A morning walk down Dalal Street | Market likely to consolidate before fresh breakout
Episode 1735, Sep 30, 2019, 01:30 AM
The 30-share Sensex closed the day with a loss of 167 points, or 0.43 percent, at 38,822.57, with 20 stocks in the red, while the Nifty50 finished 59 points, or 0.51 percent, lower at 11,512.40. Among the 50 stocks in the index, 39 suffered losses.
Foreign institutional investors (FIIs) sold shares worth Rs 213.6 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 458.68 crore in the Indian equity market on September 27, as per provisional data available on the NSE.
"Mixed global cues in the wake of rising political uncertainty in the US and lingering uncertainty surrounding the US-China trade war hurt sentiments," said global financial firm Standard Chartered in a note.
Experts are of the view that the market may see some consolidation due to sharp gains during the previous week.