Sensex ends weak, US Fed rate call eyed

PTI Feeds
Sensex ends weak, US Fed rate call eyed

Mumbai, May 3 (PTI) Benchmark Sensex ended marginally

lower at 29,895 in range-bound trade today as investors kept

their powder dry ahead of US Fed’s rate decision.

Healthcare and oil & gas counters witnessed downward

pressure, while buying in realty and IT stocks propped up the

market.

The 30-share index resumed higher at 29,984.95 and

quickly reclaimed the 30,000-mark to hit a high of

30,020.59. However, it retreated to 29,846.57 on profit-

booking, before ending at 29,894.80, showing a loss of 26.38

points or 0.09 per cent.

The gauge had inched up by 2.78 points in yesterday’s

trade.

The broader NSE Nifty too dipped by 1.85 points or 0.02

per cent to 9,311.95 after moving between 9,346.30 and

9,298.40.

Markets are on a consolidation mode, with participants

awaiting US Federal Reserve’s rate announcement, brokers said.

“Despite better than expected quarterly results, the

market is consolidating as investors are awaiting Fed’s policy

outcome later today,” said Vinod Nair, Head of Research,

Geojit Financial Services.

Domestic funds net bought shares worth Rs 541.39 crore,

while foreign funds net sold stocks worth Rs 611.82 crore

yesterday, as per provisional figures issued by stock

exchanges.

Globally, markets in Japan and Hong Kong remained shut

for a public holiday.

In Europe, London’s FTSE slipped 0.20 per cent,

Frankfurt’s DAX 30 eased 0.15 per cent and Paris CAC 40 dipped

0.30 per cent.

Back home, 17 scrips in the 30-share Sensex pack ended

lower, while the remaining 13 closed with gains.

Major losers were Lupin (3.09 per cent), HDFC (1.37 per

cent), ICICI Bank (1.16 per cent), Tata Motors (1.11 per cent)

and Tata Steel (1.03 per cent).

However, Power Grid rose 2.31 per cent, TCS 1.98 per

cent, Infosys 1.59 per cent, Coal India 1.49 per cent and HUL

0.71 per cent.

Among the S&P BSE sectoral indices, healthcare fell 0.98

per cent and oil & gas 0.67 per cent, while realty rose 1.54

per cent, IT 1.40 per cent and teck 0.94 per cent.

The market breadth remained negative as 1,485 stocks

closed in red, while 1,360 finished higher and 171 ruled

steady.

The total turnover on BSE amounted to Rs 4,235.86 crore,

higher than Rs 4,062.51 crore registered yesterday.

This is published unedited from the PTI feed.