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Sensex Ends Lower For 5th Straight Day On Commodities Slump

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Benchmark indices ended the day lower as investors once again worried over the slump in commodity prices, particularly crude oil. The fate of the GST Bill, following frequent disruptions in the Rajya Sabha also was a cause of concern in trade.

The Sensex ended the day lower by 219.98 points, while the Nifty ended the day lower by 75.50 points.

Sensex Ends Lower For 5th Straight Day On Commodities Slump
Biggest losers were commodity stocks including the likes of oil and metal companies.
 

Hindalco was the top loser along with Vedanta from the Nifty space, as investors sold heavily into commodity stocks. Oil exploration major, ONGC also fell, after crude fell to a 7-year low.

HDFC twins, HDFC Bank and HDFC also fell on selling from foreign funds.

Among the gainers in trade were select auto stocks like Bajaj Auto and Tata Motors. ITC, which slumped as much as 7 per cent in trade on Monday, managed to end the day with gains.

Tata Motors rallied after the company said that Jaguar Land Rover retail sales were 27 percent at 46,547 units (YoY).

The Mid cap index saw a deeper cut of one per cent with GMR Infra falling 4 per cent, while Reliance Power was down 5 per cent. Unitech and Voltas were the other major losers from the space.

Meanwhile, markets across Asia ended the day with losses, while poor overnight closings in the US. European markets were also trading lower.

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