Sensex and Nifty pared off partial losses in the late afternoon session after falling in the early morning trade following the escalated worries over North Korea.
Sensex and Nifty recovered in the late afternoon session after falling in the early morning trade following the escalated worries over North Korea. The key benchmark indices are trading flat with the benchmark Sensex and the broader Nifty hovering around 31,628 and 9,874 points respectively. The 30-share barometer Sensex was trading up 0.12% at 31,663.62 points while the 50-share indicator Nifty 50 trading 0.17% higher at 9,889 points.
ONGC shares were the biggest gainer on both the benchmark indices, advanced 4.43% to the day’s high of Rs 171.75 on BSE. Other gainers include Axis Bank (up 2.83%), Tata Steel (up 2.34%), Lupin (up 1.94%), Coal India (up 1.46%), Sun Pharma (up 1.38%). While the shares of Hindustan Unilever (down 2.5%), Asian Paints (down 1.5%), Bharti Airtel (down 1.4%), Mahindra & Mahindra (down 1%), and TCS (down 0.8%) were the top losers on the BSE Sensex.
The stocks of Axis Bank, ONGC, ICICI Bank, and Tata Steel contributed the most to the Sensex upsurge. Collectively these four shares added about 70 points to the index gains whereas shares of Hindustan Unilever, HDFC Bank, HDFC, and TCS capped the gains by washing off around 70 points. Index heavyweights HDFC Bank and Housing Development Finance Corporation were down for a sixth and third straight session respectively. Oil refiner Bharat Petroleum Corporation fell 4.2% and consumer goods company Hindustan Unilever Ltd declined 3.2%, putting them among the top percentage losers on the Nifty 50 index.
Sensex and Nifty opened slightly higher on Tuesday but swung into losses in the late morning trade. BSE Sensex lost as much as 171 points to hit a day’s low of 31,455.65 points and NSE Nifty 50 shed 60 points to mark a day’s low of 9,813 points. North Korea’s foreign minister said on Monday that a weekend tweet by President Donald Trump counted as a declaration of war on North Korea and that Pyongyang reserved the right to take countermeasures, including shooting down US bombers even if they are not in its airspace, Reuters reported.
Indian stock markets plunged heavily on Friday on a possibility that North Korea may conduct another hydrogen bomb test, this time in the Pacific Ocean. The benchmark Sensex shed 484 points to mark the day’s low of 31,886.09 points which is its biggest fall since 15 November 2016 — demonetisation period. The broader Nifty 50 index also fell, lost as much as 169 points to fell below 10,000 mark to 9,952.8 points.