Equity markets jittery over global cues, GST Council meet

BSE Sensex opened lower on Wednesday

The 30-share Sensex stayed in the negative zone throughout the session and hit a low of 30,393.72, before settling at 30,434.79, down 223.98 points or 0.73 percent. The Bank Nifty fell almost 1 per cent on the back of losses in Punjab National Bank, Yes Bank, Axis Bank, IDFC Bank, State Bank of India, Federal Bank and Kotak Mahindra Bank. This was followed by a fall in autos, banks, energy, FMCG as well as pharmaceuticals.

Earlier on Wednesday, major US indices declined on reports of a memo from former FBI Director James Comey that President Donald Trump asked him to stop the investigation of former national security adviser Michael Flynn.

The Sensex was up by 76.17 points or 0.25 per cent at the Wednesday's closing.

"The equity benchmark indices started off the day on a weak note tracking bearish global cues".

On the other hand, silver cracked below the Rs 39,000- mark by falling Rs 500 to Rs 38,800 per kg due to reduced offtake by industrial units.

Orioles' Machado out of starting lineup vs. Tigers
The White Sox scored three in a wild ninth inning to extend the game, then took a 6-5 lead in the 11th on Tim Anderson's home run. The pitching matchup for tonight's game has Matt Boyd (2-3, 3.89 ERA) on the mound to face Wade Miley (1-1, 2.45) of the Orioles.

Indian equities dropped on Thursday erasing earlier gains. VIX rising by nearly 10 percent also prompted investors to lock in profits. Asian markets followed a sharp fall in the USA markets on Trump's indecision on future, following reports of interference in Federal investigation. Now, Indian equity markets stand as the ninth largest equity market after China.

CESC fell as much as 15 percent on restructuring news. Metal giant Tata Steel closed 8% up post Q4 results.

JSW Steel's net profit zoomed to Rs 1,003 crore from Rs 367 crore in the corresponding period last year while income from operations rose 60 percent to Rs 16,952 crore as against Rs 10,615 crore in the year-ago period, the company said in a statement.

Among gainers was exclusively the information technology (IT) space, which surged on the back of positive sentiment post crisis in the Trump administration as well as a weak rupee. IT stocks bucked the weak trend, with Infosys, TCS and Wipro rising 1-3 percent amid rupee weakness.

Markets are slightly overheated after the recent rally and finally got the reason to lighten up. Hence, despite poor opening, we may see some short covering during the session today if Nifty recovers and continues trading above 9350 level.

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