Sensex slips nearly 300 points as North Korea’s nuclear test hurt market sentiments

By: | Updated: September 4, 2017 12:20 PM

Sensex and Nifty extended morning losses in the mid-morning trade on Monday tracking a weaker trade in Asian markets after worries escalated over geopolitical tensions.

BSE Sensex fell nearly 292 points to 31,599.61 points while NSE Nifty fell 96 points to hit the day’s low of 9,877.95 points. (Image: Reuters)

Sensex and Nifty extended morning losses in the mid-morning trade on Monday tracking a weaker trade in Asian markets after worries escalated over geopolitical tensions. North Korea on Sunday conducted its sixth and most powerful nuclear test which was weighing on the Asian equities since morning. BSE Sensex fell nearly 292 points to 31,599.61 points while NSE Nifty fell 96 points to hit the day’s low of 9,877.95 points.

The heavy sell-off in the shares of heavyweight companies such as HDFC, HDFC Bank, Infosys, Kotak Mahindra Bank, Larsen & Toubro, Hindustan Unilever, Adani Ports, and Tata Motors contributed the most to the decline of benchmark Sensex. Collectively these 8 stocks erased off over 145 points in the index while shares of Reliance Industries, Coal India, and State Bank of India helped the index to trim losses.

Shares of Adani Ports (down 3.23%), Hero MotoCorp (down 1.95%), Asian Paints (down 1.79%), Bharti Airtel (down 1.59%), Tata Motors (down 1.45%), and Dr Reddy’s Laboratories (down 1.45%) were the top loser on the benchmark Sensex today. All of the sectoral indices of NSE are trading lower with losses up to 1.81%. The 30-share barometer Sensex was trading 0.89% lower at 31,608.25 points while the broader Nifty 50 was down 0.96% at 9878.3 points.

Most of the Southeast Asian stock markets fell on Monday following North Korea’s latest nuclear test which prompted caution across Asian equities. Meanwhile, China stocks held steady, with investors seemingly unaffected by North Korea’s latest nuclear test, although Hong Kong shares followed regional markets lower amid heightened geopolitical tensions.

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