Profit booking, rupee plunge pull equity indices lower
Mumbai : Profit booking along with a slump in the rupee and weak global cues pulled the key Indian equity indices lower on Thursday.
Investors booked profits as the August series of futures and options contracts ended on Thursday, analysts said, adding that rise in global crude oil prices also eroded the investor sentiments.
Index-wise, the Nifty50 on the National Stock Exchange (NSE) closed at 11,676.80 points, lower 15.10 points or 0.13 per cent from its previous close of 11,691.90 points.
The barometer 30-scrip S&P BSE Sensex, which had opened at 38,796.98 points, closed at 38,690.10 points, lower 32.83 points or 0.08 per cent from the previous close of 38,722.93 points.
It touched an intra-day high of 38,819.06 points and low of 38,581.83 points.
However, in the broader markets, the S&P BSE Mid-cap gained by 0.43 per cent while the S&P BSE Small-cap ended 0.27 per cent higher than its previous close. The BSE market breadth was bullish with 1,459 advances and 1,256 declines.
"Stocks markets traded under pressure through the day, only to stage a smart recovery towards the end of the trading session and close near the flat line. Along with the US-Sino trade concerns, another bout of weakness in the Indian currency dampened investor sentiment," said Abhijeet Dey, Senior Fund Manager for Equities, BNP Paribas Mutual Fund.
Further, global markets traded lower and investors continued to monitor global trade talks which lent uncertainty to the immediate direction of the markets, he added.
On the currency front, the rupee settled at a record closing low of 70.74 per dollar, 15 paise weaker than its previous close of 70.59 per greenback.
Investment-wise, data from NSDL on Thursday showed that foreign portfolio investors (FPIs) sold scrip worth Rs 1,379.34 crore.
Sector-wise, the S&P BSE FMCG index rose 139.71 points, the healthcare index was up 132.15 points and the metal index rose by 108.21 points.
In contrast, the S&P BSE banking index index declined 122.88 points, the auto index fell by 82.77 points and consumer durables stocks ended 55.45 points lower than its previous close.
The top gainers at the Sensex were Sun Pharma, up 3.03 per cent at Rs 639.50; Tata Steel, up 2.40 per cent at Rs 608.30; ITC, up 2.08 per cent at Rs 319.20; Bharti Airtel, up 2.07 per cent at Rs 382.60; and NTPC, up 1.93 per cent at Rs 169.20 per share.
The majors losers were IndusInd Bank, down 1.62 per cent at Rs 1,876.20; Maruti Suzuki, down 1.62 per cent at Rs 9,212.40; Reliance Industries, down 1.57 per cent at Rs 1,274.10; Tata Motors (DVR), down 1.28 per cent at Rs 138.55 per share; and Asian Paints, down 1.15 per cent at Rs 1,375.95 per share.