Sensex Ends The Day Lower; Vedanta Surges 10%

Business

oi-Sunil Fernandes

Benchmark indices ended the day flat, as global markets were tentative, ahead of conclusion of the US Fed meet.

By Sunil Fernandes

Updated: Tuesday, November 1, 2016, 15:32 [IST]

Benchmark indices ended the day flat, even as metal stocks were in the limelight led by a surge in several bluechip metal names.

Global cues were also quiet, ahead of the conclusion of a 2-day policy meet of the US Federal Reserve. World markets were also tentative ahead of the US Presidential elections scheduled next week, where there was a comeback by Republican nominee, Donald Trump.

The Sensex ended the day lower by 53 points, while the Nifty ended higher by 0.50 points. Metal stocks had a fantastic run in trade today, led by Vedanta, which surged a huge 10 per cent. Other gainers were also from the metal space including the likes of Hindalco and Tata Steel.

IT stocks were very weak in trade with Infosys plunging to a new 52-week low of Rs 990, while TCS also declined, as investors continued to sell into IT stocks.

Among the non index stocks Ujaas Energy surged 11 per cent after the company reported a good set of quarterly numbers and the company also bagged an order from Airport Authority Of India. BGR Energy also gained after the company bagged an order worth Rs 2,600 crores from the Tamil Nadu government.

Shares on Eicher Motors' fell a huge 6 per cent, after Royal Enfield October sales was up 33 per cent at 59,127 units versus 44,522 units.

Meanwhile, the rupee was last seen trading at 66.71 to the US dollar. Check currency rates here

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