Friday, 06 December, 2019

Sensex plunges over 400 points; Nifty below 9800

BSE Sensex traded higher on Wednesday BSE Sensex traded higher on Wednesday
Debra Rodriguez | 21 August, 2017, 01:06

On similar lines, the National Stock Exchange index Nifty dropped by 73.95 points or 0.74 per cent to 9,830.20.

Sentiment was also upbeat across global markets with Asian shares advancing as tensions between the USA and North Korea came off the boil, although the Federal Reserve's concerns about weak US inflation weighed on the dollar.

Tech Mahindra gained 1.06 per cent while HCL Tech rose 0.79 per cent.

Stocks of consumer goods companies were back in the limelight on value-buying, recovering from recent losses sparked by worries over the impact from recently launched Goods and Services Tax (GST) in July.

The NSE Nifty, after recapturing 9,900, advanced to hit a high of 9,947.80, but ended at 9,904.15, up 6.85 points, or 0.07 per cent.

South Korea military drills about to begin
North Korea has already released a statement regarding the announced exercise through the Central News Agency. A JCS official made the announcement during a regular briefing on Friday.

The BSE Sensex, which opened at 31,729.88 points, was trading at 31,586.34 points (at 9.19 a.m.), lower 209.12 points or 0.66 per cent from Thursday's close at 31,795.46 points. Other gainers were NTPC 3.94 per cent, Coal India 3.78 per cent, VEDL 2.56 per cent and Bharti Airtel 2.11 per cent. Among other Asian markets, Hong Kong's Hang Seng index was up 0.09 per cent while Japan's Nikkei shed 0.13 per cent. Shanghai Composite Index down 0.32 per cent.

Infosys, the country's second largest IT exporter, zoomed most by 4.54 per cent, after the company said the board will take up a proposal for buyback of shares on Saturday, helping the key indices post gains for the third day in a row.

The Sensex touched a high of 31,729.88 points and a low of 31,560.89 points in the trade so far. The Sensex was up by 321.86 points or 1.02 per cent at the Wednesday's closing.

Karthikraj Lakshmanan, Senior Fund Manager - Equities, BNP Paribas Mutual Fund said, "Stocks across the globe traded with caution as uncertainty surrounding internal United States policy continued to weigh on investor sentiment despite receding North Korean tensions".

The index was up by 77.82 points or 0.24% up at 31848.71.

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