Thursday, 29 September 2016

Indo-Pak tensions drag Sensex 465pts, Nifty below 8600 on expiry

The market butchered on the day of F&O expiry, posting the biggest one-day fall in last three months Thursday as investors opted for profit booking due to elevated geopolitical tensions at India and Pakistan border. However, benchmark indices were higher in morning trade following a rally in global peers that outperformed India after surge in oil prices on OPEC meet. 


The market posted higher ever turnover of Rs 11.5 lakh crore. The 30-share BSE Sensex crashed 573 points intraday and ended below the psychological 28000 level. The index closed at 27827.53, down 465.28 points or 1.64 percent. The 50-share NSE Nifty ended below 8600 level for the first time since August 26. 


It hit an intraday low of 8558.25, before closing down 153.90 points or 1.76 percent at 8591.25. However, foreign institutional investors as well as domestic insitutional investors were net buyers amid market correction. FIIs net bought Rs 3,413.37 crore and DIIs Rs 1,630.88 crore worth of shares.


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