Post Session-US election uncertainty pulls down Sensex

03/11/2016 16:21

Dalal Street remained in bear grip on Thursday as the Sensex tumbled by nearly 100 points with investors across the globe on tenterhooks amid uncertainty surrounding the US Presidential elections as latest polls show a tightening race for the White House.

The 30-share BSE SENSEX closed at 27,430.28, down by 96.94 points or by 0.35 per cent and the NSE Nifty ended at 8,484.95, down by 29.05 points or by 0.34 per cent. The BSE Sensex touched intraday high of 27,600.74 and intraday low of 27,399.26. The NSE Nifty touched intraday high of 8,537.65 and intraday low of 8,476.15.

Latest surveys show that the gap between Hillary Clinton and her Republican rival Donald trump has closed down considerably with the former’s odds of victory coming down significantly since last Friday before the FBI announced it was reopening an investigation into the former US Secretary of State’s use of unauthorized email server. Meanwhile, the prospects of higher US borrowing costs in December also added to the bearish market sentiment.

On the economic front, India’s services activity picked up as a services gauge climbed to 54.5 in October 2016 from 52 in September 2016.

The top losers of the BSE Sensex pack were Adani Ports & Special Economic Zone Ltd. (down 3.92 per cent), Oil And Natural Gas Corporation Ltd. (down 3.53 per cent), Tata Steel Ltd. (down 2.50 per cent), Asian Paints Ltd. (down 2.36 per cent) and State Bank of India (down 2.25 per cent), among others.

On the sectoral front, Oil & Gas and PSU fell 1.83 per cent and 1.75 per cent, respectively.

The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3233, shares advanced were 1257 while 1843 shares declined and 133 were unchanged.

Asian stocks ended mixed amid anxiety over US elections. Shanghai Composite climbed after a Chinese services gauge rose from 52 in September to 52.4 in October. Hang Seng fell and Japan’s Nikkei 225 was closed today.

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