The benchmark BSE Sensex was down by

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

158.15 points to quote 31,651.40in late morning session on

selling pressure in key frontline shares of realty, healthCare

and FMCG sectors reflecting the subdued global peers.

Worries about North Korea which is expected to conduct

another nuclear test on its foundation day on Saturday weighed

on global markets.

The 30-share Sensex opened lower at 31,713.50 and slid to

a low of 31,586.53 on intense selling. The BSE barometer

managed to recover some of losses on gains in Reliance

Industries, Kotak Bank and Hindustan Unilever to trade at

31,651.40, still down by 158.15 points or 0.50 per cent.

The 50-share Nifty dropped below 9,900 level in early

trade on losses in Sun Pharma, ITC and Lupin. The Nifty

recovered some of the losses to regain the 9,900 level and was

quoted at 9,916.10, down by 36.10 points, or 0.36 per cent at

1130 hrs.

SunPharma fell by 2.94 per cent, ITC by 2.02 per cent,

Lupin by 1.95 per cent and TataMtr Dvr by 1.85 per cent.

Foreign portfolio investors (FPIs) sold shares worth Rs

846.53 crore on net basis yesterday, showed provisional data.

While, domestic institutional investors (DIIs) bought shares

worth Rs 474.36 crore.

Asian markets were trading lower as nations grapple with

how to deal with escalating provocations from North Korea.

US stocks closed firmly lower yesterday as investors

focused on heightened tensions between the West and North

Korea and worries about a lack of progress on President Donald

Trump's pro-growth agenda.

-- Rupee down 8 paise against dollar --

The rupee continued its volatility quoting down by 8

paise to 64.20 per dollar in late morning deals on sustained

bouts of dollar demand from importers and banks amid lower

domestic equities coupled with foreign fund outflows.

The rupee resumed lower at 64.18 per dollar at the

interbank foreign exchange (Forex) against yesterday's closing

level of Rs 64.12 per dollar.

The domestic unit hovered between 64.26 and 64.13 during

morning deals. It was quoting at 64.20 at 1145 hrs.

Sustained capital outflows pressuring the rupee, despite

a weak dollar overseas, a dealer said

Globally, the US dollar was lower against its major

rivals in early Asian trade, falling against the yen to get

closer to a recent 4-1/2 month low.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)