Markets

Sensex Ends Five-Day Losing Streak, Nifty Settles Above 10100

Sensex Ends Five-Day Losing Streak, Nifty Settles Above 10100

The index had lost 741.94 points in the previous four sessions. Metal, media, IT and auto stocks were early losers today.

The Benchmark BSE Sensex opened 112 points lower and continued to dip on Tuesday.

For the third straight week stocks ended in the red with the flagship Sensex recording a weekly fall of 131.14 points, or 0.39 per cent, and the NSE Nifty losing 31.70 points, or 0.30 per cent.

US stocks joined a broad decline in global equity markets on Monday as traders turned cautious ahead of the Federal Reserve's policy meeting this week and amid continuing concerns about the threat of a global trade war.

Global cues too were weak as investors moved cautiously before the US Federal Reserve meeting, that is likely to raise US interest rates.

No. 16 UMBC stuns No. 1 Virginia in NCAA upset
But UMBC came out firing to start the second half, building a 16-point lead and they never looked back. Instead, an under-seeded Michigan State team took down the Cavaliers in the Sweet 16 in New York City.

The pan-European Stoxx Europe 600 index advanced 0.2 percent. Other gainers were Sun Pharma, Dr Reddy's, Adani Ports, HDFC Ltd, L&T, Tata Motors, Bajaj Auto, Asian Paints, SBI, Power Grid, HUL, Axis Bank, Maruti Suzuki and Hero MotoCorp, rising up to 2.20%.

Meanwhile, on a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 292.23 crore, while domestic institutional investors (DIIs) sold equities to the tune of Rs 191.52 crore yesterday, provisional data showed.

Bulls remained confused as the potential global trade-war vented-out by Trump administration slowly but steadily came into intentness. In the broader market, the BSE mid-cap index fell by 1.07 per cent while the small-cap index shed 1 per cent. The Nifty IT, a sub-index of IT stocks, settled 1.5 per cent higher.

Globally, there was a mixed trend in Asia coupled with a higher opening in European markets as participants braced for new Federal Reserve chairman Powell's first policy meeting.

Shanghai dropped 0.3 percent, Singapore gave up 0.2 percent and Seoul retreated 0.4 percent, with Wellington, Manila, Taipei and Jakarta all sharply down.