Sensex drops 294 points, Nifty below 9,900
The benchmark BSE Sensex dropped
further by 294 points while the Nifty fell below the 9,900
level due to a flurry of selling triggered by escalated
geopolitical tensions following North Korea's testing of
Heavy capital outflows by foreign investors dampened the
trading sentiments, brokers said.
The Sensex dropped by 293.68 points, or 0.92 per cent at
31,598.55 at 1215 hours as losses in Adani Ports, Infosys, L&T
and HDFC Bank widened.
The NSE 50-share Nifty also dropped by 101.45 points, or
1.01 per cent, to fall below 9,900-level at 9,872.95.
Adani Ports fell 3.12 per cent, Infosys by 2.18 per cent,
Tata Motors by 1.95 per cent, Hero MotoCorp by 1.64 per cent
and Dr Reddy's by 1.55 per cent. Asian Paint dropped 1.53 per
cent, Bharti Airtel by 1.51 per cent and L&T 1.40 per cent.
Overseas, most of Asian markets suffered heavy to
moderatre losses, with Japan's Nikkei and Hong Kong's Hang
Seng declining 0.93 per cent each, while Singapore fell 0.95
Investors tuned to safe-haven investments like gold,
silver, Treasury futures and Japanese yen amid growing global
-- Rupee reverses early gains, drops to 64.18 vs USD --
The rupee pared its early gains to decline by 16 paise
against the US dollar in afternoon trade on foreign capital
The domestic currency fell to a low of 64.18 a dollar in
afternoon trade against last close of 64.02 a dollar.
The rupee had gained 7 paise in early trade and touched a
high of 63.92 per dollar.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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