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.

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