Sensex, Nifty Close Lower For 3rd Straight Day

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(RTTNews) - Indian benchmark indices Sensex and the Nifty50 posted losses for the third consecutive session as stocks fell on Wednesday with lingering concerns about U.S. interest rates continuing to outweigh recent strong economic data from China.

Technology stocks, which recovered a bit in the previous session after having suffered sharp losses at the start of the week, turned weak again and contributed significantly to market's decline today.

PSU bank stocks were a bit weak due to profit taking after recent strong gains. Media stocks were weak, while metal stocks failed to hold early gains.

The BSE Sensex, which fell to 59,452.72 around mid afternoon, ended the session with a loss of 159.21 points or 0.27% at 59,567.80. The Nifty50 settled at 17,618.75 with a loss of 41.40 points or 0.23%.

HCL Technologies ended 2.4% down ahead of the company's quarterly earnings announcement, due on Thursday.

Infosys drifted lower by 2.28%, Wipro ended 1.8% down, and Tata Consultancy Services lost 1.36%, while Tech Mahindra shed a little over 1%.

IndusInd Bank declined 2.35%. NTPC and Asian Paints both shed about 1.7%. UltraTech Cement, State Bank of India, Sun Pharmaceuticals, Tata Motors, Hind Unilever, Maruti Suzuki and ICICI Bank lost 0.5 to 1.1%.

Axis Bank, Mahindra & Mahindra, Bharti Airtel, HDFC, HDFC Bank, Tata Steel, Reliance Industries and Bajaj Finance gained 0.5 to 1.05%.

BPCL, up 2.4%, was the top gainer in the Nifty index. Divi's Laboratories gained nearly 2%. Eicher Motors and JSW Steel posted modest gains.

SBI Life, HDFC Life, Cipla, Coal India, Tata Consumer Products and Grasim Industries ended notably lower.

ICICI Lombard General Insurance shares slid 4.75% despite reporting higher earnings. The insurer reported a net profit of Rs 437 crore for the January-March quarter, up 40% from a net profit of Rs 312 crore it posted in the year-ago quarter.

On BSE, 1,811 stocks posted gains, and 1,701 stocks closed weak, while 122 stocks ended flat.

Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market moves on Wednesday, reversing the gains in the previous two sessions, with the benchmark S&P/ASX 200 falling well below the 8,850 level, despite the broadly positive cues from Wall Street overnight, with weakness in energy and financial stocks partially offset by gains in mining and technology stocks.

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Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, boosted by Hong Kong and Japanese markets amid improved outlook for interest rates after US consumer price inflation for July came in line with expectations. The U.S. and China also confirmed a 90-day extension of their trade truce. Asian markets closed mixed on Tuesday.

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Sensex, Nifty Set For Positive Open As Retail Inflation Hits 8-year Low

Indian shares look set to open on a positive note Wednesday after official data showed India's consumer price inflation eased more-than-expected in July to the lowest level in just over eight years amid a continued fall in food prices.

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Rebound Anticipated For Thai Stock Market

Ahead of the long holiday weekend for Queen Sirikit's birthday, the Thai stock market had ended the four-day winning streak in which it had surged almost 50 points or 4.1 percent. The Stock Exchange of Thailand now sits just beneath the 1,260-point plateau although it's expected to bounce higher again on Wednesday.

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Japanese Market Sharply Higher

The Japanese stock market is sharply higher on Wednesday, extending the gains in the previous six sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving a tad above the 43,300 level to fresh record all-time highs, with gains across all sectors led by exporters and financial stocks.

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Indonesia Bourse May Test Resistance At 7,800 Points

The Indonesia stock market has tracked higher in three straight sessions, improving more than 300 points or 4 percent along the way. The Jakarta Composite Index now sits just above the 7,790-point plateau and it may at least open higher again on Wednesday.

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Additional Support Called For Hong Kong Stock Market

The Hong Kong stock market has moved higher in back-to-back sessions, gathering more than 110 points or 0.4 percent along the way. The Hang Seng Index now rests just beneath the 24,970-point plateau and it's expected to open to the upside again on Wednesday.

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Australian Market Modestly Lower

Australian shares are trading modestly lower on Wednesday after opening in the green, reversing the gains in the previous two sessions, with the benchmark S&P/ASX 200 staying well below the 8,900 level, despite the broadly positive cues from Wall Street overnight, with weakness in energy and financial stocks partially offset by gains in mining and technology stocks.

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EURUSD	1.16847	GBPUSD	1.35035	AUDUSD	0.65287
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