INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The domestic equity market snapped a four-day winning streak on Friday, as investors looked exhausted amid mixed global cues
The prevailing weakness in the rupee further soured the sentiment on Dalal Street.
Asian markets ended marginally on lack of any significant
outcome of the trade talks between the US and China.
Investors were keenly eyeing the speech by US Federal Reserve Chair Jerome Powell
scheduled for later in the day at the Jackson Hole, Wyoming for any cues regarding his stance on the pace of future interest rate
hikes.
“Market traded dull and ended marginally lower, mainly in response to feeble global cues
The trade-talk between US and China ended without any conclusion and the US President's statement in reaction to his renewed legal issues
Besides, overbought condition on local front further induced participants to book some profit of the table,” said Jayant Manglik,
President, Religare Broking.
The BSE benchmark Sensex ended the session 84.96 points, 0.22 per cent, lower at 38,251.80 with 16 stocks in
the red and the remaining 14 in the green.
The 50-share index Nifty ended the session at 11,557.10, down 25.65 points, 0.22 per cent
As may as 21 stocks out of 50 ended the session higher, whereas 28 declined while one remain unchanged.
The losses in Nifty were led by
weakness in banking, financials, auto and FMCG stocks.
Only Nifty Metal and Nifty Media index managed to end the session on a positive note
Nifty Metal index shut shop at 3,481.20, up 1.88 per cent.
Among Sensex stocks, Vedanta, ONGC, Axis Bank and Wipro gained up to 4 per
cent.
YES Bank emerged as be the top index loser and ended the day 3.52 per cent down at Rs 374.65.
Volatility index India VIX eased 3.35
percent to 12.33.
Globally, China stocks ended higher higher, aided by strength in banking shares, according to a Reuters report
European shares too edged up at the open in the wake of Chinese stocks recouping earlier losses.
