Sensex, Nifty extend losses; All sectoral indices trade in red

Henrietta Brewer
October 18, 2017

The BSE Sensex was stuck in negative territory during the morning session on Wednesday. The BSE Sensex, after scaling a new intra-day high of 32,699.86 in early trade on sustained buying by domestic institutional investors (DIIs), succumbed to profit booking and closed the day at 32,609.16, down 24.48 points or 0.08 per cent.

The broad-based Nifty slipped from record by falling 29.30 points, 0.29 per cent, to 10,205.15.

Brokers said sentiment turned bearish on unabated foreign fund outflows and lower-than-expected Q2 earnings by some bluechip companies amid profit-booking in recent gainers.

Shares of Axis Bank were the biggest loser on Sensex after the bank reported a fresh slippage, assets turning into bad loans, to the tune of Rs 8,936 crore, including Rs 4,867 crore in "divergence" found by the Reserve Bank on its FY17 provisions treatment.

Markets will conduct a special "Muhurat" trading session tomorrow between 18:30 hrs and 19:30 hrs on the auspicious occasion of Diwali.

Shares of Wipro Ltd however rose as much as 3.2 percent after second-quarter profit beat estimates and as the software services exporter said it would match industry growth rates by the fourth quarter.

At 10.30 AM: Sensex fell over 133 points or 0.41% at 32,475.52 while the wider Nifty was down by over 49 points or 0.48% at 10,185.45.

Hong Kong's Hang Seng was down 0.09 per cent while Japan's Nikkei rose 0.13 per cent in early trade today. Frankfurt's DAX 30 was up 0.02 per cent while Paris CAC 40 was down 0.05 per cent. London's FTSE edged higher 0.02 per cent. The Nasdaq Composite dipped 0.35 point, or 0.01% to 6,623.66.

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