Share Market Live Updates:Â After closing in red on the last two trading sessions, Indian equity benchmark indices eroded all gains to settle nearly half a per cent lower on Tuesday (May 7). The stock market repeated a similar pattern that of Monday and last Friday, where it failed to hold on early gains.
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Sensex closed 383.60 points, or 0.52 per cent lower at 73,511.85 while Nifty inched 140.20 points, or 0.62 per cent lower at 22,302.50. During the session, Nifty moved below its 50-day moving average.
Early today, the frontline indices opened higher on strong global cues, supported primarily by US indices. BSE Sensex inched 77,76 points, or 0.11 per cent higher at 73,973.30 while NSE Nifty50 inches 47.10 points, or 0.21 per cent higher at 22,489.80.
Among sectoral indices, FMCG, IT and consumption remained the only three Nifty sectoral indices in green with FMCG inching over 1,100 points to settle at 33,473.00. Shares of FMCG major Marico advanced nearly 10 per cent after the company reported a 4.9 per cent rise in consolidated net profit in Q4. Pharma, metal, energy, auto indices remained top laggards.
In the currency market, Rupee settles on flat note at 83.52 against US dollar. The Indian currency rose 4 paise to 83.48 against US dollar in early trade.
Participating in the global rally is Asian indices, which has advanced on rate cut optimism in the US. Japan’s Nikkei is trading 599.03 points, or 1.57 per cent at 38,835.10 while South Korea’s Kospi inched 57.73 points, or 2.16 per cent higher to settle at 2,734.36.
On Monday, after trading in green for initial hours, both frontline indices eroded gains to close near flatline. Sensex inched 17.39 points, or 0.02 per cent higher to settle at 73,895.54 while Nifty inched 33.15 points, or 0.15 per cent lower at 22,442.70.
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