Sensex tanks 376 pts on mixed Asian cues

11/11/2016 11:28

Tracking mixed cues from fellow Asian peers, Indian equity benchmarks were trading in the negative territory during the late morning deals on Friday as traders indulged in profit-booking after yesterday’s gains.

At 11:06 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 27,140.83, down by 376.85 points or 1.37 per cent while the NSE Nifty was at 8,393.15, down by 132.6 points or 1.56 per cent.

Also, investors remained cautious ahead of the September IIP numbers to be released today which may offer fresh cues over the health of Asia’s third biggest economy.

Markets witnessed selling pressure mainly in the consumer durables and realty sector stocks.

Major show spoilers were Asian Paints Ltd. (Rs. 977.00,-3.70%), Hero MotoCorp Ltd. (Rs. 3032.10,-3.58%), GAIL (India) Ltd. (Rs. 433.60,-3.49%), ICICI Bank Ltd. (Rs. 283.15,-3.21%), Housing Development Finance Corporation Ltd. (Rs. 1289.50,-3.19%), among others.

The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 701.00,+5.11%), State Bank of India (Rs. 282.35,+0.27%), HDFC Bank Ltd. (Rs. 1278.70,+0.20%), among others.

The market breadth, indicating the overall strength of the market, was weak. On BSE, out of the total 2,358 shares traded, 425 advanced while 1,834 shares declined and 99 remained unchanged.

On the global front, Asian markets were mixed as traders awaited clarity on the economic policies of the Trump-led US administration amid speculation that the Dodd-Frank Act financial-sector law may be replaced with pro-growth policies, while increased US expenditure may expand the US budget gap and stoke inflation.

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