Sensex Ends 379 Points Lower; ONGC & GAIL Rally Over 7%

Indian share markets witnessed selling pressure today and fell on to bearish territory for the third straight session, as investors booked profits post steep gains over the past few weeks.

After opening on a flat note, benchmark indices slid in afternoon deals amid selling in automobile and private bank stocks.

At the closing bell, the BSE Sensex stood lower by 379 points. The NSE Nifty ended down by 90 points.

ONGC was among the top gainers today. Bajaj Finance, on the other hand, was among the top losers today.

SGX Nifty was trading at 15,117, down by 89 points, at the time of writing.

Both, the BSE Mid Cap index and the BSE Small Cap index ended higher by 0.7%.

Sectoral indices ended on a mixed note with stocks in the automobile sector and banking sector witnessing selling pressure.

Oil & gas stocks and power stocks, on the other hand, ended in the green.

Shares of oil & gas companies including natural gas producers and suppliers rallied today, a day after Prime Minister Narendra Modi said that the government is committed to bringing natural gas under the Goods and Services Tax (GST).

Shares of Gujarat State Petronet, Indraprastha Gas, GAIL (India), and ONGC advanced in the range of 6-10%.

Shares of Dixon Technologies and Adani Enterprises hit their respective 52-week highs today.

Asian stock markets ended mixed following overnight cues from US and European share markets.

Japan's Nikkei inched lower, reversing earlier gains, as investors turned cautious about the sustainability of a recent rally above the 30,000 level.

As of the most recent closing prices, the Nikkei ended down by 0.2% and the Hang Seng ended down by 1.6%. The Shanghai Composite ended up by 0.6%.

US stock futures are trading lower today. Nasdaq Futures are trading down by 65 points (down 0.5%), while Dow Futures are trading down by 35 points (down 0.1%).

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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