Sensex, Nifty snap four-session gaining streak, down 1% on N Korea tensions

All that happened in Tuesday's session

4:46 PM

JP Associates, Videocon, others may be referred to NCLT

Stocks of JP Associates, Videocon, Ruchi Soya and Uttam Galva etc tanked up to 14% on news reports that these companies will be referred to The National Company Law Tribunal (NCLT) if debt issue does not get resolved by Mid-December. READ MORE

3:52 PM

Anand James, Chief Market Strategist, Geojit Financial Services

 

Concerns of heavy floods in the financial capital and the heavy selling by FIIs in equities over the past one month ensured that risk appetite was down to a trickle, especially as Asian markets were in a sea of red following North Korea threats. The speeding process of NPA resolution may provide some respite to the market ahead of the F&O expiry, after it managed to hold the crucial 60-DMA level.

3:41 PM

Sensex heatmap at close

Source: BSE

3:38 PM

Market breadth

 

The broad market depicted weakness. There were more than two losers for every gainer on BSE. On the BSE, 1,717 shares fell and 841 shares rose. A total of 142 shares were unchanged.

3:36 PM

Broader markets

 

The BSE Midcap and the BSE Smallcap indices shed 0.8% and 1%, respectively. 

3:35 PM

Markets at close

 

The Sensex settled at 31,388, down 362 points, while the broader Nifty50 ended at 9,796, down 116 points. 

3:29 PM

Nifty PSU Bank leading sectoral loser 

Source: NSE

3:28 PM

Bitcoin value crosses Rs 3 lakh

 

Bitcoin, a leading crypto currency price has crossed Rs. 3 lakh mark on Indian exchanges today morning. At present price quoted on Zebpay, oldest and largest Bitcoin Indian Exchange is Rs 3,00,230 per unit while globally it just fell from $4500 and quoting at $4370. On Unocoin, another big Indian exchange Rs.3, 02,000 per unit

3:21 PM

Market Comment

 

There is good reason for this euro strength to prevail as bouts of risk-off are likely to persist. North Korea’s missile did not fall out of a clear sky; the test launch was likely a ‘retaliation’ to the annual joint military exercises between South Korea and the US, which saw Kim Jong-un as reason to reiterate that the North is also ready should it ever come to an armed conflict. While Japan did not try to shoot down the missile, PM Abe was quick to fire back with words, calling the test launch an “unprecedented, grave and serious threat”. Japan has called an emergency meeting of the UN Security Council (Source: Rabobank International)

3:20 PM

Oil prices gyrate on US hurricane damage 

 

Flooding from tropical storm Harvey caused ongoing large-scale US refinery outages on Tuesday, while crude prices rose on the back of supply disruptions in Colombia and Libya.

 

US West Texas Intermediate (WTI) crude rose 30 cents, or 0.6% to $46.87 a barrel, after falling more than 2% in the previous session. International Brent crude futures were up 29 cents, or 0.6% at $52.18 per barrel.