Indian share markets continued to trade weak in the afternoon session and finished in red for third consecutive session. At the closing bell, the BSE Sensex closed lower by 318 points, while the NSE Nifty closed down by 91 points. Meanwhile, the S&P BSE Mid Cap & the S&P BSE Small Cap closed down by 1% and 0.9% respectively. Losses were largely seen in auto stocks, FMCG stocks and consumer durable stocks.
Bharti Airtel share price was among the top losers on both the NSE and BSE indices, slipping 3.2%. It is reported that the company is planning to hike capex to Rs 300 billion in FY18 to take on the Idea-Vodafone merger.
Asian stock markets fell following overnight declines in U.S. financial markets as investors re-evaluated their "Trump trade" optimism. The Nikkei 225 is down 2.13% while Hong Kong's Hang Seng is off 1.11% and China's Shanghai Composite is lower by 0.50%. European markets too are lower today with shares in France off the most. The CAC 40 is down 0.88% while London's FTSE 100 is off 0.85% and Germany's DAX is lower by 0.68%.
The rupee was trading at Rs 65.45 against the US$ in the afternoon session. Oil prices were trading at US$ 47.50 at the time of writing.
According to an article in The Economic Times, Coal India is considering producing petroleum oil at its Chatra coal mine in Jharkhand. The Chatra mine comes under its subsidiary Central Coalfields. Petroleum oil from coal is part of the company's diversification plan.
Coal India share price finished the trading day down by 0.2% on the BSE.
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