Photo: The Hindu Business line
Chennai, India (BBN) - The benchmark BSE Sensex plunged nearly 270 points in the late morning trade due to offloading of positions by participants with today being the last day of November series contracts in the derivatives segment.
Also, investors were cautious ahead of September quarter GDP data to be released later in the day, reports The Hindu Business Line.
At 10.25 a.m., the 30-share BSE index Sensex was down 263.59 points or 0.78 per cent at 33,339.17 and the 50-share NSE index Nifty was down 75.1 points or 0.72 per cent at 10,286.20.
Barring realty, all other BSE sectoral indices were trading in the negative zone. Among them, oil & gas index fell 0.95 per cent, followed by PSU 0.87 per cent, banking 0.86 per cent and infrastructure 0.77 per cent, while realty index was up 0.52 per cent.
Major Sensex losers were M&M (-1.73%), Kotak Bank (-1.69%), Cipla (-1.4%), State Bank of India (-1.25%) and Reliance (-1.24%), while the top five gainers were Bajaj Auto (+1.01%), Dr Reddy's (+0.79%), Infosys (+0.24%), Wipro (+0.2%) and Hero MotoCorp (+0.09%).
Asian shares fell on Thursday, weighed down by a plunge in high-flying technology shares, a move that some see as a healthy correction after a strong rally but others believe may herald the peak of a “super cycle” that has been boosting the sector.
MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.5 per cent, with technology bellwether Samsung Electronics falling 2.9 per cent to two-month lows. Japan’s Nikkei dipped 0.1 per cent, led by a 2.0 per cent fall in electronic machinery makers.
In the US, the Nasdaq Composite dropped 1.27 per cent as investors shifted to financials and other sectors even as the S&P 500 was almost flat and the Dow Jones Industrial Average gained 0.44 per cent.
BBN/MMI/ANS