Sensex slips 190 pts on Korea jitters, Nifty50 tests 9,900




Experts suggest maintaining limited leveraged positions and keeping them hedged until market resume positive trend. NSEBSESun PharmaLoading data…

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                        ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESMahindra & MahindraInfosysHindustan UniLeverhimachal fibresCoal IndiaBharti AirtelAdani PowerAdani EnterprisesEXPAND TO VIEW ALL Snapping their three-day winning streak, Benchmark indices closed on a negative note after North Korea conducted its sixth nuclear test on Sunday and South Korea fired missiles to simulate an attack on the North’s main nuclear test site on Monday.

                        Global markets were spooked with Japan’s Nikkei slipping 0.9 per cent at 19,508.25 and South Korea’s Kospi dropping 1.1 per cent to 2,332.01. Hong Kong’s Hang Seng lost 0.8 per cent to 27,736.67, while the Shanghai Composite remained little changed, adding 0.1 per cent to 3,371.77.

                        Domestic indices extended losses amid heavy selling on bluechip counters.

                        “The news of North Korea’s latest nuclear test rattled market across the globe, including ours. After a flat start, it gradually slipped lower but marginal recovery in the latter half trimmed some losses,” said Jayant Manglik, President, Retail Distribution, Religare Securities

                        “The lingering geo-political issues are causing pain every now and then. We suggest maintaining limited leveraged positions and keeping them hedged until market resume its trend,” he added.

                        BSE Sensex cracked and lost as many as 190 points or 0.60 per cent to 31,702.25 with shares of Adani Ports (down 2.61 per cent), Bharti Airtel (down 2.21 per cent), Infosys (down 2.04 per cent), Hindustan Unilever (down 1.94 per cent) and Mahindra & Mahindra (down 1.91 per cent) being major drags on the index.

                        On the flipside, Coal India (up 3.38 per cent), Sun Pharma (up 2.79 per cent) and ONGC (up 1.06 per cent) were the top gainers on BSE.

                        The 50-share Nifty closed the session at 9,912.85, down 61 points or 0.62 per cent.

                        Barring Nifty Media (up 0.60 per cent) and Nifty Metal (up 0.14 per cent), all sectoral indices ended the day in red.

                        Top sectoral loser for the day, Nifty Realty snapped a three-day winning streak and fell 1.65 per cent to 282.90.

                        In the broader markets, the BSE Midcap index slipped to 15,580.42, down 106 points or 0.68 per cent with shares of Adani Power (down 5.21 per cent), Reliance Capital (down 4.37 per cent), Adani Enterprises (down 4.10 per cent) and MRPL (down 3.25 per cent) declining over 3 per cent.

                        Meanwhile, smallcap stocks such as Kwality (down 19.99 per cent), BSL (down 9.71 per cent) and Himachal Fibres (down 9.24 per cent) dragged the BSE Smallcap index down.

                        Among specific stocks, shares of Aditya Birla Capital, which got listed on the stock exchanges on Friday, hit the lower circuit limit of 5 per cent. The scrip plunged 5 per cent to close at Rs 235.75.

                        In the primary market, Matrimony.com, which runs online match making business under the BharatMatrimony brand, is set to launch its initial public offer on September 11 and has fixed a price band of Rs 983-985 to raise over Rs 500 crore.




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