Sensex rises over 100 points; Nifty above 10750

Sensex today DRL Tata Motors top loser index ends 73 points lower even as world stocks trade higher

The benchmark indices on Thursday pared morning gains to end lower as investors turned cautious, keeping to the sidelines ahead of elections in Karnataka.

The benchmark BSE Sensex closed down 0.21 percent at 35,246.27. Sensex in the early trade was trading 177 points or 0.50 per cent above at 35,496 while Nifty was up 40 points or 0.37 per cent at 10,781. Losses for domestic stock markets came a day after the USA government pulled out of an worldwide nuclear deal with Iran, raising the spectre of re-imposition of sanctions and sparking worries about global oil supplies.

The Sensex has so far touched a high of 35,500.76 points and a low of 35,249.36 points during the intra-day trade.

Indian Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) will be looking to gain a foothold in Karnataka, the first big state electing an assembly this year to be followed by three others before general elections next May. Brent crude futures, the global benchmark for oil prices, hit their highest level since November 2014 at United States dollars 77.76 per barrel today. The major losers were Dr Reddy's Lab, Indiabulls Housing Finance and Power Grid.

There were selling in mid-cap and small-cap counters with the BSE Mid-Cap Index and BSE Small-Cap Index down 1.5 per cent and 1.36 per cent, respectively. The bank's Q4FY18 net profit was below estimates, which has declined by 43.5% yoy to Rs145cr against Rs256.6cr in Q4FY17.

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