Tuesday, 24 October, 2017

Sensex declines over 195 points after opening higher, Nifty falls below 10000

The BSE Sensex opened higher on Monday The BSE Sensex opened higher on Monday
Juana Turner | 09 August, 2017, 00:16

Nifty closed at 10,057 level, down by 9 points, while Sensex closed at 32,273 level, down by 51 points on Monday. Japan's Nikkei declined 59.88 points to close at 19,996.01 points, and Taiwan's TSEC 50 index also lost 10.41 points.

The Tata Steel stock was trading 3.4 percent higher at Rs 620 on the Bombay Stock Exchange (BSE) at around 10.40 am while Hindalco and Vedanta were up 3.82 percent (at Rs 236) and 3.56 percent (at Rs 298), respectively, on the National Stock Exchange (NSE). But, soon the bourses slipped into the red with Sensex losing as much as 358.47 points to hit the day-low of 31,915.20 in intra-day trade.

"Markets ended sharply lower on Tuesday as selling intensified".

On 30-share benchmark, among top gainers were Tata Steel (2.71%), ICICI Bank (1.05%), Coal India (1.04%), Lupin (0.91%) and Adani Ports (0.88%). Analysts attributed the plunge in Indian shares to the market regulator asking stock exchanges to take action against 331 suspected shell companies.

On the currency front, the rupee strengthened by 17 paise to close at 63.63 to a USA dollar from its previous close at 63.80. "Except for metal stocks, all other sectoral indices witnessed sell-off", Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

Asian shares went flat on Tuesday as disappointing Chinese trade data clouded the otherwise upbeat outlook on global growth.

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