Sensex Falls Nearly 200 Points As PSU Banks, Metals Decline; Nifty Below 10,150: 10 Things To Know

Top laggards on the NSE Nifty included Hindalco Industries, Vedanta, HPCL and Tata Steel, trading between 1.6 per cent and 1.9 per cent lower.

Market | | Updated: March 28, 2018 10:18 IST
Sensex Falls Nearly 200 Points As PSU Banks, Metals Decline; Nifty Below 10,150: 10 Things To Know

43 stocks on the 50-scrip NSE Nifty were trading in the negative zone

The BSE Sensex started Wednesday's session on a negative note, falling as much as 197 points in early morning deals amid weakness in other Asian markets. Declines were led by metal and PSU banking stocks, down around 1.3 per cent. Investors were cutting bets on the last trading session of March derivatives and the end of financial year 2017-18, brokers said.The National Stock Exchange (NSE) benchmark index Nifty fell 69 points to touch 10,184 on the downside. Top laggards on the NSE Nifty included Hindalco Industries, Vedanta, HPCL and Tata Steel. Equities in the other Asian markets pulled back. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.4 per cent, with tech-heavy Korean shares falling 1.0 per cent. Japan's Nikkei fell 2.1 per cent.
Here are five things to know about Wednesday's trading session:
  1. At 9:21 am, 43 stocks on the 50-scrip NSE Nifty were trading in the negative zone.
  2. Among state-run banks, IDBI Bank declined 2.9 per cent, Andhra Bank and Canara Bank 1.5 per cent each, while PNB declined 1.4 per cent and SBI 1.3 per cent.
  3. Private sector peers ICICI Bank and Yes Bank were trading around 1 per cent lower each.
  4. Metal stocks declined, with the Nifty Metal - an NSE sub-index comprising metal stocks - down around 1.5 per cent. Tata Steel, JSPL, Hindalco Industries and SAIL were trading with losses between 1.5 per cent and 2.5 per cent.
  5. The government is due to release fiscal deficit data for the period of April-February later on Wednesday.
  6. Foreign portfolio investors (FPIs) bought shares worth a net of Rs 1,063.12 crore, while domestic institutional investors (DIIs) made purchases to the tune of Rs 2,172.91 crore yesterday, provisional data showed.
  7. Overnight on Wall Street, the S&P 500 lost 1.73 per cent and the Nasdaq Composite dropped 2.93 per cent, making their fourth decline in five sessions.
  8. Wall Street was knocked hard on concerns about tighter regulations on the tech industry, denting a brief global equities recovery driven by hopes of easing fears of a trade war between China and the US.
  9. Wednesday marks the last trading session of financial year 2017-18. 
  10. The Indian equity markets will remain closed on Thursday and Friday on account of Mahavir Jayanti and Good Friday, respectively.
(With agency inputs)