Markets continue to trade in red on global sell-off

02/11/2016 13:41

Tracking a rout in the global peers on mounting fears ahead of next week’s US Presidential elections, Indian equity benchmarks saw across-the-board selling led by oil & gas, realty, auto and banking sector stocks during the afternoon session on Wednesday.

At 1:04 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 27,593.37, down by 283.24 points or 1.02 per cent while the NSE Nifty was at 8,535.95, down by 90.3 points or 1.05 per cent.

The domestic market sentiment hit in-line with global markets on mounting anxiety after a new opinion poll showed that Donald Trump slightly ahead of market favourite Hillary Clinton.

Besides, investors remained cautious ahead of US Fed meeting decision on rate hike timing due today, too dampened sentiment at D-Street.

Major show spoilers were Oil And Natural Gas Corporation Ltd. (Rs. 278.70,-3.63%), Tata Motors Ltd. (Rs. 517.20,-2.59%), State Bank of India (Rs. 251.85,-2.53%), Sun Pharmaceutical Industries Ltd. (Rs. 718.75,-2.06%), GAIL (India) Ltd. (Rs. 423.70,-2.01%), among others.

The top gainers of the BSE Sensex pack were Mahindra & Mahindra Ltd. (Rs. 1368.00,+3.44%), Hindustan Unilever Ltd. (Rs. 843.55,+0.99%), NTPC Ltd. (Rs. 156.30,+0.87%), among others.

The market breadth, indicating the overall strength of the market, was weak. On BSE, out of the total 2,912 shares traded, 831 advanced while 1978 shares declined and 103 remained unchanged.

On the global front, Asian markets were red as anxiety heightened ahead of the US Presidential elections on November 8, 2016.

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