Sensex plunges over 100 points in early trade; NTPC drops 4% after OFS
At 0916 hours, BSE Sensex was trading at 31,652.46, down 98.36 points or 0.31%, while NSE Nifty was trading at 9,886.40, down 26.40 points or 0.27%.
Domestic markets on Tuesday opened in red amid global tensions. At 0916 hours, BSE Sensex was trading at 31,652.46, down 98.36 points or 0.31%, while NSE Nifty was trading at 9,886.40, down 26.40 points or 0.27%.
On 30-share benchmark, among top gainers were Lupin (0.35%), Wipro (0.14%), Tata Consultancy Services (0.13%) and Power Grid (0.05%). Among top losers were NTPC (-3.23%), Tata Motors (-1.62%), Hindustan Unilever (-0.91%), Sun Pharm (-0.85%) and Bharti Airtel (-0.72%).
Shares of NTPC will be in focus as the government will sell 5% of its sale through a stock market auction. The deal is expected to raise up to Rs 13,897 crore.
Motilal Oswal in its daily market outlook report said, "North Korea action will likely play spoil sport in early trades at least as most markets are reacting negatively to the missile launch. Changes in index were also announced."
On the global front, according to Reuters report, U.S. stock futures and Asian share markets tumbled, while the yen jumped to four-month highs against the dollar after North Korea fired a missile over northern Japan, setting up a tense start to trading for markets in the region.
Japan`s Nikkei fell 0.7% to four-month low while South Korea`s Kospi shed 0.5%, helping to drag down MSCI`s broadest index of Asia-Pacific shares outside Japan 0.3%.