BSE Sensex tanks 389 points, markets spooked by escalation in Middle East tensions
BSE Sensex is trading at 72,099 points, down 389 points on Friday as domestic equities continued their losing spree amid escalation in Middle East tensions.
Extending Tuesday’s gains amid positive global cues, domestic bourses were trading in the positive zone in the first half of trade on Wednesday with banking stocks leading the rally. Hopes of Goods and Services Tax (GST) implementation on time also boosted the sentiments.
The GST Bill will be discussed in the Lok Sabha later during the day. Union government wants to implement the Bill from July 1, 2017.
At 11.25 am, the Sensex was trading 97 points or 0.33 per cent higher at 29,505 while the Nifty50 was trading 28 points or 0.30 per cent lower at 9,128.
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In the broader markets, BSE Midcap index gained 0.3 per cent while BSE Smallcap Midcap index surged 0.5 per cent.
Among the BSE sectoral indices, Telecom index registered the biggest gain with a jump of 1.2 per cent. Capital Goods (up 0.9 per cent), Bankex (up 0.6 per cent), Power (down 0.5 per cent) and Consumer Durables (down 0.4 per cent) indices were other notable gainers. Oil & Gas index slipped 0.1 per cent.
Top gainers in the Sensex-30 pack: SBI (up 2 per cent), Asian Paints (up 1.6 per cent), ICICI Bank (up 1.5 per cent), L&T (up 1.3 per cent) and Axis Bank (up 1 per cent).
Top losers in the Sensex-30 pack: Gail (down 0.6 per cent), M&M (down 0.4 per cent), Adani Ports (down 0.4 per cent), Sun Pharma (down 0.3 per cent) and Wipro (down 0.2 per cent).
In the Asian markets, Japan’s Nikkei 225 Index slipped 0.1 per cent, Singapore’s Straits Times Index jumped 0.7 per cent, Hong Kong’s Hang Seng index increased 0.1 per cent, Korea’s KOSPI index rose 0.2 per cent and China’s Shanghai Composite Index declined 0.2 per cent.
Back home, the Rupee was trading 11 paise higher at 64.95 against the US Dollar.
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