BSE Sensex falls 180 pts on selling pressure in banking, FMCG stocks
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The S&P BSE benchmark Sensex was trading 180 points lower in afternoon trade due to selling in Banking and FMCG sectors despite buying in Capital Goods, Consumer Durable and IT sectors.
The Sensex opened lower at 29,143.63 and dropped further to 29,002.40 on weak Asian cues coupled with foreign capital outflows before quoting at 29,142.45 at 1100hrs, still showing a loss of 40.50 points or 0.14 per cent from its last weekend’s level.
The CNX 50-share Nifty also moved down by 51.30 points or 0.58 per cent to 8,757.60 at 12.30 pm
Major losers were Dr Reddy’s Lab (2.42 pct), Coal India (2.24 pct), HUL (1.97 pct), Bajaj Auto (1.92 pct), Icici Bank (1.70 pct), Bharti Airtel (1.68 pct), HDFC Bank (1.25 pct) and ITC (1.25 pct).
However, Sun Pharma at 2.45 pct, Hindalco 2.11 pct, Maruti 2.11 pct, Wipro 1.73 pct, Larsen 1.53 pct, M&M 1.50 pct and Cipla 1.26 pct showed a rise.
Foreign portfolio investors sold shares worth a net Rs 771.55 crore on last Friday as per provisional data.
Asian equity markets were trading lower as data showing China’s manufacturing sector remaining in a poor state dampened investors’ spirit. Key indices in China, Hong Kong, Japan, South Korea, and Indonesia were off 0.11 pct to 1.16 pct while indices in Taiwan and Singapore were up 0.09 pct to 0.54 pct.
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As cyclone 'Fengal' approaches Tamil Nadu, several parts of the capital Chennai will face a five-our power cut on Wednesday and Thursday, i.e., November 27 and 28 due to the maintenance work.
The power cut in Chennai will take place between 9 a.m. to 2 p.m., said a report by dtnext.in, adding that it may be restored if the maintenance work is completed.
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Oil producers in Canada and Mexico will likely be forced to reduce prices and divert supply to Asia if US President-elect Donald Trump imposes 25 per cent import tariffs on crude imports from the two countries, traders and analysts said.
Two sources familiar with Trump's plan told Reuters that oil would not be exempted from potential tariff hikes on imports from Canada and Mexico even as the US oil industry has warned the policy could hurt consumers, industry and national security.
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Congress leaders from Wayanad handed over the election certificate of the parliamentary by-election to party general secretary Priyanka Gandhi Vadra in the presence of Rahul Gandhi here on Wednesday.
Sources said Priyanka Gandhi is likely to take oath in the Lok Sabha on Thursday.
Leaders from Wayanad handed over the election certificate of the Wayanad parliamentary by-election to Priyanka Gandhi and conveyed their best wishes.
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The Enforcement Directorate on Wednesday conducted searches at multiple locations in Delhi and adjoining areas as part of an alleged bank loan fraud linked money laundering probe against former promoters of liquidated dairy major Kwality Ltd, official sources said.
About a dozen places are being raided under the provisions of the Prevention of Money Laundering Act (PMLA), the sources said.
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