IANS

Sensex ends lower on surging crude prices (Roundup)

Mumbai, April 8 (IANS) Weak global cues over the delay in Brexit deal, uncertainty around the US-China trade tension along with rising crude oil prices dented investor sentiment on Monday. Sensex and Nify closed nearly 0.5 per cent lower.

Among other factors, said analysts, was the weakness in rupee which helped the export-oriented IT sector stocks close in the green. All other Nifty sectoral indices ended in the red.

The Sensex closed 161.70 points or 0.42 per cent lower at 38,700.53, while the Nifty ended 61.45 points or 0.53 per cent at 11,604.50 points.

“Domestic markets started this week on a weak note given the global cues on account of drag in the US-China trade deal and Brexit delays. Investors have turned cautious given the rise in oil prices and a sharp rally in the last couple of months leading to premium valuation of key indices,” said Vinod Nair, Head of Research, Geojit Financial Services.

“Additionally, general elections and start of Q4 earnings season are also adding to investor turning the cautious. We may see some profit booking in the near-term given the sharp run-up in markets.”

The top gainers on the BSE were Infosys, Mahindra & Mahindra, ONGC and NTPC, which advanced up to 2 per cent.

Yes Bank, Bajaj Finance, Vedanta, Tata Motors and Tata Motors (DVR) slid in the range of 2-3 per cent.

–IANS

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(This story has not been edited by Newsd staff and is auto-generated from a syndicated feed.)
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