Sensex pares losses, rises over 100 points ahead of US Fed meet

Mumbai: Reversing a five-session slide, benchmark Sensex ticked modestly higher in see-saw trade on Tuesday as investors piled into recently beaten down IT shares amid mixed global cues.

THE BSE Sensex on Friday dived nearly 510 points - its biggest single-day fall since Feb 6 - to close at 33,176 due to a major sell-off amid global trade worries and political concerns after the TDP quit the NDA and moved a no-confidence notice against the Government.

For the third straight week stocks ended in the red with the flagship Sensex recording a weekly fall of 131.14 points, or 0.39 per cent, and the NSE Nifty losing 31.70 points, or 0.30 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.4 per cent and Japan's Nikkei fell 1.0 per cent. The index had lost 741.94 points in the previous four sessions.

Subdued global markets and weakness in metal and energy stocks also weighed on the indices on Friday.

According to market observers, investors were cautious ahead of the US Federal Reserve's meet on March 20-21.

Packers reportedly sign Bears CB Kyle Fuller to an offer sheet
In the end, the Packers probably gave the Bears a big hand in getting a long-term deal done with their top cornerback. According to a tweet by NFL .com's Ian Rapoport, the word is that the Bears will choose to match the Packers' offer.

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Kelly also reassured his staff, telling them "I'm in", the Journal reports. McMaster is not the only senior official on thin ice with the president.

Trump blocks Broadcom's bid to buy Qualcomm
Qualcomm has confirmed it has received the notice, while Broadcom has yet to respond to TechRadar Pro's requests for comment. But Huawei is still the reason why Trump's administration intervened to block the purchase.

Meanwhile, on a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 292.23 crore on Monday, while domestic institutional investors (DIIs) sold shares worth Rs 191.52 crore, showed a provisional data revealed by the stock exchanges.

Most IT shares rose, with Wipro gaining 1.54%, followed by Infosys 1.30% and TCS 1.07%.

Losses in ONGC, ICICI Bank, Yes Bank, RIL, HDFC Bank, Kotak Mahindra Bank, Coal India, NTPC, M&M, IndusInd Bank and ITC capped the gains.

The pan-European Stoxx Europe 600 index advanced 0.2 percent. Besides Tech Mahindra, other top gainers on the index included Eicher Motors, Bharti Infratel and Tata Steel, closing 3-4 per cent higher. In the broader market, the BSE Midcap and the BSE Smallcap indices underperformed to lose up to 0.7 per cent.

Bulls remained confused as the potential global trade-war vented-out by Trump administration slowly but steadily came into intentness. In Europe, Frankfurt's DAX inched up 0.19%, while Paris CAC 40 rose 0.26% in their early deals.


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