Karnataka’s political crisis, oil prices plunge equities

Mumbai, May 18 : The uncertain political environment in Karnataka along with high global crude oil prices pulled the key Indian equity indices deep in the red on Friday.

According to market observers, heavy selling pressure was witnessed in capital goods, auto and metal counters.

At 3.30 p.m., the wider Nifty50 of the National Stock Exchange (NSE) provisionally closed at 10,596.40 points, down 86.30 points or 0.81 per cent from the previous close of 10,682.70 points.

Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE ended in the red. It had opened at 35,143.59 points, closed at 34,848.30 points (3.30 p.m.) — down 300.82 points or 0.86 per cent — from its previous session’s close of 35,149.12 points.

In the intra-day trade, barometer S&P BSE Sensex touched a high of 35,163.11 and a low of 34,821.62 points. The BSE market breadth was bearish with 1,856 declines against 765 advances.

The major gainers on the BSE were Hindustan Unilever, Kotak Mahindra Bank, IndusInd Bank, ITC and Yes Bank, while Sun Pharma, Wipro, Tata Steel, Larsen and Toubro, Tata Motors and ICICI Bank were the major losers.

On the NSE, the top gainers were Bajaj Finance, Tech Mahindra and Bajaj Finserv. The major losers were Cipla, Wipro and Indiabulls Housing Finance.

/IANS

Related posts

Leave a Reply

*