Published: Sat, May 05, 2018
Research | By Derrick Holloway

Sensex snaps 4-day rising streak, slips 73 points

Sensex snaps 4-day rising streak, slips 73 points

Market observers opined that broadly negative global cues such as fears over the rise in geo-political tensions in the Middle East and future rate hike in the U.S. eroded investors risk taking appetite.

On Thursday, the Sensex ended at 35,103, down 73.28 points, while the broader Nifty50 closed at 10,679, down 38.40 points.

The Sensitive Index (Sensex) of the BSE, which had closed at 35,176.42 points on Wednesday, opened higher at 35,257.31 points.

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The Sensex touched a high of 35,206.55 points and a low of 34,847.61 points. The Bankex was down 0.13 per cent but the Finance Index was up 0.01 per cent.

"Markets corrected further on Friday as the Nifty ended in the red for the third consecutive day. The weakness seemed to have come on the back of negative global cues", Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.

The 30 share index started on a positive note but soon turned negative on profit-booking to quote 118.75 points (0.34 percent) lower at 34984.39. Japan's Nikkei stock index slid 0.16 per cent.

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Mumbai: Market benchmark Sensex broke its four-day winning streak to end over 73 points lower at 35,103.14 on Thursday as investors chose to trim their positions on weak global cues ahead of talks between China and the United States on their trade dispute.

The index had surged 675.15 points in the past four sessions, spurred by sustained buying by domestic institutional investors (DIIs) and encouraging quarterly earnings by some companies.

Among the sectoral indices on the BSE, Metal was down 3.4 per cent, followed by Basic Materials (-2.11 per cent), Realty (-1.75 per cent), Consumer Durables (-1.33), Utilities (-1.31), IT (-1.17), Auto (- 1.09) and Power (-1.09 per cent).

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