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Sensex Sheds Over 150 Points, Nifty Below 11,500; Sun Pharma Drops 4%

NDTV Profit logo NDTV Profit 07-09-2018 NDTV Profit Team
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Benchmark equity indices opened on a negative note on the last day of the week. At 9:16 am, the S&P BSE Sensex plunged 162.55 or 0.43 per cent to trade at 38,080.26. The broader Nifty50 was trading at 11,499.30, down 24.60 points or 0.21 per cent. Asian shares carved out a 14-month trough on Friday as investors feared a new salvo of Sino-US tariffs could come at any moment, while a slump in US chip stocks rippled through the tech-heavy region.

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Main losers on Sensex pack in the morning session were Vedanta, YES Bank, Power Grid, SBIN, ICICI bank and Sun Pharma. Main laggards on Nifty pack were India Bull Housing Finace (-0.75%), Grasim (-0.58%), SBIN (-0.52%), Tata Motors (-0.48%) and Bajaj Finance (-0.44%).

In global commodity markets, the dip in the dollar left gold a sliver higher at $1,202.81 an ounce. Crude oil was subdued after falling more than 1 per cent on Thursday when US data showed gasoline inventories rose unexpectedly last week.

On the other hand, major gainers in the 30-share Sensex pack in the session were TBajaj Auto, HeroMotoCorp, Mahindra & Mahindra, Tata Motors, Hindustan Unilever and Coal India. UPL (+0.42%), Hindalco (+0.17%), Lupin (+0.11%), Dr Reddy's (+0.06%) and ZEEL (+0.06%) led the pack of Nifty gainers.

Meanwhile, stock markets closed on a higher note on Thursday led by energy, pharma and commodity stocks. BSE benchmark index Sensex gained 224 points to end at 38,242 while the NSE Nifty rose 59 points, to settle at 11,536.

(With agencies inputs)

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