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Sensex, Nifty fall for second day as focus shifts to GDP data

Bitcoin made headlines on Wednesday, soaring past the $10,000 mark for the first time.

Updated: Nov 29, 2017, 04.43 PM IST
Watch: Sensex slips in cautious trade ahead of F&O expiry, GDP data
NEW DELHI: Indian equities put up an uninspiring show on Wednesday, as investors chose to sit on the sidelines, ahead of the release of September quarter GDP data and derivatives expiry on Thursday. North Korea’s latest missile test also hit market mood.

BSE Sensex shed 16 points or 0.05 per cent to end at 33,602.76, while Nifty50 closed at 10,361.30, down 9 points or 0.09 per cent.

Losses in index heavyweights HDFC, Axis Bank, SBI, TCS and Asian Paints contributed to the fall.

In global news, bitcoin made headlines on Wednesday, soaring past the $10,000 mark, just two days after hitting the $9,000 level.

Rcom continued its losing streak for a second consecutive day after China Development bank dragged the telecom-major to the bankruptcy court to recover nearly $1.78 billion. The stock fell 3.88 per cent and dragged the BSE Midcap index 0.17 per cent lower to 17,010.51.

Other key midcap losers were SAIL (down 3.21 per cent), Nalco (down 2.80 per cent), Tata Global Beverages (down 2.80 per cent), Dalmia Bharat (down 2.56 per cent) and Page Industries (down 2.45 per cent).

On the BSE Smallcap index, Steel Exchange India bled 20 per cent to Rs 104.20.

Defying the overall gloomy sentiment were smallcaps stocks such as ADF Foods, Nucleus, RJL, MIC, PPAP and Forbes Company that surged over 12 per cent each.

Realty stocks outperformed with Nifty Realty (up 0.70 per cent) being the top sectoral gainer. It was followed by Nifty Pharma, which ended 0.36 per cent higher at 9,352.40.

Nifty PSU Bank index was the sectoral loser, even as the government on Wednesday announced that it will soon begin issuing recapitalisation bonds.

Globally, China's blue-chip CSI300 index was down 0.05 per cent while Japan's Nikkei index closed up 0.49 per cent.

In Europe, pan-European STOXX 600 benchmark climbed 0.6 per cent to its highest level in more than two weeks, buoyed by strength among financial stocks and gains across all sectors, Reuters reported.

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