Sensex ends 106 points lower over declining banking stocks

Sensex and Nifty ended lower on Thursday over a sharp rise in crude oil prices and decline in banking stocks.

Brent crude futures on Thursday surpassed the $61-a-barrel mark around the closing bell. The Indian currency followed suit and weakened to Rs 70.54 per dollar after closing at 70.46.

Index-wise, the Nifty50 declined by 33.55 points or 0.31 per cent to settle at 10,821.60.

The Sensex closed at 36,106.50, lower by 106.41 points or 0.29 per cent from the previous close of 36,212.91.

It had opened at 36,258 points and touched an intra-day high of 36,269.31 and a low of 36,070.76.

Also, investors awaited Q3 corporate results and more clarity regarding US-China trade talks.

The weekly report released on Wednesday by the Energy Information Administration showed that US crude oil inventories decreased during last week, Anuj Gupta of Angel Broking told IANS. 

Gupta added that the rise in price was positive for crude as crude prices had seen volatility in recent months because of the imbalance demand-supply ratio.

He added that crude price rise will have an adverse affect on the Indian rupee.-IANS