Sensex, Nifty Halt Four-Day Winning Streak As Metal, IT Shares Fall

Domestic equity benchmarks snapped their four-day winning Series Dragged by weakness in information engineering, metal and capital goods stocks. The S&P BSE Sensex dropped 0.15 percent or 54 points to close 36,671 and the NSE Nifty 50 Index fell 0.21 percent or 23 points to finish at 11,035. The benchmarks started on a weak note mirroring weak Asian markets following data revealed Chinese exports contracting with a fifth, deepening worries for the entire world market and forcing global stocks to three-week troughs.

Chinese stocks dropped more than 4 percent in Their worst day at five months while Japan’s Nikkei. Closed 2 percent reduced, news agency Reuters reported.

Industry indicators compiled by BSE stopped on reduced contributed by the S&P BSE Metal Index’s 1.57 percent decrease. Information technologies, capital goods and industrial indicators also fell over 0.5 percent each. On the flipside, S&P BSE Utilities Index was leading gainerup 1.09 percent.
Mid- And small-cap stocks were little changed in the present session since the S&P BSE MidCap and S&P BSE SmallCap indexes ended 0.08 percent reduced.

Tata Motors has been the leading loser from Nifty 50 basket of stocks, the stock dropped 4.54 percent to Rs. 180.70. Wipro, HCL Technologies, Tata Steel, Indiabulls Housing Finance, Hindalco and Vedanta were among the winners.

The general market breadth was somewhat negative as 1,432 stocks ended reduced while 1,210 closed higher on the BSE.

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