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Sensex, Nifty close lower for ninth straight session; IT stocks top losers

While the Sensex closed 145 points lower at 35,352, Nifty lost 36 points to 10,604. The indices, which traded higher for major part of the session, logged losses in the last 40 minutes after selling intensified on profit booking.

twitter-logo BusinessToday.In        Last Updated: February 19, 2019  | 16:49 IST
Sensex, Nifty close lower for ninth straight session; IT stocks top losers

The Sensex and Nifty closed lower for the ninth consecutive session dragged by losses in information technology stocks amid mixed global stocks as Chinese and US negotiators geared up for trade talks in Washington.While the Sensex closed 145 points lower at 35,352, Nifty lost 36 points to 10,604. The indices, which traded higher for major part of the session, logged losses in the last 40 minutes after selling intensified on profit booking. Top Sensex losers were TCS (3.39%), NTPC (2.34%), IndusInd  Bank (2.30%). Of 30 Sensex stocks, 17 closed in the red.

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Vedanta (3.38%), ICICI Bank (1.42%) and ONGC (1.39%) were the top Sensex gainers. BSE midcap and small cap indexes gained 71 points and 43.16 points, respectively.

Top sectoral losers were IT stock with the BSE IT index falling 317 points to 14,884. On the other hand, BSE metal index gained 143 points to close at 10,079 level.

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The Emami share price closed 14.80 % higher at 407 level after the Kolkata-based Emami Group's promoters sold 10 per cent stake in the flagship firm Emami Ltd for around Rs 1,600 crore to pare debt. Emami Ltd share opened 3.06% higher at 365.90 on the BSE.  Emami share price has lost 25.76% during the last one year and fallen 5.64% since the beginning of this year.

Also read: Emami share price rises up to 14.77% after promoters sell 10% stake to cut debt

On Monday, the 30-share BSE Sensex tumbled 310.51 points, or 0.87 per cent to finish at 35,498.44, while the broader NSE Nifty fell 83.45 points, or 0.78 per cent, to 10,640.95. FMCG, banking, IT, auto and pharma stocks bore the brunt of heavy selling.

Market breadth was positive with 1,363 stocks ending higher compared to 1186 falling on the BSE. On a net basis, foreign portfolio investors (FPIs) sold shares worth a net of Rs 1239 crore on Monday, and domestic institutional investors (DIIs) were net buyers to the tune of Rs 2336 crore, provisional data available with BSE showed.

Global markets

Shares were mixed in Europe on Tuesday following a choppy day in Asia as Chinese and U.S. negotiators geared up for trade talks in Washington.

Germany's DAX was flat at 0.1 percent to 11,300.61 while the CAC 40 in France slipped 0.3 percent to 5,152.88. Britain's FTSE 100 sank 0.5 percent to 7,186.17.

With U.S. markets preparing to reopen after the President's Day holiday, the future contract for the Dow Jones Industrial Average lost 0.2 percent to 25,838.00 and that for the S&P 500 also slipped 0.2 percent to 2,771.80.

The Shanghai Composite index edged 0.1 percent higher to 2,755.65, while Japan's Nikkei 225 edged 0.1 percent higher to 21,302.65. Australia's S&P ASX 200 climbed 0.3 percent to 6,106.90 and the Hang Seng in Hong Kong gave up 0.4 percent to 28,228.13. South Korea's Kospi lost 0.2 percent to 2,205.63. Shares were mostly higher in Southeast Asia.

Edited by Aseem Thapliyal

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