Published: Tue, December 05, 2017
Sci-tech | By Carrie Guzman

Sensex, Nifty finish with losses; markets stay under pressure

Sensex, Nifty finish with losses; markets stay under pressure

Reversing a four-day losing streak, the Sensex ended higher by 37 points on value-buying by domestic investors in IT, TECk, healthcare and metal stocks.

BSE benchmark Sensex ended over 67 points down in volatile trade today as cautious investors trimmed their portfolios ahead of RBI's policy announcement amid subdued macro cues.

The RBI's two-day monetary policy review kicks off today and the decision is due tomorrow. A curious catalyst has surfaced in the electoral chemistry of Gujarat.

The broader NSE Nifty too slipped by 9.50 points, or 0.09 per cent, to end at 10,118.25, after moving between 10,069.10 and 10,147.95.

Sector-wise, the S&P BSE consumer durables index declined by 131 points, auto index by 130.49 points and metal index by 117.14 points.

Bank of America Corp (BAC) Holdings Lessened by Coatue Management LLC
The stock of Bank of America Corporation (NYSE:BAC) has "Buy" rating given on Friday, October 13 by RBC Capital Markets. Bank of America Corporation's institutional ownership is 70.3%, while its institutional transactions stand at 9.4%.

Shares of Infosys climbed as much as 4.7 per cent on hopes that the appointment of a new CEO would help the company move on from a feud between its board and founders that had pummelled shares. However, profit booking in banking and auto stocks capped gains. "It is expected central bank to keep interest rates on hold for a prolonged period starting with its policy meeting on concerns of rising inflation", Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

"We had a positive opening in line with Asian peers".

At 12.30 PM: Sensex was down by over 110 points or 0.34% to 32,759.48 while the wider Nifty was dpwn by over 31 points or 0.31% to 10,096.40. This has led to selling by investors, which added to the negative mood. Asian shares fell as technology shares mirrored a sell-off in United States tech companies.

The Dow Jones Industrial Average index fell 40.76 points or 0.17 per cent to 24,231, while the S&P500 lost 5.36 points or 0.20 per cent to 2,642.

Biggest gainers in the 30-share index were Infosys (2.80%), Hindustan Unilever (1.37%), Housing Development Finance Corporation (1.25%), Tata Motors (1.06%), Tata Steel (1.03%), and Bharti Airtel (0.94%).

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