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Sensex, Nifty tumble as North Korea tensions weigh

Reuters 

By Tanvi Mehta

- Indian fell over 1 percent on Friday and were headed for their first weekly loss in six, tracking global as escalating tensions between the United States and North Korea continued to drive investors away from risk assets.

Asian equity slid further and Wall Street closed sharply lower after U.S. President Donald Trump warned Pyongyang against attacking Guam or U.S. allies.

"The mood got aggravated because global opened negatively ... it's more of a fear factor ...," said Anita Gandhi, whole-time director, Arihant Capital Markets, adding that were overripe in terms of valuation.

The broader NSE was down 0.75 percent at 9,746.50 as of 0518 GMT, falling as much as 1.2 percent to its lowest in a month.

The benchmark BSE was 0.69 percent lower at 31,313.59. Both indexes are set to post nearly three percent fall on week.

Bank index dropped as much as 1.3 percent. The index was down nearly 2.5 percent this week up to Thursday's close.

Auto index fell as much 2.3 percent to its lowest since May 24, with Tata Motors and Eicher Motors figuring among top losers.

Union Bank of Ltd fell as much as 7.7 percent to its lowest in over seven months after the state-run bank's profit fell about 30 percent, missing analysts' estimate.

of J Kumar Infraprojects and Prakash Industries resumed trade after India's Securities Appellate Tribunal stayed a SEBI order on trading curbs. in both companies shed as much as 20 percent.

(Reporting by Tanvi Mehta in Bengaluru; Editing by Vyas Mohan)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, August 11 2017. 11:23 IST
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