Equity indices close on subdued note on F&O expiry day (Second Lead)

The 10-year bond yield was at 7.05% compared to its previous close of 7.03

Key Indian equity indices on Thursday traded on a subdued note in the mid-afternoon session with heavy selling pressure in banking, auto and metal stocks.

The market breadth was in favour of declines as 1268 shares advanced against a fall of 1409 shares, while 145 shares were unchanged.

India's fiscal deficit stood at Rs 5.25 lakh crore during April-October of 2017-18, crossing 96 percent of the budget estimate due to lower revenue realization and rise in expenditure, according to data compiled by the Controller General of Accounts (CGA). The rupee opened at 64.57 a dollar. and touched a high and a low of 64.42 and 64.57 respectively. At 9.26 a.m, the Sensex was trading down 177.63 points or 0.53% at 33,425.13 with 22 components falling.

This was its biggest single session fall since November 15 past year, when it had lost 514.19 points. The 50-share NSE Nifty too dropped 29.30 points, or 0.28 per cent, at 10,370.25.

This was its biggest single day fall since September 27 this year, when it had lost 135.75 points.

"Market slid and rupee depreciated as widened fiscal deficit concerns and expectation of extension in oil production cut from OPEC influenced investors to offload funds from the market".

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Major losers were Reliance Industries, Cipla and Kotak Bank which fell up to 1.75 percent.

Dr Reddy's and NTPC were the only gainers, rising up to 0.45 per cent.

In the Asian region, Hong Kong's Hang Seng shed 0.19 per cent, Singapore fell 0.10 per cent while Japan's Nikkei ended 0.49 per cent higher. The BSE index for midcap stocks BSE smallcap index fell 0.50 per cent while BSE smallcap index rose 0.08 per cent.

The 10-year bond yield was at 7.05%, compared to its previous close of 7.03%.

Asian currencies were trading lower.



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