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Nifty drops 60.75 points as geopolitical tensions grip investors

Press Trust of India  |  Mumbai 

benchmark Nifty dropped by 60.75 points to end at 10,741.10 in a volatile session as uncertainties around government formation in and growing geopolitical tensions in hurt investor sentiment.

Most of the Asian markets fell as geopolitical developments and rising benchmark of the US yields spurred a return of risk aversion.

The 50-share Nifty closed at 10,741.10, down 60.75 points or 0.56 per cent, its lowest closing level since 10 May 2018, as 37 of its constituents dropped.

The index hit a high of 10,790.45 and a low of 10,699.70 during the day. It saw an intra-day movement of about 90.75 points.

On the sectoral front, PSU banks dropped by 3.05 per cent, 1.70 per cent, banks 1.10 per cent, 1.03 per cent, 0.92 per cent, infra 0.54 per cent, 0.41 per cent and auto 0.20 per cent.

On the other hand, reality jumped by 2.06 per cent, FMCG 1.81 per cent, media 0.56 per cent and IT 0.15 per cent.

Major index gainers were Hindustan Unilever, Lupin, ITC, Wipro, Yes Bank, Bajaj Finance, Asian Paints, Zeel and M&M.

Losers included, ICICI Bank, Cipla, Ultra Tech Cement Co, Reliance, GAIL, BPCL, SBIN, and

The market breadth, indicating the overall health of the market remained negative. A total of 646 scrips advanced, 1,143 declined, while 72 remained unchanged. Total securities that touched their price bands were 218.

Turnover in the cash segment fell to Rs 29,759.39 crore from Rs 33,295.81 crore as on Tuesday.

A total of 15,854.76 lakh shares changed hands in 1,06,58,397 trades. The market capitalisation of the listed firms on the stood at Rs 1,46,99,747.58 crores.

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

First Published: Wed, May 16 2018. 20:05 IST