Sensex ends nearly 200 points lower, Nifty manages above 9,900; North Korean worries weigh

By: | Updated: September 4, 2017 3:49 PM

Sensex and Nifty ended lower on Monday after falling over 1% each in the early afternoon trade. The pessimism amid the market participants slowed the activity which triggered after North Korea conducted its sixth and most powerful nuclear test on Sunday.

The benchmark Sensex closed down 0.6% at 31,702.05 points while the broader Nifty 50 settled 0.62% lower at 9,912.85 points. (Image: PTI)

Sensex and Nifty ended lower on Monday after falling over 1% each in the early afternoon trade. The pessimism amid the market participants slowed the activity which triggered after North Korea conducted its sixth and most powerful nuclear test on Sunday. BSE Sensex lost 189 points to close at 31,702.05 points while NSE Nifty fell 62 points to end at 9,912.85 points. Most of the Asian stock markets fell on Monday following North Korea’s latest nuclear test which raised fears about risks to regional stability and prompted caution across Asian equities.

The heavy sell-off in the shares of heavyweight companies such as HDFC, HDFC Bank, Infosys, Kotak Mahindra Bank, Larsen & Toubro, Hindustan Unilever, ITC, Tata Motors, Mahindra & Mahindra, and Bharti Airtel contributed the most to the decline of benchmark Sensex. Collectively these 10 stocks erased off over 188 points in the index while shares of Reliance Industries, Coal India, and Sun Pharma helped the index to trim losses.

Shares of Adani Ports (down 2.61%), Infosys (down 2.03%), Hindustan Unilever (down 1.94%), Bharti Airtel (down 2.21%), Mahindra & Mahindra (down 1.91%), and Dr Reddy’s Laboratories (down 1.96%) were the top losers on the benchmark Sensex today. The benchmark Sensex closed down 0.6% at 31,702.05 points while the broader Nifty 50 settled 0.62% lower at 9,912.85 points.

Shares of the state-run coal mining company Coal India Ltd (CIL) advanced more than 3.21% to Rs 246 on Monday after the PSU said that India is not facing any scarcity of coal and the output of Coal India is more than the country’s power demand. Coal India – largest producer of coal in the world had registered a high growth rate of 28% output in FY17 over the last fiscal, while the average rise in power demand in the country was at 10.3%, said Chairman and Managing Director Gopal Singh. Other gainers on Sensex were Sun Pharma (up 2.84%), ONGC (up 1.06%), Reliance Industries (up 0.12%), Lupin (up 0.23%), Wipro (up 0.19%).

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