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MARKET WRAP: Indices end flat ahead of May F&O expiry; Nifty holds 10,600

SI Reporter/New Delhi 30 May 18 | 03:30 PM

Benchmark indices ended flat on Wednesday tracking broader Asia as investors trimmed exposure to riskier assets amid a political crisis in Italy, ahead of F&O expiry for the month of May.

The S&P BSE Sensex ended at 34,906, down 43 points while the broader Nifty50 index settled at 10,614, down 19 points.

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Indian oil refiners and retailers also took a hit after Indian Oil Corp Ltd (IOC) slashed pump prices for petrol and diesel, according to reports. State-run IOC, Bharat Petroleum Corp and Hindustan Petroleum Corp control most of the retail fuel market in India.

Meanwhile, Fortis Healthcare rose as much as 4.8% during the day after it launched a new round of bidding for itself on Tuesday. The cash-strapped hospital operator’s board is also scheduled to meet to approve quarterly results on Wednesday.

GLOBAL MARKETS

Asian stocks extended a global sell-off as fears of repeat elections in the euro zone’s third-largest economy saw the euro hitting a 10-month low, sending investors rushing to safe-haven assets such as U.S. Treasuries.

MSCI’s broadest index of Asia-Pacific shares outside Japan tumbled 1.4 percent.

CRUDE OIL

Oil struggled under pressure from expectations that Saudi Arabia and Russia would pump more oil to counter potential supply shortfalls from Venezuela and Iran, even as US output has surged in recent years.

US crude futures retreated 0.2% to $66.58 per barrel, extending losses into a sixth consecutive sessions.

(with Reuters inputs)

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Sensex

Company Price Gain (%)
Sun Pharma.Inds.601.656.91
Yes Bank381.752.87
ICICI Bank332.302.17
Axis Bank618.302.15
Reliance Inds.1,210.952.00

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