Sensex sheds 362 points; rupee weakens to 64.02 free language translator app


An escalation in tensions following firing of a missile by North Korea over Japan had investors on knife-edge yesterday as both the Sensex and the Nifty took a sharp fall, in line with a general weakness across the globe chf usd bloomberg. For the Nifty, the fall was the most in over nine months while for the Sensex, this was the worst single-day performance over a month.

The Sensex hurtled straight down to 31,388.39 points, a one-week low, plunging over 362 points and the NSE Nifty cracked below the 9,800 mark, registering their first loss after a four-day winning streak usd to aed exchange rate history. The Korean peninsula was on the boil after North Korea fired the ballistic missile that flew over Japan before plunging into the Pacific Ocean, officials said yesterday, in a clear message of defiance as Washington and Seoul conduct war games nearby.

This rankled investors worldwide, with Asian stocks hitting a soft patch binary tree. The negativity affected Indian markets, already cautious ahead of the August derivatives expiry on Thursday binary cheat sheet. European shares opened in the red too 1 usd to myr. At the close, the 30-share BSE index was down by 362.43 points, 1.14% at 31,388.39, its lowest closing since August 22 when it came in at 31,291.85 points dollar euro exchange rate forecast. During the day, it shuttled between 31,360.81 points and 31,739.80 points.

This is the biggest single day fall since July 18 when it had lost 363.79 points exchange rate usd myr. The gauge had gained 491.97 points in the previous four sessions gender roles articles. The risk appetite was hit so badly that the wider NSE Nifty settled lower by 116.75 points – 1.18% – its biggest single-day fall in over 9 months at 9,796.05 cny usd exchange rate. Investors also moved in to lock profit after the recent rally in the stocks.

“Concerns of heavy floods in the financial capital and the heavy selling by FIIs in equities over the past one month ensured risk appetite was down to a trickle, especially as Asian markets were in a sea of red following North Korea threats,” said Anand James, chief market strategist, Geojit Financial Services. NTPC emerged as the biggest loser plunging 2.80% to Rs168.50 after the government said it would sell 5% stake in the country’s largest power producer at Rs168 to raise about Rs7,000 crore. Others that lost were Sun Pharma, Reliance Industries, ONGC, HDFC, Coal India and Bharti Airtel, losing by up to 2.35%.

Shares of ACC, Bank of Baroda, Tata Power and Tata Motors DVR too were under pressure and fell by up to 2.78% as these companies will move out of the NSE’s benchmark Nifty 50 index from 29 September. HPCL and UPL rose up to 0.71% after the NSE decided to include them in the Nifty 50.

Foreign portfolio investors (FPIs) net sold shares worth Rs124.74 crore yesterday while domestic institutional investors (DIIs) remained net buyers for the 15th straight day, making purchases worth of Rs476.26 crore, showed provisional data. In keeping with the overall trend, the small-cap and mid indices shed up to 1.05%.

Meanwhile the rupee yesterday weakened against the US dollar tracking losses in the global markets after North Korea fired a ballistic missile over Japan.

The rupee closed at 64.02 a dollar, down 0.16% from its Monday’s close of 63.91. The rupee opened at 63.94 a dollar and touched a high and a low of 63.93 and 64.04 respectively.

The missile landed about 1,200 kilometres (745 miles) off Hokkaido in the Pacific Ocean, Bloomberg reported quoting Chief Cabinet Secretary Yoshihide Suga, adding there were no reports of damage.

Traders are also cautious ahead of the gross domestic product data for June quarter on August 31. According to Bloomberg poll, GDP will be at 6.5% for the second quarter against 6.1% a quarter ago.

The 10-year bond yield closed at 6.533% compared to its previous close of 6.568% 2000 usd to inr. Bond yields and prices move in opposite directions. So far this year, the rupee gained 6.27%, while foreign institutional investors (FIIs) bought $7.03bn and $19.58bn in equity and debt markets, respectively.

Asian currencies were trading mixed. South Korean won was down 0.53%, Philippines peso 0.23%, Taiwan dollar 0.14%, Singapore dollar 0.11%. However, Japanese yen was up 0.44%, China Offshore 0.14%, China Renminbi 0.1%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 91.771, down 0.47% from its previous close of 92.207.

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