Global concerns weigh on markets

Global concerns weigh on markets
Highlights

The stock market closed at its lowest closing levels in three weeks amid selling pressure after a weak China data and devaluation of yuan created ripples among global markets also weighed the geopolitical tensions in middle-east dampened investor sentiment.

Mumbai: The stock market closed at its lowest closing levels in three weeks amid selling pressure after a weak China data and devaluation of yuan created ripples among global markets also weighed the geopolitical tensions in middle-east dampened investor sentiment.

Experts feel that the weakness may continue for some more time, especially the earnings start in the next week may further impact the markets, hence a strong improvement in the market situation is not expected in near-term.

Sensex closed down 174 points at 25,406 and Nifty ended 44 points lower at 7,741. Meanwhile, the broader markets also ended lower with midcap and smallcap indices down 0.3 and 0.4 per cent, each. On sectoral front, energy and IT stocks reported positive, while other sectors including FMCG, metal, auto, infra, bank and pharma counters ended lower.

O&G sector was the top gainer with RIL gaining 2.7 per cent, while metal shares also witnessed profit taking after sharp gains with Tata Steel up 6.5 per cent, followed by Hindalco, Vedanta and Hindustan Zinc ended lower between 2.8 per cent and 4 per cent, each.

The gainers: Reliance (Rs 1,032.20) 2.69%; Cipla (Rs 652.10) 1.76%; TCS (Rs 2,381.60) 1.39%; BPCL (Rs 912.30) 1.07%; IndusInd Bank (Rs 943.95) 0.93%.

The losers: Torrent Power (Rs 223.25) 11.07%; HMT (Rs 55.70) 9.11%; Monsanto India (Rs 2,350) 5.73%; Novartis India (Rs 872.75) 5.53%; SRF (Rs 1,347) 5.25%.

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