Economy

Sensex drops 253 points at 32116.74, Nifty below 10050

Sensex drops 253 points at 32116.74, Nifty below 10050”

The Sensex and Nifty fell on Friday following nervousness in global markets as investors turned cautious following new USA sanctions targeting North Korea and a China credit rating downgrade.

The Nifty50 of the National Stock Exchange (NSE) fell by 6.40 points or 0.06 per cent to close at 10,141.15 points, while the Sensex closed at 32,400.51 points - down 1.86 points, or 0.01 per cent. "There will be some kind of profit-booking at these levels wherein a large amount of froth had been built up in the last 1-1/2 months", said Virmani.

Banking stocks were among the top laggards, with the S&P BSE Bankex index declining 1.5 percent.

On the other hand, Sun Pharmaceutical Industries (1.10%), Wipro (0.88%), Dr Reddy'S Laboratories (0.52%), and Maruti Suzuki India (0.46%) were the biggest gainers in the Sensex.

Among the top Sensex losers: ICICI Bank fell 2.2 percent, Coal India fell 2 percent, Hero MotoCorp dropped 1.9 percent while Tata Steel lost 1.8 percent.

The BSE market breadth was bearish - 1,554 declines and 1,002 advances.

Indian shares fell 1 percent on Friday, while the rupee hit its weakest point since early April amid concerns that the government's plan for a stimulus to halt an economic slowdown may have a negative impact on the fiscal deficit. Finance Minister Arun Jaitley has said the government is considering additional measures to bolster the economy.

Japan's benchmark Nikkei 225 slipped 0.4 percent to 20,273.26 and South Korea's Kospi lost 0.7 percent to 2,389.83. Hong Kong's Hang Seng shed 0.8 percent to 27,877.19 and the Shanghai Composite fell 0.5 percent to 3,341.72. Australia's S&P/ASX 200 edged up 0.4 percent to 5,675.70. The Standard & Poor's 500 index lost 0.3 percent to 2,500.60.

The US Dow Jones Industrial Average ended 0.24 per cent lower 21 September.



Like this

Latest


22 September 2017
Debbie McGee says Strictly brings her happiness
Continuing about her 27-year-old dance partner, she said: "I love dancing with Giovanni, I just feel like I am floating on air". Speaking about their connection, she told Christine Lampard, who was hosting the show today: "We are really plugged in".

22 September 2017
Myanmar police fire warning shots in Rakhine as mob attacks aid boat
UNITED NATIONS (AP) - Myanmar is trying to reassure the world about its handling of the exodus of Rohingya Muslims to Bangladesh. However, she did not address the United Nations accusations of ethnic cleansing by the military, which is in charge of security.

22 September 2017
USA has 'many' military options in Korea crisis: Mattis
He knows what the terrain looks like, he knows what the risks are, he knows how deeply buried and dispersed the North Koreans are. North Korean leader Kim Jong-un fired a mid-range missile over Japan just three days after the latest resolution was adopted.

22 September 2017
Asian shares mixed as Nikkei rises on yen, muted elsewhere
That nudged MSCI's index of world stocks to a new all-time high while futures prices pointed to a new record high on Wall Street . Japan's trade surplus stood at 113.6 billion yen ($1.92 billion U.S.) - above the 93.9-billion yen forecast.

22 September 2017
Afghan president says Pakistan must crush militant hideouts
He also said that Afghan forces were leading the fight and said he did not want "a blank check" offering unlimited American help. But in recent years, security sources said, the U.S. has reduced its dependence on Pakistan to just 15 per cent.

22 September 2017
Nine killed in Rohinga relief-laden truck plunge in Bangladesh
Naikhongchhari Upazila administrator Sarwar Kamal said the injured were undergoing treatment at the nearest health complex. Local residents rushed at least 14 people at different health facilities, where three others died, he added.

22 September 2017
SpiceJet's Ajay Singh may take control of NDTV
The Indian Express today reported that SpiceJet owner Ajay Singh has picked up majority holding in NDTV. DTC's fleet rose from 300 to 6,000 within two and a half years while he was at the helm.

22 September 2017
Hot Stocks Among Investors: Community Health Systems, Inc. (CYH), Cherokee Inc. (CHKE)
Alps Advisors Inc. acquired a new position in Community Health Systems in the second quarter valued at approximately $107,000. The value of the investment in (CYH) increased from $1,808,000 to $2,191,000 a change of 21.2% quarter over quarter.

22 September 2017
Graham Implores Colleagues to Vote for GOP Health Bill
Senate Majority Leader Mitch McConnell intends to put the bill on the floor for a vote some time next week . It did note that the bill "creates a funding cliff after 2026 when funding needs to be re-appropriated"'.

22 September 2017
Moon Calls for Peaceful Resolution to North Korean Nuclear Issue
Trump said Thursday the USA will impose additional sanctions over the communist country's nuclear weapons buildup. Trump signaled ahead of the meeting that new sanctions would be announced against North Korea.



Recommended