Friday, 7 April 2017

US missile strikes on Syria drag Sensex 221 pts, Nifty below 9200; Rupee gains

Equity benchmarks fell sharply on Friday, with the Nifty closing tad below psychological 9,200-mark amid geopolitical tensions after the US military launched cruise missiles against a Syrian airfield. However, the market recouped losses in noon trade on clearance to important GST bills in Rajya Sabha but failed to sustain that for long and fell 259 points intraday on the Sensex.

The 30-share BSE Sensex slipped 220.73 points to 29,706.61 and the 50-share NSE Nifty dropped 63.65 points to 9,198.30, weighed by pharma, energy and FMCG stocks.

Experts feel the market may consolidate further on Monday after pricing in Syria missile strike news and then it may start focussing on March quarter earnings that will be kicked off by Infosys on April 13.

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