Stock markets close lower for 2nd day; Sensex down 239 pts as ITC tanks over 3 pc
Mumbai, May 28 (PTI): Stock markets declined for the second straight day on Wednesday with benchmark Sensex falling by 239 points dragged by losses in FMCG major ITC.
The 30-share BSE barometer declined 239.31 points or 0.29 per cent to settle at 81,312.32. During the day, it lost 307.61 points or 0.37 per cent to 81,244.02.
The 50-issue NSE Nifty dropped 73.75 points or 0.30 per cent to close at 24,752.45.
Analysts said the key indices remained largely range-bound ahead of the monthly expiry on Thursday and the release of GDP and industrial production data. FMCG, auto, and pharma shares declined while banking, mainly PSUs, media and energy shares advanced.
Among Sensex stocks, ITC fell over 3 per cent after British multinational BAT trimmed its ownership in the conglomerate by divesting a 2.5 per cent stake for Rs 12,927 crore (USD 1.51 billion) through a block deal.
IndusInd Bank, Nestle, UltraTech Cement, Mahindra & Mahindra, Power Grid, Asian Paints, Sun Pharma and Tech Mahindra were also among the laggards.
Bajaj Finance, Bharti Airtel, ICICI Bank, Adani Ports and HCL Tech were among the gainers.
"The domestic indices remained rangebound with a negative bias, primarily due to the lack of support from FIIs and prevailing premium valuations. A lingering concern over India-US trade relations following the end of the 90-day pause period continues to pose an external risk," Vinod Nair, Head of Research, Geojit Investments Limited, said.
The BSE smallcap gauge climbed 0.50 per cent while midcap index dipped 0.22 per cent.
Among sectoral indices, FMCG dropped the most by 1.33 per cent, followed by metal (0.69 per cent), auto (0.67 per cent), consumer durables (0.58 per cent), commodities (0.52 per cent) and consumer discretionary (0.51 per cent).
Financial Services, industrials, telecommunication, bankex, capital goods, services and teck were the gainers.
"Markets were extremely range-bound with a negative bias as weak European cues and domestic monthly F&O expiry on Thursday prompted investors to trim their holdings. The minutes of the US FOMC (Federal Open Market Committee) meeting held in early May will provide some hint to the markets on the direction of the interest rates going ahead," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
Ajit Mishra – SVP, Research, Religare Broking Ltd said that despite stable global cues and favourable domestic factors, the market is being weighed down by inconsistent FII inflows, which is reflected in the recent increase in volatility.
In Asian markets, South Korea's Kospi settled in the positive territory while Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng ended lower.
Markets in Europe were trading lower.
US markets ended sharply higher on Tuesday. Nasdaq Composite jumped 2.47 per cent, S&P 500 surged 2.05 per cent and Dow Jones Industrial Average climbed 1.78 per cent.
Foreign Institutional Investors (FIIs) bought equities worth Rs 348.45 crore on Tuesday, according to exchange data.
Global oil benchmark Brent crude climbed 0.69 per cent to USD 64.57 a barrel.
On Tuesday, the BSE Sensex dropped 624.82 points or 0.76 per cent to settle at 81,551.63. The Nifty declined 174.95 points or 0.70 per cent to 24,826.20.
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UP: Govt hospital staff booked for sexually assaulting woman in pretext of ultrasound test
Gorakhpur (PTI): A hospital employee was booked for allegedly sexually assaulting a woman in the pretext of an ultrasound test here in the district women's hospital, police said on Saturday.
According to the complaint, the woman, a resident of the Gulriha area, visited the district women's hospital on Thursday morning for an ultrasound test.
She was directed to a room, where Abhimanyu Gupta was conducting ultrasounds. When her turn came, the accused allegedly stared at her and told her to remove all her clothes, claiming it was necessary for the test and that a massage would also be required, she said.
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The woman alleged that once she complied, the accused began making obscene advances and tried to force himself on her. When she screamed, he allegedly gagged her, abused her and threatened to kill her before pushing her out of the room.
She said her complaints within the hospital went unheard, forcing her to approach the police.
Taking cognisance of the complaint, the hospital administration constituted a three-member inquiry committee, officials said.
Senior consultant (paediatrics) Dr Jay Kumar said, "The woman has levelled serious allegations against a staff member. Senior officials have been informed, and a departmental inquiry is underway. Strict action will be taken if the charges are proved."
Kotwali Station House Officer Chatrapal Singh said a case has been registered, and efforts are on to nab the accused.
