Tag Archives: drag

Closing bell: Sensex falls 216 pts, Nifty holds 9900; pharma stocks drag

3:30 pm Market Closing: Equity benchmarks ended lower for third consecutive session Wednesday on further profit booking. Geopolitical tensions hit market sentiment. The 30-share BSE Sensex was down 216.35 points at 31,797.84 and the 50-share NSE Nifty fell 70.50 points to 9,908.05. More than three shares declined for every share rising on the BSE. 3:24 pm Market Check: Equity benchmarks extended ... Read More »

Weak U.S. productivity likely to remain a drag on profits

U.S. nonfarm productivity fell less sharply than initially thought in the first quarter and labor-related costs surged for a second straight quarter as companies hired more workers to raise output, suggesting profits could remain under pressure. The Labor Department said on Tuesday productivity, which measures hourly output per worker, contracted at an annualized rate of 0.6 percent, instead of the ... Read More »