Closing Bell: Sensex sheds 156 pts amid political uncertainty in Karnataka


Closing Bell: Sensex sheds 156 pts amid political uncertainty in Karnataka

Mumbai: The BSE Sensex logged a fall of 156 points to end at 35,387.88 on Wednesday amid uncertainty over government formation in Karnataka and no let-up in selling by foreign investors. National Stock Exchange (NSE) benchmark index Nifty fell 60 points to settle at 10,741. It closed at 35,556.71 points - up 20.92 points or 0.06 per cent - from its previous day's close. NIIT Technologies Limited now has a total float of 61.31 million shares and on average sees 2.06M shares exchange hands each day.

In other Asian markets, Hong Kong's Hang Seng was down by 0.49 percent while Japan's Nikkei shed 0.38 percent.

Global markets were stumped after N Korea canceled high-level talks with Seoul and threatened to call off the much-awaited summit with the United States if it was pushed into unilaterally giving up its nuclear arsenal.

India also announced its trade deficit data on Tuesday, which slightly widened to $13.72 billion in April from $13.25 billion a year ago.

On the sectoral front, PSU bank fell by 2.37 per cent, realty 2 per cent, auto 0.77 per cent, media 0.74 per cent, pharma 0.72 per cent, energy 0.33 per cent, FMCG 0.30 per cent, infra 0.29 per cent.

The US market ended 0.78 percent lower in yesterday' s trade.

ICICI Bank (down 2.42%), Hero MotoCorp (down 2.35%), Adani Ports and Special Economic Zone (down 1.65%), State Bank of India (down 1.29%) and ONGC (down 0.98%), were the major Sensex losers. Bank Nifty was trading 352 points lower at 26,123 level. The market capitalisation of listed firms on the NSE stood at Rs 1,47,45,721.30 crore. It operates through four divisions: Retail, CPG, and Manufacturing; Banking, Financial Services, and Insurance; Technology, Media, and Services; and Travel and Hospitality. In a statement, the company said, "RCom and two of its subsidiaries - Reliance Telecom and Reliance Infratel - await detailed order from NCLT, allowing the Ericsson application for admitting the companies to debt resolution under the IBC".

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 United States dollar from its previous close at 67.52 per greenback.

Sensex, the benchmark index of Bombay Stock Exchange, fell by over 245 points in early morning today as uncertainty grows over the government formation in Karnataka.