Sensex and Nifty opened lower on Friday as most of the Asian stocks fell in the early trade on the possibility of North Korea conducting another hydrogen bomb test, this time in the Pacific Ocean.
Sensex and Nifty opened lower on Friday as most of the Asian stocks fell in the early trade on the possibility of North Korea conducting another hydrogen bomb test, this time in the Pacific Ocean. BSE Sensex lost 31 points to open at 32,339.5 points and NSE Nifty washed off 28 points to open at 10,094.35 points, within minutes of trading both the key equity indices fell drastically. The benchmark Sensex fell as much as 274 points to hit the day’s low of 32,096.02 while the broader Nifty 50 shed 97 points to mark the day’s low of 10,025.2 points.
Shares of ICICI Bank (down 1.89%), Tata Steel (down 1.86%), Axis Bank (down 1.54%), Bajaj Auto (down 1.68%), Coal India (down 1.56%), and State Bank of India (down 1.49%) were the major losers on BSE Sensex. The stocks of heavyweight companies such as ICICI Bank, Reliance Industries, L&T, HDFC, SBI, ITC, Infosys, Axis Bank, HDFC Bank, Kotak Mahindra Bank, and TCS contributed the most to the Sensex decline. Collectively these 12 alone washed off about 195 points out of the 242 point drop in the index. The 30-share barometer was trading down 241.5 points or 0.75% at 32,128.54 points. Meanwhile, the stock of Yes Bank was the biggest loser on Nifty 50, fell 2.85% to Rs 366.3 on NSE.
Shares of New Delhi Television Ltd advanced 5% on Thursday on the news that Ajay Singh, co-founder and owner of SpiceJet has picked up majority holding in the news channel. With its founders Prannoy Roy, Radhika Roy and promoter firm RRPR Holding Pvt Ltd facing a CBI probe for allegedly concealing a share transaction, NDTV is set to change hands, it is learnt. Ajay Singh, co-founder and owner of SpiceJet who was part of the BJP’s 2014 poll campaign, has picked up majority holding in the news channel, The Indian Express reported citing unidentified sources. The stock of NDTV Ltd rose as much as 4.94% to the day’s high of Rs 53.1 on BSE.
US stock indexes slipped on Thursday as investors braced for a third interest rate hike this year and the United States ordered new sanctions against North Korea. The S&P and the Dow snapped a run of record closing highs and Apple was the biggest drag on the three major indexes with a 1.7% drop on worries about demand for its latest smartphone. The Dow Jones Industrial Average fell 53.36 points, or 0.24%, to 22,359.23 points, the S&P 500 lost 7.64 points, or 0.30%, to 2,500.6 points and the Nasdaq Composite dropped 33.35 points, or 0.52%, to 6,422.69 points.