Mumbai, Nov 9 (UNI) The BSE Sensex reversed the gains and shed on
Friday by 79.13 points to close negative at 35,158.55 on mild sell-
off in IT, Metal and Technology counters amid weaker cues from
global peers.
The Nifty of National Stock Exchange (NSE) too eased by 13.20 points
to 10,585.20.
The Sensex, which had risen by 245.77 points to 35,237.68 in a
special trading session marking the start of the Hindu new year
Samvat 2075 on Diwali day on Wednesday, opened positive led by
buying in index pivotals, but edged lower in early trade tracking
negative Asian stocks.
Stocks cut losses in morning trade. Indices extended intraday
recovery, with the Sensex and the Nifty regaining the positive zone
in mid-morning trade.
Key indices hovered in a small range near the flat line in early
afternoon trade, alternately swinging between positive and negative
zone. Indices reversed the gaining trend and were trading with
modest losses in afternoon trade. Then, they remained in negative
zone throughout the rest of the session before closing in red in
late trade.
The Sensex registered day's high and low at 35,287.29 and 35,011.23
points, respectively.
The Nifty registered day's high and low at 10,619.55 and 10.544.85
points, respectively.
The broader markets closed firm, as the BSE Mid-Cap index and Small-
Cap rose 0.66 per cent and 0.58 pc, respectively. Both these indices
outperformed the Sensex.
The market breadth was positive on BSE, as 1,337 shares gained
versus 1,200 fell and 142 were unchanged.
Overseas, European shares declined in tandem with the retreat of
Asian markets and the Wall Street after the Federal Reserve noted a
dip in US business investment and suggested a rate hike was on track
in December.
Lingering worries over US-China trade relations also dented the
market sentiment.
Asian stocks pulled back from a one-month high on Friday as the
Federal Reserve looked set to deliver another interest rate hike
next month, paring gains made earlier this week after US mid-term
elections triggered a global equities rally.
Spreadbetters expected European stocks to follow Asia's lead and
open lower, with Britain's FTSE losing 0.45 per cent, Germany's DAX
slipping 0.3 per cent and France's CAC dipping 0.15 per cent.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.3
per cent and was headed for a loss of more than 1 per cent for the
week. On Thursday, the index hit its highest level since October 8.
Hong Kong's Hang Seng lost 2.4 per cent and the Shanghai Composite
Index fell 1.2 per cent. Australian stocks slipped 0.1 per cent,
South Korea's KOSPI edged down 0.05 per cent and Japan's Nikkei shed
1.05 per cent.
US stocks closed mostly lower on Thursday, as the Federal Reserve
kept interest rates unchanged in a unanimous decision and signaled
that it would continue to tighten monetary policy at a gradual pace.
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