Closing Bell
Indian shares fell for a third day, dragged by losses in metal makers and lenders, as foreign funds continued to pull money out of local equities.
The S&P BSE Sensex declined 0.1 percent to 26,489 and the NSE Nifty dropped 0.1 percent as well to 8,139. For the week, the 30-share BSE benchmark ended nearly 1 percent lower while the 50-share NSE benchmark lost close to 1.5 percent.
The market breadth turned in favour of the sellers at close as 1,000 declined, 594 advanced and 289 stocks remained unchanged.
Tech Stocks Extend Rally On Strong Dollar
The S&P BSE Information Technology index gained 0.5 percent to 10,027, extending its winning streak to day 4. In fact, the index has climbed seven out of the last nine trading session.
India’s software exporters are gaining on speculation that export revenues will grow after the Federal Reserve raised interest rates, boosting the dollar. Leading information technology firms got at least half of their revenues from North America in the last financial year through March 2016, according to data compiled by Bloomberg.
Despite the recent rally, the sectoral gauge remains one of the worst performers of 2016, down 9.2 percent YTD.
Indian shares fell for a third day, dragged by losses in metal makers and lenders, as foreign funds continued to pull money out of local equities.The S&P BSE Sensex declined 0.1 percent to 26,489 and the NSE Nifty dropped 0.1 percent as well to 8,139. For the week, the 30-share BSE benchmark ended nearly 1 percent lower while the 50-share NSE benchmark lost close to 1.5 percent.
The market breadth turned in favour of the sellers at close as 1,000 declined, 594 advanced and 289 stocks remained unchanged.
Tech Stocks Extend Rally On Strong Dollar
The S&P BSE Information Technology index gained 0.5 percent to 10,027, extending its winning streak to day 4. In fact, the index has climbed seven out of the last nine trading session.
India’s software exporters are gaining on speculation that export revenues will grow after the Federal Reserve raised interest rates, boosting the dollar. Leading information technology firms got at least half of their revenues from North America in the last financial year through March 2016, according to data compiled by Bloomberg.
Despite the recent rally, the sectoral gauge remains one of the worst performers of 2016, down 9.2 percent YTD.
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