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Sensex plunges 465 points to end below 28,000; Nifty closes at 8,591 after India's 'surgical strikes' across LoC

Asian markets rallied after OPEC members agreed to curb output in a surprise deal, though investors were wary of chasing markets higher as the US presidential election nears.

BT Online | September 29, 2016 | Updated 15:56 IST
Sensex plunges 465 points to end below 28,000; Nifty closes at 8,591 as tensions at Border flare
Photo: Reuters


  • All but one stock on Sensex end the day in red terrain.
  • "All the positives are discounted, and therefore in the short term, risk to reward ratio is unfavorable for the bulls. Therefore short term traders and medium term investors should actively consider booking profits and stay on the sidelines," said Jimeet Modi, CEO, SAMCO Securities.
  • 03:45 pm: Sensex plunges 465 points to end below 28,000; Nifty closes at 8,591 as tensions at Border flare; Adani Ports top loser
  • 02:00 pm: Enthused over upbeat investor sentiment, as many as 12 small and medium enterprises (SMEs) will hit the capital markets tomorrow to raise an estimated Rs 70 through initial public offers.
  • 12:52 pm: India's volatility index VIX rises 31% to hit 3-month High
  • 12:50 pm: Carried out surgical strikes on Pakistan launch pads, says Director General of military operations
  • 12:40 pm: Sensex tanks over 500 points, Nifty breaches 8,600 after India claims cross-border firing with Pakistan
  • 12:25 pm: Sensex falls 150 points, Nifty breaches below 8,700
  • 11:45 am: Shares of Hindustan Copper fell as much as 4.36 per cent on government's plan to sell 7 per cent stake through a two-day offer. The share sale will be done through offer for sale (OFS) route at a base price of Rs 62 per share as a part of this year's disinvestment programme.
  • 11:30 am: Senses pared gains to trade flat, while the broader Nifty50 slipped below 8,800 level.
  • The state excise minister informed the assembly that new policy will be formed on the concept of abstinence and will be more inclusive in nature. Earlier, Kerala had banned buying and selling of liquor and had forced about 20 per cent shops to pull down their shutters in the last two years.
  • 11:10 am: Liquor stocks such as United Breweries (Holdings), United Spirits and Radico Khaitan surged up to 10 per cent after Kerala government said it is planning to announce a revised policy on liquor. 
  • 10:10 am: ICICI Prudential Life Insurance, the first Indian insurer to get listed on stock exchanges, made a tepid debut on D-Street. The scrip got listed at Rs 329 on BSE, a 1.5 per cent discount to its offer price of Rs 334. On NSE, the stock got listed at Rs 330 per share.
  • 09:50 am: MCX shares jumped over 10 per cent to hit fresh 52-week high of Rs 1400. Brokerage UBS believes introduction of options in commodities may result in driving higher penetration. It maintained 'buy' on the stock.
  • Sell on rise: It seems that 8,700 is acting as sheet anchor for the Nifty at least for the current expiry, said Angel Broking. The brokerage does not want to get carried by this move, and interprets this bounce as a selling opportunity. 
  • 09:17 am: Sensex rises over 150 points, Nifty jumps past 8,800 on positive global cues; ONGC, RIL top gainers
  • Oil prices: US West Texas Intermediate (WTI) crude was trading above $47 a barrel, after closing the previous session up $2.38, or 5.3 per cent, while Brent crude was hovering around $49.00 a barrel, having settled up $2.72, or 5.9 per cent.
  • Oil futures extended gains after rising nearly 6 per cent the day before post OPEC move to curb crude output.
  • The Organization of the Petroleum Exporting Countries agreed to limit its production to a range of 32.5-33.0 million barrels per day (bpd) in talks held on the sidelines of an energy conference in Algeria.
  • Asian markets on Thursday: Asian markets rallied after OPEC members agreed to curb output in a surprise deal, though investors were wary of chasing markets higher as the US presidential election nears.
  • Wall Street on Wednesday:Wall Street ended higher on Wednesday after an OPEC agreement to limit crude output fueled a rally in oil and more than offset nervousness about a tight race for the US presidency.
  • Markets on Tuesday: Snapping three sessions long losing spree, the S&P BSE Sensex ended 69 points higher, while the broader Nifty50 closed just a tad below its key 8,750 level.

 

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