Sensex tanks 293 points on weak Asian cues; Nifty below 10400-mark

Share
Sensex tanks 293 points on weak Asian cues; Nifty below 10400-mark

Benchmark equity indices recouped all the losses, with the Nifty reclaiming 10,500 mark backed by HDFC twins and ITC. Inflation based on wholesale prices eased marginally to 2.47 per cent in March on cheaper food articles, especially pulses and vegetables. The S&P BSE Mid-Cap index rose 81.19 points or 0.49 per cent to settle at 16,677.76.

UCO Bank plunged 6.3 percent after the CBI booked its former chairman in connection with an alleged Rs 621-crore loan fraud.

Wholesale inflation was 2.48 per cent in February and 5.11 per cent in March a year ago.

On Friday, both the indices ended in the green due to healthy macro-economic data, along with robust buying in metals, IT and healthcare stocks.

Top gainers included Cipla, Grasim UPL, Hero Motocorp, Ktak Mahindra, Adani Ports, M&M, Bajaj Auto and Lupin while Tata Motors, Tata Motors (D), Infosys, Wipro, ONGC, Idea Cellular and SBI were some of the stocks that declined.

In the broader market, the BSE Midcap was little changed, while the BSE Smallcap gained 0.4 per cent. Market breadth, indicating the overall health of the market, turned negative.

On the other hand, Tata Motors (4.96%), Infosys (3.10%), State Bank Of India (0.76%), Oil & Natural Gas Corporation (0.55%), Tata Steel (0.49%) and ICICI Bank (0.28%) were the major losers in the Sensex.

The rupee fell 20 paise to 65.40 against the U.S. dollar in early trade on global trade war concerns, dip in India's exports in March and a sharp drop in domestic equities. The historical evidence suggests geopolitical risk as an excellent opportunity "to buy the fear" as near term weakness see long term gains.

Share

Advertisement

Related Posts

Nokia X set to make a comeback on April 27
Now, it has come to light that HMD Global Oy, the sole licensee of Nokia brand is bringing the nostalgia-inducing Nokia X back. So you can expect stock Android Oreo with a guarantee of timely security updates for at least two years.

Cold Front Brings Rain & Wind for Today
Thankfully the heavy rain has exited but now an upper level trough is bringing clouds, windy conditions, and falling temperatures. I'm still expecting lots of low clouds in the morning but these clouds should finally give way to sunshine in the afternoon.

5, including Swami Aseemanand, acquitted in 2007 Mecca Masjid blast case
In March 2017, a Rajasthan court had sentenced Gupta and another convict to life imprisonment in the Ajmer dargah blast case. Dange and RSS activist and electrician Ramchandra Kalsangra, also from Madhya Pradesh, have been eluding the investigators.

Seven inmates killed in SC prison violence
They say the incident began around 7:15 pm Sunday and involved multiple inmate-on-inmate altercations in three housing units. Four inmates were killed by a pair of prisoners in the state's Kirkland Correctional Institution previous year .

Manchester City Clinch 3rd EPL Title in 7 Years
Ronaldo puts the hosts ahead 20 minutes in, before De Bruyne lobs Edwin van der Sar from forty yards before half-time. Now on 87, they need just nine more points to break Chelsea's Premier League record set during the 2004-05 campaign.

Trump 'morally unfit' to be President, says fired Federal Bureau of Investigation boss James Comey
Former FBI Director James Comey says he thinks it's possible that President Donald Trump might be compromised by the Russians. Comey's explosive book, which is apparently highly critical of Trump, will hit the bookshelves next week.

Woolworths supermarkets hit by IT outage
Supermarket giant Woolworths has suffered an IT outage this afternoon which affected registers at its stores nationwide. Woolworths stores across the country have had to shut down registers and are unable to make sales.

Deflating food prices softens India's WPI inflation
It revised downwards forecast for retail inflation to 4.7-5.1 per cent for April-September and 4.4 per cent for October-March. On the basis of Wholesale Price Index (WPI), inflation was 2.48 per cent in February and 5.11 per cent in March past year .

'Walking Dead' finale: Jeffrey Dean Morgan promises 'pain is coming' for Negan
The Big Bad thought he had Team Rick backed into a corner, after he "ambushed [Rick's] ambush with an even bigger ambush". She was committed to bringing about peace for the time being, but she also wanted to build up the community's defenses.

IMD predicts normal monsoon, forecasts 97 per cent rainfall
Forecast suggests maximum probability for normal rainfall and a low probability for deficient rainfall during the season. Normal rains in last two years helped a rebound in farm growth rate to 6.8% in 2016-17 and an estimated 3% in 2017-18.

© 2015 ExpressNewsline. All Rights reserved.