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

Pro-Assad official: Targeted bases were evacuated on Russian warning
Russian Federation has countered that the US-led action was aimed at overthrowing Assad and keeping Moscow's influence in check. Western powers are thought to be preparing for strikes but Russian Federation, a Syrian ally, opposes such action.

Locals extend help to Rohingya refugees after fire destroys Delhi's only camp
Most of the houses were built of plywoods, card-boards and plastic, which are highly combustible and hence the fire spread wild. About 230 people were staying in the camp. "It took nearly four hours to douse the fire in the camp where the families reside".

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 .

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.

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.

'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.

Air strikes on Syria will not change course of war - Johnson
Lithuania's foreign minister, Linas Antanas Linkevicius, said today: "Not everyone is capable to take part in the air strikes, but it's important to support [them]". ".

Sony Xperia XZ2 Premium vs Xperia XZ2: What's the difference?
While it sports the same design as the Xperia XZ2 , the smartphone brings upgrades in the display , camera and battery . The company has not talked about pricing but confirmed that the phone will be available globally from Summer 2018.

Andhra Pradesh strike: Buses stopped, schools and shops remain closed
He added that Naidu should understand that bandh was a form of a democratic protest and he had no right to oppose it. However, the ruling TDP led by N Chandrababu Naidu has opposed it.

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.

© 2015 ExpressNewsline. All Rights reserved.