Stock Market

Sensex sheds 180 points, Nifty slips below 11,900 amid weak global cues

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NEW DELHI: Domestic equity markets opened with marginal losses on Wednesday, continuing to consolidate as traders waited for further directions on global as well as domestic front. BSE flagship Sensex was down 184 points at 40,064 while its NSE counterpart Nifty shed 45 points to trade at 11,871 early morning. Broader markets, however, were trading with some gains as Nifty Midcap edged 0.23 per cent higher to 16,720 and Nifty Smallcap advanced 0.21 per cent to 5,760. “Excitement is missing in the market as majority of the index participants have already declared their Q2 numbers and now traders will wait for either domestic developments or global development on the trade tariff front,” said Shrikant Chouhan, Senior Vice-President, Equity Technical Research, Kotak Securities. Sectoral indices were trading mixed with Nifty Realty as the biggest gainer, rising 1.83 per cent to 272.

Finance Minister Nirmala Sitharaman on Tuesday said the realty sector will get a booster shot.

Nifty Media was another big gainer rising 1.4 per cent to 1,864. Banks, financial services and IT indices were trading with around 0.2 per cent cut in the early trade. Sun Pharma was the biggest Sensex gainer, up 3.5 per cent at Rs 444.80.

The stock rose after the firm said on Wednesday it would introduce some of its cancer treatment drugs in China through Britain’s AstraZeneca. Vedanta (up 1 per cent) and Infosys (0.8 per cent) were among index gainers.

Bharti Airtel was the biggest loser, down 1.15 per cent at Rs 379.85. On the global front, Asian shares pulled back slightly on Wednesday as investors awaited new developments toward scaling back a bruising trade war between the United States and China. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.11 per cent.

Australian shares were down 0.09 per cent, Chinese stocks drifted 0.08 per cent lower while Japan's Nikkei stock index tacked on 0.2 per cent.




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