Gold Silver Reports — The BSE Sensex slumped and the NSE Nifty slipped below the 9,800 mark in early trade on Friday following global sell-off triggered by mounting geo-political tensions between the US and North Korea. Besides, caution ahead of Index of Industrial Production (IIP) data for June due later in the day, too, weighed on the sentiments.
Sensex had tumbled 794.08 points in the previous four sessions hit by sliding global sharers due to stand-off between the US and North Korea, and market regulator Securities and Exchange Board of India’s (Sebi) directive imposing trading restrictions on suspected 331 shell companies. All sectoral indices led by infrastructure, capital goods, realty, auto, metal and healthcare were in the red.
Also, the NSE Nifty was trading lower by 115.90 points, or 1.18%, at 9,704.35. Brokers said that apart from continuous selling by investors and sustained foreign fund outflows, deep losses at other bourses and the US markets as investors reacted with dismay to escalating North Korea tensions led to a further slide in the Sensex. In addition, weakness in the rupee against the American currency too weighed on the sentiment.
Major losers that dragged down the key indices were Tata Motors, L&T, Sun Pharma, Cipla, ONGC, Dr Reddy’s, Asian Paint, Hero MotoCorp, ICICI Bank, Tata Steel, Coal India and Maruti Suzuki, declining up to 2.87%. Hong Kong’s Hang Seng fell 1.59%, while Shanghai Composite Index plunged 1.30% in early trade today.The US Dow Jones Industrial Average (DJIA) tumbled 0.93% in Thursday’s trade. — Neal Bhai Reports