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Sensex, Nifty take a breather; Bajaj Consumer surges 12%, DHFL drops 5%

Analysts largely expect indices to consolidate around the prevailing levels.

ETMarkets.com|
Last Updated: Oct 17, 2019, 09.47 AM IST
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NEW DELHI: Domestic equity indices took a breather in Thursday’s trade, after rising for four consecutive days. Analysts largely expect indices to consolidate around the prevailing levels in the coming sessions.

At 9.30 am, the 30-share Sensex was quoting 10 points lower at 38,600. NSE flagship Nifty was down 13 points at 11,450.

Bajaj Consumer Care continued its recent rally to surge 12 per cent to Rs 263. The scrip surged 20 per cent on Wednesday.

Crisis-hit DHFL fell 4 per cent to Rs 19.40. The company has emerged as the mysterious lender that gave loans worth Rs 2,186 crore to Sunblink Real Estate, the firm at the centre of investigations into the financial operations of late Dubai-based gangster Iqbal Memon.

Midcap IT firm Mindtree fell 1.5 per cent to Rs 731.70 after the company reported a 34.6 per cent drop in consolidated net profit at Rs 135 crore in September quarter.

Among sectoral indices, Nifty Metal index was the biggest loser in early trade. The index fell 1 per cent, hurt by selling pressure in Vedanta and Hindalco that fell 1.5 per cent each. Nalco was down 4 per cent, as coal shortages have severely impacted its aluminium production.

In other parts of Asia, stocks barely moved as soft US retail sales data raised fears about the health of the world's largest economy, sucking the steam out of a five-session rally. Hopes of a Brexit deal kept UK’s currency sterling higher.

South Korean, Australian and New Zealand indices were all trading in the red. Chinese shares were mostly flat while Japan's Nikkei ticked up and US stock futures were barely changed.

That left MSCI's broadest index of Asia-Pacific shares outside Japan slightly higher with gains largely led by Hong Kong's Hang Seng index
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

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