Sensex Ends 156 Points Lower; Capital Goods & Metal Stocks Witness Selling

Indian share markets witnessed selling pressure throughout the day and recovered during closing hours to end the day marginally lower. Barring IT sector and healthcare sector, all sectoral indices ended in red with stocks in the capital goods sector, power sector and metal sector witnessing maximum selling pressure.

At the closing bell, the BSE Sensex stood lower by 156 points (down 0.4%) and the NSE Nifty closed down by 57 points (down 0.5%). The BSE Mid Cap index ended the day down by 0.5% while the BSE Small Cap index ended the day down by 0.4%.

Asian stock markets finished on a negative note. As of the most recent closing prices, the Hang Seng was down by 1.4% and the Shanghai Composite was down by 0.7%. The Nikkei 225 was up 1%.

The rupee was trading at 70.77 against the US$.

The rupee fell sharply amid weak domestic equities and broad strengthening of the American currency.

The rupee has come under pressure as global oil prices have gained nearly 20% since hitting an 18-month low in late December.

In the news from the engineering sector, BHEL share price was in focus today as the state-owned power equipment maker has won an order worth Rs 5.7 billion from Singareni Collieries Company for setting up solar photovoltaic (SPV) power plants in Telangana.

Bharat Heavy Electricals Ltd (BHEL) said the order valued at Rs 5.7 billion is the largest SPV power plant order won by BHEL till date.

BHEL share price ended the day down by 1.2%.

Moving on to the news from the airline's space, Jet Airways share price witnessed buying interest today on reports that the company is close to finalizing a resolution plan.

Shares of the company rallied around 18% on back of the above news. Reportedly, promoter Naresh Goyal is likely to step down from the board giving up majority control and his stake in the airline may be down to 20-25% with voting rights capped at 10% after the restructuring.

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Disclosure: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. ...

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