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MARKET WRAP: Sensex slips 79 pts, Nifty ends at 10,585; IT stocks weigh

SI Reporter/New Delhi 09 Nov 18 | 08:00 AM

A share broker monitors market fluctuation

The benchmark indices ended slightly lower on Friday led by a fall in information technology (IT) and metal stocks.

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The S&P BSE Sensex ended at 35,159, down 79 points, while the broader Nifty50 index settled at 10,585, down 13 points.

Among the sectoral indices, the Nifty IT index fell 0.8 per cent weighed by Infosys and Tata Consultancy Services (TCS). The Nifty Metal index slipped 0.9 per cent due to a decline in NMDC. On the other hand, the Nifty Pharma index settled 1.4 per cent higher led by a rise in Sun Pharma.

In stock-specific action, Bharti Airtel fell 2.9 per cent to Rs 297 on the BSE after Moody's Investors Service placed it's rating on review for downgrade, following low levels of profitability and expectation of weak cash flow. The stock had fallen as much as 5.21 per cent to Rs 290 on the BSE in intra-day trade.

The rupee traded on a firm note during the day, rising to 72.58 per dollar, up from its previous close of 73 against the greenback.

Global Markets

Asian stocks pulled back from a one-month high on Friday as the Federal Reserve looked set to deliver another interest rate hike next month, paring gains made earlier this week after US midterm elections triggered a global equities rally.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.3 per cent and was headed for a loss of more than 1 per cent for the week. On Thursday, the index hit its highest level since Oct. 8. Hong Kong’s Hang Seng lost 2.4 per cent and the Shanghai Composite Index fell 1.2 per cent. South Korea’s KOSPI edged down 0.05 per cent and Japan’s Nikkei shed 1.05 per cent.

(with Reuters input)

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Company Price Gain (%)
Larsen & Toubro1,529.150.80
Sun Pharma.Inds.392.350.58
Power Grid Corpn194.600.44


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