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Nifty hits one-week low, ends below 10,400 on spurt in oil prices

NSE benchmark Nifty shed 102 points on Tuesday to end at a one-week low of 10,350 on widespread profit booking amid fears of rising inflation due to a spurt in oil prices.

Reported by: PTI, Mumbai [ Published on: November 07, 2017 19:38 IST ]
Nifty hits one-week low, ends below 10,400 on spurt in oil
Nifty hits one-week low, ends below 10,400 on spurt in oil prices

NSE benchmark Nifty shed 102 points on Tuesday to end at a one-week low of 10,350 on widespread profit booking amid fears of rising inflation due to a spurt in oil prices. 

Globally, European shares were mixed as investors monitored a fresh batch of corporate earnings. Asian shares ended higher after Wall Street rose even as the turmoil in Saudi Arabia sent crude prices to two-year highs. 

The NSE Nifty opened higher at 10,477.15 and moved in a range of 10,485.75 and 10,340.80 before ending at 10,350.15, down 101.65 points, or 0.97 per cent, from its last close. It saw an intra-day movement of about 144.95 points.

Broader markets fell as well, with Nifty Midcap and Smallcap indices declining 1.16 per cent and 1.73 per cent, respectively. 

Sector-wise, Pharma fell 4.29 per cent, PSU Bank 3.92 per cent, Realty 2.25 per cent, Energy 1.95 per cent, Infra 1.76 per cent, Metal 1.68 per cent, Auto 1.15 per cent, Finance Service 1.06 per cent, Bank 1.06 per cent, Media 0.94 per cent, Private Bank 0.68 per cent and FMCG 0.24 percent. 

IT rose by 2.22 per cent. 

Major index gainers were HCL Tech, HPCL, Infosys, Tech Mahindra, TCS, Zee, Bharti InfraTel and Wipro. 

Losers included Lupin, Cipla, SBI, Bharti Airtel, UPL, Yes Bank, Reliance, ONGC and IOC. 

The market breadth, indicating the overall health of the market, was in favour of losers. On the NSE, 452 stocks advanced, 1,288 declined and 61 remained unchanged.

Total securities that hit their price bands were 162. Turnover in the cash segment rose to Rs 40,573.39 crore from Rs 35,436.46 crore on Monday. 

A total of 19,452.20 lakh shares changed hands in 13,398,618 trades. The market capitalisation of listed firms on NSE stood at Rs 1,42,58,596.90 crore.

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