Sensex Ends 68 Points Lower; Consumer Durable And Power Stocks Witness Selling

Share markets in India continued to trade in the red during closing hours on escalating Indo-Pak tensions and ended their trading session marginally lower. Sectoral indices ended on a mixed note with stocks in the consumer durable sector and power sector witnessing most of the selling pressure.

At the closing bell, the BSE Sensex stood lower by 68 points (down 0.2%) and the NSE Nifty closed down by 29 points (down 0.3%). The BSE Mid Cap index ended the day up 0.4%, while the BSE Small Cap index ended the day up 0.2%.

The rupee was trading at 71.25 against the US$.

Asian stock markets finished on a mixed note. As of the most recent closing prices, the Hang Seng was down by 0.1% and the Shanghai Composite was up by 0.4%. The Nikkei 225 was up 0.5%.

From the commodity space, crude oil was witnessing buying interest today. Gains were seen after a report stated declining crude inventories in the country.

Gains also came as producer club the Organization of the Petroleum Exporting Countries (OPEC) seemed to stick to its supply cuts despite the pressure from US President Donald Trump.

Note that yesterday Donald Trump had called on the Organization of the Petroleum Exporting Countries (OPEC) to ease its efforts to boost the markets with supply cuts.

Max India share price was also in focus today as the after the company sold its entire 51% stake in Max Bupa Health Insurance Co Ltd (Max Bupa) to private equity firm True North Fund VI LLP for over Rs 5.1 billion.

Max India said the deal has been at a consideration of Rs 5.1 billion, which the company will receive at the time of completion of the proposed transaction.

From the banking space, Allahabad Bank share priceCorporation Bank share price, and Dhanlaxmi Bank share price were in focus today on the back of Reserve Bank of India's (RBI) move to take them out of prompt corrective action (PCA) framework.

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