Stock Market: Sensex and Nifty loses over 400 and 100 points respectively

The domestic stock market on Friday began its business on a negative note. The Sensex traded at 34,367.73, down 411.85 points or 1.18 percent. The broader Nifty traded at 10,317.05, down 136 points or 1.30 percent.

Notably, the BSE Sensex started at 34,563.29 as compared to its previous close of 34,779.58. The Nifty50 index of the National Stock Exchange (NSE) opened at 10,339.70 against its last close of 10,453.05.

The intraday low of the Sensex was 34,288.25 and that of the Nifty 10,304.60. However, the top five drags in the Nifty pack were Reliance Industries (RIL), Yes Bank, Indiabulls Housing Finance, Infosys, and UltraTech Cement.

According to a report by news agency Reuters, MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.2 percent weaker following China’s latest GDP reading. While Australian shares fell 0.3 percent and Japan’s Nikkei average was 1.1 percent lower.

In an overnight trade, US stocks fell more than 1 percent as the European Commission issued a warning regarding Italy’s budget and concerns mounted over the possibility of strained relations between the United States and Saudi Arabia.

On the other hand, in the commodities market, US West Texas Intermediate crude for October delivery was up 27 cents, or 0.4 percent, at $68.92 a barrel by 0124 GMT or 6:54 am IST.

On Wednesday, provisional NSE data showed that foreign portfolio investors bought while domestic institutional investors sold net equities worth Rs. 140.02 crore and Rs. 343.11 crore respectively.

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