per cent, were in the green.

More news: First Lady Melania Treated for Benign Kidney, Surgery Successful

On the other hand, consumer durables rose 1.37%, realty 0.41%, infrastructure 0.28%, capital goods 0.24% and oil and gas 0.08%.

Voltas fell about 7.66%, the most in over 18 months post reporting its quarterly results where the company saw its profits declining.

"Broad market indices like the BSE mid-cap lost less, thereby outperforming the main indices".

Shares of Reliance Communications, after Wednesday's plunge, staged a strong comeback by rising 56.87% on reports of settlement talks with Ericsson.

Japan's Nikkei advanced 0.25 per cent, while Hong Kong's Hang Seng was up 0.22 per cent in early trade. The Small-Cap indexadvanced 0.43 pc.

Like this: