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Sensex falls over 200 pts, Nifty below 10,600 amid weak Asian markets

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Sensex falls over 200 pts, Nifty below 10,600 amid weak Asian markets

While the Sensex fell 284 points to 35,186 , Nifty was down 83 points to 10,578. Of 30 Sensex stocks, 26 were trading in the red.

The Sensex and Nifty opened lower today amid weak Asian markets unnerved by US political developments including a US federal government shutdown and President Donald Trump's hostile stance towards the Federal Reserve chairman.

While the Sensex fell 284 points to 35,186 , Nifty was down 83 points to 10,578.

Of 30 Sensex stocks, 26 were trading in the red.

Top Sensex losers were YES Bank (2.83%), Kotak Bank (1.64%), Sun Pharma (1.65%) and HUL (1.58%).

Asian Paints (0.33 %), Coal India (0.24%) and HDFC (0.06%) were the top Sensex gainers.

All BSE sectors were trading in the red. Top sectoral losers were banking stocks with the BSE bankex falling 356 pts and BSE auto losing 281 pts.

BSE consumer durables index also lost 230 points. Meanwhile, the mid cap and small cap indices were trading 1.66% and 1.54% lower in early trade.

Market breadth was negative with 321 stocks trading higher compared to 1284 falling on the BSE.

On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 134.14 crore on Monday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 186.14 crore, provisional data available with BSE showed.

Stocks of aviation and oil marketing companies rose as crude prices fell to $50 per barrel. SpiceJet and Jet Airways rose up to 2 per cent, while IOC and BPCL gained up to 1 per cent.

Global markets

Asian markets were mostly lower on Wednesday after President Donald Trump said that there was "nothing new" in efforts to end the partial government shutdown over a US-Mexico border wall.

South Korea's Kospi gave up 1.6 percent to 2,022.36 and the Shanghai Composite index shed 0.1 percent to 2,503.05. Japan's Nikkei 225 index, which plunged 5 percent on Tuesday, picked up 0.5 percent to 19,241.87. Shares rose in Taiwan but fell in Singapore, Indonesia and the Philippines. Markets in Hong Kong and Australia were closed.

Wall Street was closed on account of Christmas yesterday. US stocks are headed for their worst December since the Great Depression in 1931.

Brent crude oil prices were trading at $50.30 per barrel amid fears of an economic slowdown which rattled global markets

Edited by Aseem Thapliyal