Sensex drops over 100 points to slip below 37,000 mark on weak cues from Asian markets; Vedanta, Yes Bank among top losers
In the previous session, the 30-share Sensex settled 267.64 points, or 0.72%, lower at 37,060.37.
Besides continued fear of a global economic slowdown, investors are also jittery ahead of the Jackson Hole Symposium
Foreign portfolio investors sold shares worth a net of Rs 770.81 crore Wednesday
Bourses in Hong Kong, Korea, Shanghai and Japan were trading on a negative note in their respective late morning sessions
Mumbai: Domestic equity benchmark BSE Sensex dropped over 100 points to fall below the 37,000 mark on Thursday tracking weak cues from other Asian markets amid concerns of a looming global economic slowdown.
The 30-share index was trading 127.32 points, or 0.34 percent, lower at 36,933.05. The broader Nifty too fell 44.80 points, or 0.17 percent, to 10,873.90 in morning trade.
#CNBCTV18Market | Market opens in the red; Sensex slips below 37,000 & Nifty 11,000
— CNBC-TV18 (@CNBCTV18Live) August 22, 2019
In the previous session, the 30-share Sensex settled 267.64 points, or 0.72 percent, lower at 37,060.37. The broader NSE Nifty too ended 98.30 points, or 0.89 percent, down at 10,918.70.
Top laggards in the Sensex pack included Vedanta, Yes Bank, Bajaj Finance, IndusInd Bank, ONGC, Tata Steel, Sun Pharma, HDFC Bank and SBI, which fell up to 3 percent.
ITC, L&T, HUL, Kotak Bank, TCS and TechM rose up to 1.37 percent.
Foreign portfolio investors sold shares worth a net of Rs 770.81 crore Wednesday, and domestic institutional investors too purchased shares worth Rs 353.97 crore, provisional data showed.
Besides continued fear of a global economic slowdown, investors are also jittery ahead of the Jackson Hole Symposium, scheduled to begin later in the day, traders said.
The rupee, meanwhile, depreciated 10 paise against its previous close to trade at 71.66 in early session.
Elsewhere in Asia, bourses in Hong Kong, Korea, Shanghai and Japan were trading on a negative note in their respective late morning sessions.
While, exchanges on Wall Street ended in the green on Wednesday.
Global oil benchmark Brent crude was trading 0.17 percent lower at 60.20 per barrel.
While Sensex rose by 533.74 points to end at 59,299.32, Nifty saw a rise of 159.20 points to end at 17,691.25.
Piramal Enterprises board approves demerger of pharma business, simplification of corporate structure
The pharmaceuticals business will get vertically demerged from Piramal Enterprises and consolidated under Piramal Pharma, the company said in a regulatory filing.
Sensex increased by 568.90 points to end at 61,305.95 while Nifty ended at 18,337.90 after gaining 176.15 points.