Markets downslide continues, Sensex loses more than 200 points

Markets end lower as Karnataka gets a hung assembly

Index-wise, the S&P BSE Sensex, which had opened at 35,537.85 points, closed at 35,543.94 points, lower by 12.77 points or 0.04 per cent from the previous day's close at 35,556.71 points.

Yesterday, the rupee had gained 27 paise at 67.80 against the U.S. currency on suspected RBI intervention to stem further fall in the domestic currency.

The Nifty Midcap index outperformed frontliners, ending below the flatline but the market breadth remained in favour of declines.

The election results not only dampened the equity market sentiments but also dragged the Indian rupee down by 56 paise to close at its 15-month low of 68.08 against the USA dollar from its previous close at 67.52 per greenback.

On the other hand, the rupee closed at Rs. 67.87 against the U.S. dollar today.

"Even as political uncertainty continued to roil equity markets, rupee resisted weakness on the expectations of dollar selling by RBI, having tested 68".

Markets downslide continues, Sensex loses more than 200 points
Markets downslide continues, Sensex loses more than 200 points

Indian shares ended lower on Friday, as financial stocks fell with Punjab. The stock now has a 52-week low of 256.2 and high of 345.

Meanwhile, HUL, Lupin, ITC gained about two to three percent. The state-owned bank had reported standalone profit of Rs 261.90 crore in the fourth quarter of the preceding fiscal 2016-17.

Reliance Communications Ltd dropped to its lowest in six months after India's bankruptcy court allowed a insolvency plea filed by Sweden's Ericsson.

On the global front, the oil prices were off the 3-1/2-year highs on ample supplies despite ongoing output cuts by producer cartel OPEC and looming U.S. sanctions against major crude exporter Iran.

Asian markets fell in early trade on Wednesday after Pyongyang called off talks with Seoul, throwing a major US-North Korean summit into question, and a spike in the US 10-year Treasury yield to a seven-year high knocked sentiment on Wall Street.

Brent crude oil settled at $78.43 a barrel, up 20 cents, or 0.3 percent.


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