Tag : Trend

Delhi: Larsen & Toubro was the top laggard in the Sensex pack, tumbling 2.34 per cent, followed by Bajaj Finserv, Bajaj Finance, PowerGrid, NTPC, Infosys, Maruti and ITC. The Sensex and Nifty spiralled lower for the fourth session on the trot on Wednesday as investors remained on edge ahead of US inflation data, which will give clues on the Federal Reserve's policy tightening trajectory. Unabated selling by foreign institutional investors and a jump in crude prices also weighed on sentiment, traders said. Despite a firm start, the 30-share BSE Sensex failed to carry forward the momentum and ended at 54,088.39, lower by 276.46 points or 0.51 per cent. During the day, it tumbled 845.55 points to 53,519.30. Similarly, the NSE Nifty slipped 72.95 points or 0.45 per cent to settle at 16,167.10. Larsen & Toubro was the top laggard in the Sensex pack, tumbling 2.34 per cent, followed by Bajaj Finserv, Bajaj Finance, PowerGrid, NTPC, Infosys, Maruti and ITC. In contrast, Axis Bank, IndusInd Bank, HDFC, Kotak Mahindra Bank, HDFC Bank, Bharti Airtel and ICICI Bank were among the gainers, jumping up to 1.92 per cent. "Investors continue to remain wary despite global markets trading in green due to drop in domestic investors confidence and FII selling. "The market turned volatile waiting for the release of April US inflation data, which is expected to cool down marginally. "Inflation will continue to be elevated but the chance of major reactions is low because it has been factored in by the markets. "The major determinant for market direction would be the pace of decline in inflation in response to the Fed measures," said Vinod Nair, head of research at Geojit Financial Services. In the broader market, the BSE smallcap gauge tumbled 2.2 ...