Benchmark equity indices ended in red weighed by negative global sentiments.The BSE Sensex shed 151.48 points or 0.18 per cent to settle at 82,201.16, while the NSE Nifty50 dropped 53.60 points or 0.21 per cent to end at 25,145.10 on Thursday.
The day ended in favor of bears as many as 33 out of 50 constituent stocks of Nifty50 ended lower, dragged by Coca-Cola India, Britannia Industries, Cipla, Dr. Reddy’s Labs, and Reliance Industries with losses of up to 1.46 per cent. Meanwhile, Titan, LTIMindtree, Wipro, BPCL, and ITC led the gains of up to 3.11 per cent among the other constituent stocks on the index.
Similarly, on the BSE, 21 out of 30 listed stocks of Sensex ended in the red, dragged by Reliance Industries, Tata Motors, Nestle India, and Bharti Airtel, with a fall of up to 1.41 per cent. Meanwhile, Titan, Infosys, ITC, and HCL Tech were among the 9 stocks that ended with gains of up to 3.11 per cent.
Global Cues
Wall Street stock indexes had registered their biggest daily percentage drops since early August as investors took profits while weak US manufacturing data did little to boost risk appetites.
On Wednesday, the S&P 500 ended lower after spending the morning flitting between red and green as investors waited anxiously for more economic data. Thursday will bring a reading on the US services industry, along with jobless claims data.
Elsewhere, markets in the Asia-Pacific region mostly rebounded on Thursday from the sell-off on Wednesday, except for the markets in Japan.
The Nikkei 225 and Topix fell 0.92 per cent and 0.49 per cent, respectively, on open, shortly after the release of Japan’s July wage data that showed average monthly cash earnings in the country rising 3.6 per cent year-on-year, a softer rise compared to the 4.5 per cent climb seen in June.
Real wages climbed 0.4 per cent year-on-year, the second straight month of growth after the 1.1 per cent rise in June. A strong pay report would give the Bank of Japan more room for a rate hike, which could put pressure on equities.
Other economic data coming from the region include trade data from Australia and retail sales numbers from Singapore.
Then Friday’s hotly anticipated August report for nonfarm payrolls is expected to provide the clearest clues as to the health of the US economy and whether the Federal Reserve will cut interest rates this month by a quarter or a half of a percentage point.
Also on Wednesday, Atlanta Federal Reserve President Raphael Bostic said the U S central bank must not keep interest rates too high much longer or it risks harming employment too much.
On Wall Street, the Dow Jones Industrial Average rose 38.04 points, or 0.09 per cent, to 40,974.97, the S&P 500 lost 8.86 points, or 0.16 per cent, to 5,520.07 and the Nasdaq Composite lost 52.00 points, or 0.30 per cent, to 17,084.30.
MSCI’s gauge of stocks across the globe fell 4.40 points, or 0.54 per cent, to 815.07. Earlier Europe’s STOXX 600 index fell had closed down 0.97 per cent.
In Treasuries, the yield on benchmark US 10-year notes fell 8.9 basis points to 3.755 per cent, from 3.844 per cent late on Tuesday while the 2-year note yield, which typically moves in step with interest rate expectations, fell 12.8 basis points to 3.76 per cent.
Crude oil prices fell on pessimism about demand in the coming months as crude producers offered mixed signals about supply increases.
US crude settled down 1.6 per cent at $69.20 a barrel while Brent ended 1.4 per cent lower at $72.70 per barrel.
