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Sensex at five-week low; Nifty settles at 9,710, down 350 pts for the week

All that happened in Friday's session

SI Reporter  |  New Delhi 

Anand James, Chief Market Strategist, Geojit Financial Services    Though Sebi’s softened stance on shell companies revived midcap stocks, volatility persisted keeping risk appetite under check. VIX soared over 15 for the first time in 6 months, as anxiety prevailed over the aggravating tensions between the US and North Korea, and investors were largely cautious ahead of the weekend. IIP and CPI numbers due shortly should offer the markets some distraction. Investors would be keeping their eyes on escalating tensions on the Korean peninsula for its impact on neighbouring economic powerhouses. Sectoral trend PSU banks and metal stocks shed the most. Source: NSE Nifty Pharma bucks trend Nifty Pharma (up 0.1%) was the sole sectoral gainer among NSE indices. All but two pharma stocks ended in green. CLICK HERE TO TRACK INDEX  Top Sensex gainers and losers  Source: BSE Markets breadth negative Market breadth depicted weakness. There were more than two losers against every gainer on BSE. 1,530 shares fell and 1000 shares rose. A total of 129 shares were unchanged. Broader markets outperform  The BSE Midcap (down 0.2%) was down marginally, while the BSE Smallcap settled nearly unchanged. 

The markets settled at their five-week lows as PSU banks and metal stocks tanked, while escalating tensions between the United States and North Korea continued to drive investors away from risk assets. The Nifty PSU Bank index dipped nearly 5% after Oriental Bank, Union Bank of India and State Bank of India fell 5% each post disappointing earnings for the June quarter. Meanwhile, volatility index India VIX hit its highest in six months, suggesting market participants expect major volatility on the Nifty over the next thirty days.  Overseas, global markets ...

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First Published: Fri, August 11 2017. 15:36 IST
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Sensex at five-week low; Nifty settles at 9,710, down 350 pts for the week

All that happened in Friday's session

The markets settled at their five-week lows as PSU banks and metal stocks tanked, while escalating tensions between the United States and North Korea continued to drive investors away from risk assets. The Nifty PSU Bank index dipped nearly 5% after Oriental Bank, Union Bank of India and State Bank of India fell 5% each post disappointing earnings for the June quarter. Meanwhile, volatility index India VIX hit its highest in six months, suggesting market participants expect major volatility on the Nifty over the next thirty days.  Overseas, global markets ...

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