Chennai, India (BBN) – The benchmark BSE Sensex was trading down by nearly 120 points as investors tightened their exposure due to weak macroeconomic data. Also, traders remained wary ahead of Fed policy outcome later today.
According to government data, factory output slowed to a three-month low of 2.2 per cent in October, with negligible growth in mining and subdued expansion in manufacturing and electricity, reports The Hindu Business Line.
Also, retail inflation breached the central bank’s limit and shot up to a 15-month high of 4.88 per cent in November, against 3.58 per cent a month earlier, led by rising food prices. Consumer food price index inflation jumped up to 4.42 per cent in November, against 1.9 per cent in October.
At 2.35 p.m., the 30-share BSE index Sensex was down 115.25 points or 0.35 per cent at 33,112.74, while the NSE index Nifty was down 32.9 points or 0.32 per cent at 10,207.25.
Among BSE sectoral indices, realty index fell the most by 2.3 per cent, followed by metal 1.45 per cent, capital goods 1.12 per cent and healthcare 0.87 per cent. Only oil & gas index was up 0.55 per cent.
Top five Sensex gainers were Kotak Bank (+1.19%), ONGC (+0.33%), TCS (+0.11%), NTPC (+0.11%) and Reliance (+0.05%), while the major losers were Cipla (-2.21%), Adani Ports (-2.12%), ICICI Bank (-2.00%), Tata Steel (-1.7%) and L&T (-1.38%).
Meanwhile, foreign portfolio investors net bought shares worth Rs. 843.20 crore yesterday, while domestic institutional investors (DIIs) sold equities to the tune of Rs. 853.67 crore.
US stock futures, Treasury yields and the dollar dipped on Wednesday as Democrat Doug Jones beat Republican Roy Moore in a bitter US Senate race in Alabama, while Asian shares gained as crude oil futures took back some lost ground.
European stock futures suggested a subdued opening for the region, FTSE futures nearly flat and CAC futures 0.1 per cent lower. Jones’ victory could mean trouble for President Donald Trump and his populist political base. It narrows the Republicans’ already slim majority in the US Senate, possibly making it harder for Trump to advance his policy agenda.
On Wall Street on Tuesday, the Dow Jones Industrial Average and the S&P 500 both notched record closing highs, though the Nasdaq Composite shed 0.19 per cent.