Financials News

Sensex drops 253 points, Nifty below 10,050

Sensex drops 253 points, Nifty below 10,050

Mumbai: The BSE Sensex dropped by 253.30 points in late morning deals due to across the board sell-off led by realty, bank, financials and capital goods stocks after renewed threat of North Korea conducting another hydrogen bomb test.

The broader Nifty fell below 10,050-level to trade 10,022.15.

The rupee falling to four-month lows amid FII outflows on expectation of rate hike by the US Federal Reserve loomed investors sentiment.

The Sensex resumed lower 32,339.50 and hovered in a range of 32,342.81 and 32,072.31 before quoting at 32,116.74, at 1100 hrs, down by 253.30, or 0.78 percent.

The broader Nifty fell by 99.75 points, or 0.99 percent to 10,022.15 at 1100 hrs.

Major losers were, ICICI Bank 2.11 percent, Tata Steel 2.05 percent, Infy 2.01 percent, HeroMotoco 1.90 percent, Coal India 1.81 percent and Reliance 1.59 percent.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,204.95 crore yesterday, as per provisional data released by the stock exchanges. While, domestic institutional investors (DIIs) bought shares worth a net Rs 1,416.55 crore, as per provisional data.

Overseas, Asian trading lower after North Korea’s threat that it could consider testing a nuclear weapon in the Pacific.

The US stocks declined yesterday as profit booking emerged after recent winning streak.

PTI