Sensex tanks 297 points as November F&O series opens weak, Nifty slips below 10,100-mark in early trade

Brokers said despite the beginning of the November futures and options (F&O) series, investors indulged in selling activity, tracking a weak trend at other Asian markets.

Press Trust of India October 26, 2018 10:13:54 IST
Sensex tanks 297 points as November F&O series opens weak, Nifty slips below 10,100-mark in early trade

Mumbai: The benchmark Sensex plunged over 297 points and the broader NSE Nifty slipped below the 10,100-mark in early trade Friday as the November derivatives series took off on a weak note amid negative Asian cues.

The 30-share Sensex, which lost 344 points Thursday, fell further by 297.40 points, or 0.88 percent, to 33,392.69.

All sectoral indices of BSE, led by metal, power, realty and bankex were trading in the negative territory, falling by up to 1.63 percent.

The NSE Nifty too declined by 101.45 points, or 1 percent, to 10,023.45.

Brokers said despite the beginning of the November futures and options (F&O) series, investors indulged in selling activity, tracking a weak trend at other Asian markets.

Besides, disappointing quarterly earnings by Maruti Suzuki and a few other companies also dampened sentiments.

Sensex tanks 297 points as November FO series opens weak Nifty slips below 10100mark in early trade

Representational image. Reuters.

Meanwhile, on a net basis, foreign funds sold shares worth Rs 1,495.71 crore, while domestic institutional investors bought shares to the tune of Rs 339.60 crore Thursday, provisional data showed.

In the Sensex pack besides, Tata Steel, Tata Motors, Adani Ports, Reliance, the rest of the companies were trading in the negative territory.

Major losers were Yes Bank, NTPC, Asian Paints, Vedanta Ltd, Bharti Airtel, TCS, Coal India, Infosys, Maruti Suzuki, Kotak Bank, ITC Ltd, M&M, HUL, ICICI Bank, PowerGrid, Wipro, ONGC, HDFC Ltd, HDFC Bank, Sun Pharma, Bajaj Auto, L&T, SBI, IndusInd Bank and Axis Bank, falling up to 6 percent.

However, Tata Motors and Adani Ports emerged gainers in the Sensex kitty, rising up to 1.81 percent.

Notwithstanding a positive lead from Wall Street after the sold corporate earnings, a weak trend in Asian markets led by Japan accelerated selling activity at the domestic bourses here, market analysts added.

In the Asian region, Japan's Nikkei fell 1.39 percent, Shanghai Composite Index fell 0.58 percent, Hong Kong's Hang Seng dropped 1.46 percent. Taiwan too down 1.14 percent in their early sessions.

The US Dow Jones Industrial Average ended 1.63 percent higher Thursday.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Army says its troops 'exceeded' powers under AFSPA during Shopian encounter that killed three in July
India

Army says its troops 'exceeded' powers under AFSPA during Shopian encounter that killed three in July

According to the rules, a Summary of Evidence will now be initiated against the erring Army personnel after which Court Martial proceedings will begin

Shopian encounter: DNA samples of 3 men killed by forces match with families from Rajouri, says J&K Police
India

Shopian encounter: DNA samples of 3 men killed by forces match with families from Rajouri, says J&K Police

The police had initiated an inquiry after social media reports indicated that the three men were labourers from Rajouri and had gone missing in Amshipura in Jammu and Kashmir

Nokia 2.4, Nokia 3.4, Nokia Power Earbuds Lite, Nokia Wireless speakers announced
News & Analysis

Nokia 2.4, Nokia 3.4, Nokia Power Earbuds Lite, Nokia Wireless speakers announced

Nokia also announced the global sales of Nokia 8.3 5G at the event. The smartphone was unveiled in March this year.