On the global front, Asian markets closed lower, led by the drop in Chinese stocks amid lingering trade worries. China’s Shanghai Composite was down 1.11 percent and Hong Kong’s Hang Seng shed 1.82 percent while Japan’s Nikkei lost 0.3 percent.
European stocks recovered from day’s low to trade flat at the time of writing this article.
Crude oil prices traded higher on a supply disruption in Canada, uncertainty over Libyan exports and declining US crude stocks, and after US officials said all countries should stop buying Iranian crude from November. Brent crude futures were at $76.72 a barrel, up 0.54 percent from the last close.
Market Closing: Benchmark indices ended sharply lower amid weak global cues, dragged by oil, banking & financials and infra stocks.
The 30-share BSE Sensex fell 272.93 points to 35,217.11 and the 50-share NSE Nifty declined 97.80 points to 10,671.40 while the Nifty Midcap index shed 277 points on weak market breadth.
About four shares declined for every share rising on the BSE.
Reliance Industries, ICICI Bank, HPCL, BPCL, IOC, Bajaj Finance, L&T ITC and Bajaj Finserv are top contributors to the Nifty’s loss.
HDFC Bank, Tech Mahindra and HCL Technologies outperformed.
Among others, Raymond, Arvind, Adani Enterprises, Reliance Communications, Reliance Power, IDBI Bank, CG Power, PFC, REC, Jet Airways, Jaiprakash Associates, NBCC, Manali Petrochemicals, KRBL, Syndicate Bank, Meghmani Organics, Delta Corp, Adani Power and Phillips Carbon Black declined up to 12 percent.
Mphasis, KPIT Tech, Cyient, Hexaware, Mindtree, Dabur, Godrej Consumer, Voltas and Havells gained up to 6 percent.
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