Sensex reverses 3-week winning run, slides 129 pts
.jpg)
In a volatile trade, the benchmark BSE Sensex snapped its last 3-week gaining streak, ending lower 129 points at 27,828.44 due to selling pressure in view of May futures and options expiry and ahead of RBI’s policy meet next week.
The Nifty, too, fell 25.30 points, or 0.30 per cent, to settle at 8,433.65.
Trading for the week began on a negative note. Telecom, cement and pharma stocks led the rally as key benchmark indices surged on the last trading session of the week.
Veracity Group CEO Pramit Brahmbhatt said, “This week, local equities traded between gains and losses. To start the week, it was in a bearish mode and traded low for the three days.”
Price-sensitive shares turned weak on fears of an earlier-than-expected US rate hike as Federal Reserve Chair Janet Yellen recently indicated that the US central bank may raise interest rates this year if economy improves as expected.
Also, lower-than-expected earnings from some large caps came as a spoiler.
However, the indices recovered almost all the losses at the end the week as blue-chips gained on value-buying and short-covering and closed near their previous close on a slightly weaker note.
Meanwhile, Foreign Portfolio Investors net bought shares worth Rs 2,106.98 crore during the week, according to provisional data.
Other Latest News
.webp)
For Samsung Group, this has been a year of milestones. First, a rare public apology from its flagship Samsung Electronics Co., followed by a bumper share buyback. And now, South Korea’s biggest conglomerate has named a woman that’s not member of its founding family as chief executive officer of a group company for the first time in its 86 years.
In a country where women business leaders have long struggled to make inroads into corporate boards and C-suites, the appointment of Kim Kyung-Ah as president and CEO of Samsung Bioepis Co. is a story likely to inspire the next generation of executives.
.webp)
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.
.webp)
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.
.webp)
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.
.webp)
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.
.webp)
.webp)
.webp)
.webp)
.webp)
