Sensex falls 243 points, Nifty near 10050

Javier Stokes
September 24, 2017

The 30-share index settled lower by 447.60 points, or 1.38 percent - its biggest single-day fall since November 15 a year ago - at 31,922.44.

Market observers pointed out that investors' sentiments were hampered by a likely US rate-hike in December which was signalled by the US Federal Reserve on Wednesday night.

Finance Minister Arun Jaitley on Thursday had promised "appropriate actions" at the "right time" to revive the slowdown-hit economy as growth slipped to a three-year low of 5.7 per cent in the June quarter.

"The weakness came on the back of geo-political tensions as North Korea threatened that it could consider testing a nuclear weapon in the Pacific".

The weekend saw the carnage at market as indices tanked on hectic profit-booking witnessing steepest percentage fall since November 2016.

The Sensex gained 585.09 pts or 1.85 pct during previous week. At 9.40 a.m, the Sensex was trading down 243.40 points or 0.75% at 32,126.64 with 26 components falling.

The Nifty tested 10,000-mark as well during the day's trade.

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Foreign portfolio investors (FPIs) sold shares worth Rs 1,204.95 crore yesterday, as per provisional data released by the stock exchanges. The S&P BSE Small-Cap index fell 394.73 points or 2.37 percent to settle at 16,293.03.

BSE realty melted the most by 4.29 per cent. All sectoral indices were in red as Nifty Auto, FMCG, Metal and PSU Bank and Private Bank lost 0.4-1 percent.

Among the 31-share Sensex pack, 22 stocks fell and remaining 9 stocks rose during the week.

Major Sensex losers were: Tata Steel, down 4.70 per cent at Rs 654.55; Larsen and Toubro, down 3.49 per cent at Rs 1,184.90; Reliance Industries, down 2.83 per cent at Rs 817.50; ICICI Bank, down 2.77 per cent at Rs 277.10; and Hero MotoCorp, down 2.59 per cent at Rs 3,788.15.

On the 30-stock Sensex, Tata Motors (1.44 percent), Cipla (0.94 percent) and Sun Pharma (0.66 percent) were the top gainers.

The total turnover during the week at BSE and NSE rose to Rs 25,207.37 crore and Rs 1,47,214.93 crore, respectively, as against last weekend's level of Rs 18,901.77 crore and Rs 1,45,714.27 crore.

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