Kashmir Indepth

Sensex drops over 200 points; Nifty slips below 10,900

The BSE benchmark Sensex on Wednesday dropped over 200 points and NSE Nifty fell below the 10,900 mark on selloff in metal and auto stocks amid weak cues from other Asian markets and foreign fund outflow.

The 30-share index was trading 198.83 points, or 0.55%, lower at 36,055.74 in morning trade.

Similarly, the NSE Nifty declined by 61.35 points, or 0.56%, to 10,848.75.

On Tuesday, the BSE Sensex closed at 36,254.57, rising 186.24 points or 0.52%; and the NSE Nifty ended at 10,910.10, gaining 47.55 points or 0.44%.

India VIX, the volatility index for equities, was up nearly 4%.

The biggest losers in the Sensex pack include M&M, HDFC twins, Kotak Bank, Reliance Industries, Axis Bank, Tata Steel, Vedanta and ONGC, falling up to 2%.

Among gainers were TCS, Infosys, SBI and Yes Bank, rising up to 1%.

Weakness in Asian stocks and selling by foreign institutional investors hit market sentiment on Wednesday, traders said.

According to Hemang Jani, Head – Advisory, Sharekhan by BNP Paribas, low trading volumes are expected during the week, as worldwide financial markets were closed on New Year day.

On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 48.19 crore Tuesday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 142.58 crore, provisional data available with BSE showed.

Elsewhere in Asia, Hong Kong’s Hang Seng was down 2.40%, Kospi fell 1.02% and Shanghai Composite Index dropped 1.01% in early trade.

Japanese market and Wall Street were closed on Tuesday.

The rupee opened marginally lower at 69.52 against the US dollar.

Meanwhile, the benchmark Brent crude futures were trading lower by 1.35% $53.39 per barrel.

Related posts

District Magistrate lifts curfew after situation remains incident-free in Srinagar
Existing restrictions to remain in force in view of COVID-19 situation in district: DM

Kashmir Indepth

PM Modi addresses BJP workers on birth-anniversary of Pandit Deendayal Upadhyay

Kashmir Indepth

DNA samples of 3 men killed in Shopian encounter match with families from Rajouri: J-K Police

Zainab Hamdani

DAK skeptical of Russian Covid-19 vaccine

Kashmir Indepth

Communally sensitive pictures shared on Facebook, cyber police Jammu starts investigation
‘Police request people not to fall prey to the agenda of anti-social elements’

Kashmir Indepth

J&K Bank contributes 85 pc of total credit disbursement of Rs 542.69 Cr in Bandipora

Kashmir Indepth

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy