Sensex ends 44 points lower; Nifty settles at 10226-level

  • Sensex ends 44 points lower; Nifty settles at 10226-level

Sensex ends 44 points lower; Nifty settles at 10226-level

The PSU banking stocks were under pressure with Nifty PSU Bank index falling 1.5 per cent.

The 30-share Sensex stayed in the positive zone throughout the session on unabated buying by domestic institutional as well as retail investors and hit a high of 33,439.97. It finally settled at 33,351.57, showing a robust gain of 318.48 points, or 0.96 per cent. Yesterday, the markets had snapped a six-day losing streak with the BSE index closing with a jump of more than 300 points, the biggest single-day gain since February 23. At 9.16 a.m., the wider Nifty50 Of the National Stock Exchange (NSE) rose by 30.30 points or 0.30 per cent to trade at 10,272.95 points.

The Nifty 50 index rose 88.45 points, or 0.87 per cent to end at 10,242.65, before moving in a range of 10,270.35 and 10,146.40.

On BSE Sensex, PNB once again tops the volume charts with a TTQ of 1,912,312 and total number of trades standing at 5,852 followed by Ashok Leyland, Vedanta and SBI. "Mid & Small-cap continued to underperform, as investors are still waiting for further ease in violation".

Mumbai: Equities ended the day with modest losses as early gains were erased by a bout of fag-end selling, led by metal stocks which came under heavy selling pressure after the U.S. imposed tariffs on some steel and aluminium imports, fanning fears of a global trade tussle. This is the 16th straight session of fall for the stock.

"We feel it's just a technical bounce and sustainability at higher level seems hard".

Overseas, Asian stocks closed higher on developments related to planned metals tariffs.

The spectre of a global trade war has had markets on edge this week, as Trump's threats of steel and aluminum tariffs were met with talk of retaliation in China and Europe.

Rising protectionism was a risk cited overnight by European Central Bank President Mario Draghi following the central bank's latest policy meeting.