Sensex slips 100 points, Nifty trips below 10,300; HDFC, ITC major losers, Rupee hold gains

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Published: November 9, 2017 1:17:21 PM

Indian stock market fell in losses in the mid-morning trade on Thursday as investors turned cautious ahead of the outcome of GST Council meeting starting today in Guwahati.

Bombay Stock Exchange building. (Image: Reuters)

Indian stock market fell in losses in the mid-morning trade on Thursday as investors turned cautious ahead of the outcome of GST Council meeting starting today in Guwahati. BSE Sensex lost as much as 107.27 points to hit the day’s low of 33,111.54 points while NSE Nifty washed off 36.2 points to mark the day’s low at 10,266.95 points. The rupee was trading nearly up 8 paise or 0.12% at 64.88 against the US dollar in the afternoon trade at the interbank foreign exchange market.

The sell-off in the shares of heavyweight shares of HDFC and ITC in order to book profits led the indices into losses. Shares of ONGC, Coal India, ITC, HDFC, Axis Bank, Sun Pharma lost up to 2.5% and were the major laggards on Sensex while ICICI Bank, Asian Paints, RIL, NTPC, HUL, Tata Steel, and Bharti Airtel gained up to 2.3%.

Among the regional markets, Japan’s benchmark Nikkei 225 index surged as much as 2% to its highest in 26 years before giving up gains and falling 0.3% to 22,847.17. South Korea’s Kospi lost 0.5% to 2,540.8. Hong Kong’s Hang Seng added 0.6% to 29,073.81 and the Shanghai Composite in mainland China was edged up 0.1% to 3,418.53. Australia’s S&P/ASX 200 climbed 0.6% to 6,049.4, Associated Press reported. Asian shares were mixed Thursday as Japan’s stock benchmark failed to sustain a strong rally and investors monitored President Donald Trump’s visit to Beijing, AP said in a report.

Wall Street closed at a record high on Wednesday as Apple’s market capitalization climbed above the $900 billion mark and video game makers rallied, Reuters reported. The Dow Jones Industrial Average rose 6.13 points or 0.03% to 23,563.36, the S&P 500 gained 3.73 points or 0.14% to 2,594.37 and the Nasdaq Composite added 21.34 points or 0.32% to 6,789.12.

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