Mumbai Sep 6 (IANS) Negative global cues coupled with heavy selling pressure in index heavyweights like Sun Pharma and ITC and substantial outflow of foreign funds pulled key Indian equity indices -- the NSE Nifty50 and the BSE Sensex -- lower on Wednesday.
Sectorwise the S&P BSE healthcare FMCG and capital goods indices among others slipped into the negative zone.
The wider 51-scrip Nifty50 of the National Stock Exchange (NSE) fell by 36 points or 0.36 per cent to close at 9 916.20 points.
The 30-scrip Sensitive Index (Sensex) of the BSE which opened at 31 713.50 points closed at 31 661.97 points -- down 147.58 points or 0.46 per cent from its previous close at 31 809.55 points.
The BSE market breadth however was slightly bullish with 1 330 advances and 1 249 declines.
In contrast the broader market indices gained with the S&P BSE mid-cap index up 0.17 per cent and the small-cap index up 0.38 per cent.
"Markets corrected once again on Wednesday after the bounce back seen in the previous session (on Tuesday). Corrections in ITC and Sun Pharma weighed down the main indices " Deepak Jasani Head - Retail Research HDFC Securities told IANS.
"Weak global cues triggered by tensions between US and North Korea also played a part. Major Asian markets have ended on a negative note barring the Shanghai index. European indices like FTSE 100 DAX and CAC 40 traded lower " he added.
According to Dhruv Desai Director and Chief Operating Officer of Tradebulls the rupee hit a three-week low against the dollar as tensions over North Korea s latest nuclear test showed few signs of abating and continued to spook global investors.
During the day s trade the Indian rupee strengthened by three paise to 64.10 against the US dollar from its previous close at 64.13.
"North Korea s nuclear test on Sunday comes at a time when foreign investors were reducing their holdings in Indian shares having sold a net $2 billion in August and $248.70 million so far in September according to clearing and exchange data " Desai told IANS.
In investments provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrip worth Rs 1 353.02 crore while domestic institutional investors (DIIs) purchased stocks worth Rs 51.57 crore during the day.
"Reliance Industries (RIL) was up 1 per cent at Rs 1 650 extending its 6.6 per cent surge in past five trading sessions on BSE after the company fixed September 9 as the record date for 1:1 bonus issue. The stock will turn ex-bonus tomorrow on September 7 " he added.
Sector-wise the S&P BSE healthcare index declined by 180.64 points FMCG index by 108.99 points and capital goods index by 101.58 points.
On the other hand the S&P BSE metal index was up 91.76 points basic materials index by 17.62 points and finance index by 11.09 points.
Major Sensex gainers on Wednesday were: Kotak Bank up 0.93 per cent at Rs 996.20; Reliance Industries up 0.71 per cent at Rs 1 644.60; Coal India up 0.69 per cent at Rs 255.45; Maruti Suzuki up 0.45 per cent at Rs 7 851.15; and HDFC up 0.44 per cent at Rs 1 774.85.
Major Sensex losers were: Sun Pharma down 3.73 per cent at Rs 475; ITC down 2.43 per cent at Rs 275.55; Tata Motors (DVR) down 2.26 per cent at Rs 214.55; Lupin down 2.05 per cent at Rs 971.30; and Axis Bank down 1.79 per cent at Rs 493.50.
--IANS
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