Sensex ends 160 points lower at close, Nifty below 10,500 ahead of December GDP data
The BSE Sensex slumped 162.35 points, or 0.47 to end the day at 34,184.04, while the broader NSE Nifty 50 settled the day below the 10,500-mark at 10,492.85, down 61.45 points, or 0.75% ,as investors turned cautious ahead of December GDP data to be released later in the day.
BUSINESS Updated: Feb 28, 2018 16:04 IST
Benchmark stock indices BSE Sensex and NSE Nifty 50 turned cautious on Wednesday, as investors await key macroeconomic data due later in the day, amid a weak trend in other Asian markets.
Sustained capital outflows and weakening rupee against the US dollar also weighed on sentiments.
The BSE Sensex slumped 162.35 points, or 0.47 to end the day at 34,184.04. The index had lost nearly 100 points in the previous session. All but four sectoral indices closed the day in the negative territory, led by fall in metals, bank and finance stocks.
The broader NSE Nifty 50 settled the day below the 10,500-mark at 10,492.85, down 61.45 points, or 0.75%
Unwinding of positions in blue-chip stocks by investors ahead of index of industrial production (IIP) numbers for February and December quarter GDP growth numbers, to be released after market hours on Wednesday, weighed on stocks, brokers said.
Meanwhile, Asian stocks fell across the board following a sharp pullback in US equities after US Fed chair Jerome Powell revived worries about a sharp increase in interest rates. A weaker-than-expected economic data from China and Japan also dampened market sentiment.
| Read: Highlights from Jerome Powell’s first Fed chair testimony which moved the markets
Major losers were Hindustan Unilever, ICICI Bank, Sun Pharma, M&M,SBI, Axis Bank and Yes Bank, with losses of up to 2.02%.
Intra-day, shares of Punjab National Bank slumped over 6% and fell to a 20-month low.The stock was, however, up by 3.10% at Rs101.40.
Foreign portfolio investors (FPIs) sold shares worth a net of Rs 906.86 crore, while domestic institutional investors (DIIs) bought shares worth a net Rs 1,046.67 crore on Tuesday, provisional data showed.
The US Dow Jones Industrial Average ended 1.16% lower on Tuesday.