Share Market Update: Sensex, Nifty extend losses to 8th day; Metal, IT stocks slump over 1%

After opening on a positive note this morning, domestic benchmark indices BSE Sensex and Nifty slipped to red on Friday recording a fall for an eighth straight day.

By : ABP News Bureau | Updated at : 10 May 2019 04:38 PM (IST)

Share Market Update- Sensex, Nifty extend losses to 8th day, Metal, IT stocks slump over 1 pc Share Market Update: Sensex, Nifty extend losses to 8th day; Metal, IT stocks slump over 1%

Twenty-one of the 30 constituents of BSE ended the session with losses. (Image: Getty)

BSE Sensex and NSE Nifty slipped to red on Friday

Sensex ended the day 96 points, or 0.26 per cent, lower at 37,463

Nifty gave up the crucial 11,300 mark and tanked 23 points or 0.20 per cent,

Share Market Update: After opening on a positive note this morning, domestic benchmark indices BSE Sensex and NSE Nifty slipped to red on Friday recording a fall for eighth straight day and third consecutive week. Both the key indices recorded downfall as the investors remained cautious ahead of the US-China trade negotiations outcome. As per reports, benchmark S&P BSE Sensex ended the day 96 points, or 0.26 per cent, lower at 37,463, with Tata Consultancy Services (TCS), HCL Tech, Tata Steel, IndusInd Bank and Infosys contributing the most to the indices' fall. Twenty-one of the 30 constituents of BSE ended the session with losses. Even the broader index Nifty50 gave up the crucial 11,300 mark and tanked 23 points, or 0.20 per cent, at 11,279. About 1,187 shares advanced, 1,270 shares declined, and 162 shares were unchanged. On the sectoral front, Realty Index remained unchanged, while Metal and IT felt over 1 per cent each followed by Pharma, FMCG and Auto sectors. However, Nifty PSU Bank gained 2.5 per cent, the highest among the gainers. The broader indices performed better than their benchmark peers with the S&P BSE MidCap index ending 34 points, or 0.24 per cent, higher at 14,390, while the S&P BSE SmallCap index was ruling at 14,106, up 29 points or 0.21 per cent. According to traders, investors were cautious ahead of the outcome of the 11th round of talks aimed at ending the trade war between the world's two largest economies. US President Donald Trump on Thursday accused China of trying to renegotiate a trade deal that has been negotiated after months of efforts and asserted he will not let that happen. Meanwhile, the Trump Administration on Friday imposed increased tariffs on import of Chinese products over USD 200 billion worth from 10 per cent to 25 per cent. Sustained foreign fund outflow too weighed on investor sentiment here, traders said. Foreign institutional investors (FIIs) sold equity worth Rs 655.36 crore on Thursday, while domestic institutional investors (DIIs) purchased shares to the tune of Rs 677.91 crore, provisional data available with stock exchanges showed. On the currency front, the rupee depreciated 7 paise to 70.01 against the US dollar. Brent crude futures, the global oil benchmark, were trading 0.33 per cent lower at USD 70.62 per barrel.