Home Business Market gets off record level on 2nd day

Market gets off record level on 2nd day

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(G.N.S) Dt. 28
New Delhi
Flagship stock indices on Wednesday were short on luck as they fell off record highs after oil showed signs of heating up amid outflow of foreign capital. Crude oil surged to the highest level since mid-2015 after a pipeline blast in Libya restricted Opec (Organisation of the Petroleum Exporting Countries) output, reigniting worries on inflation and the spectre of fiscal slippage.
The BSE Sensex closed at 33,911.81, falling from an all- time intra-day high. It was down 98.80 points, or 0.29 per cent, from its previous close. The gauge had gained 254.33 points in the previous two sessions. The NSE Nifty slid 40.75 points, or 0.39 per cent, to 10,490.75 after scaling a fresh peak of 10,552.40.
“Domestic indices failed to sustain near all-time high as a depreciating rupee and surge in oil price influenced investors to book profit and pushed the market on to a negative note,” said Vinod Nair, Head of Research, Geojit Financial Services. Tensions on the Korean peninsula resurfaced, making investors nervous. Ahead of this year’s last expiry in derivative contracts today, the participants were seen liquidating their bets at a record level. The drop in GST collection in November only added to the nervousness. While foreign portfolio investors (FPIs) sold shares worth a net Rs 44.07 crore, domestic institutional investors (DIIs) purchased equities of Rs 544.50 crore on Tuesday, according to provisional data. Bharti Airtel hit the skids, losing the most by 1.62 per cent. ICICI Bank, L&T, SBI, Bajaj Auto and TCS slumped by up to 1.53 per cent. Loss for sectoral indices went up to 0.81 per cent.

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