Sensex slips 108 pts ahead of RBI meet, on Asian cues

Tomas Mccoy
December 8, 2017

The benchmark BSE Sensex jumped 352.03 points or 1.08 percent to finish at 32,949.21 while the broader Nifty index ended at 10,166.70, up 122.60 points or 1.22 percent from its previous close.

Weak Asian cues as technology stocks tracked a sell-off in their U.S. counterparts that saw the Nasdaq tumbling over 1 per cent overnight, weighed on the sentiments, brokers said.

Gas stocks ended higher.

The Sensex of the BSE after opening at 32,798.50 points touched a high of 32,804.75 and a low of 32,702.37 points. Participants sensed value-buying opportunities after equities' recent lacklustre run, making stock valuations attractive, brokers said.

The domestic unit opened lower at 64.44 per dollar against Tuesday's closing level of 64.38 per dollar at the interbank forex market. Benchmark Bank Nifty was also up by 205 points with both PSU and private banks contributing well. Crude prices in the worldwide markets slipped almost 3 per cent on Wednesday, its biggest daily decline in more than two months, after a sharp rise in United States inventories of refined fuel suggested demand may be weakening.


Market breadth was positive with 1,614 advances against 542 declines.

Major losers were Tata Steel 1.70 per cent, SBI 1.21 per cent, Bajaj Auto 0.94 per cent, ITC 0.83 per cent and HDFC 0.70 per cent.

Major Asian indices closed higher.

However, Sun Pharma, Wipro, Cipla, TCS and Coal India finished with losses.

Shanghai Composite Index too fell 0.61 per cent in early trade today.

Other reports by Ligue1talk

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