Mumbai: The benchmark BSE Sensex fell further by over 250 points in late morning session on Tuesday due to across the spectrum selling led by power, banking and oil and gas stocks amid heightened geopolitical worries.
The 30-share Sensex opened lower and fell further by 250.02 points, or 0.79 per cent, to 31,500.80 in late morning deals. The 50-share Nifty of NSE fell below 9,850-level at 9,833.05, down by 79.75 points, or 0.80 per cent.
Shares of telecom, power, financials, IT, Teck, FMCG, capital goods led the losses amid weak Asian cues. Asian stocks dropped after North Korea fired ballistic missile over northern Japan, escalating geopolitical tensions.
Among index scrips, NTPC dropped the most by over 3 per cent to Rs 168.05 apiece. The government is selling 5 per cent of its stake in the power firm at a floor price of Rs 168 on Tuesday.
HDFC lost 2.02 per cent, while Axis Bank fell by 1.43 per cent, Bharti Airtel by 1.40 per cent and Coal India by 1.36 per cent. HDFC Bank, Reliance Industries, Larsen and Toubro and Hindustan Unilever fell up to 1 per cent. Foreign portfolio investors (FPIs) sold shares worth Rs 124.74 crore on net basis yesterday, showed provisional data.
Domestic institutional investors (DIIs) bought shares worth Rs 476.26 crore.
Rupee down 4 paise at 63.95 in late morning deals.The rupee was down by 4 paise at 63.95 per dollar in late morning session on sustained bouts of month-end dollar demand from banks and importers.
The domestic unit hovered between 63.9650 and 63.93 during morning deals. It was quoted at 63.95 at 1030 hrs. Weak dollar overseas on renewed North Korea crisis capping the rupee losses’, a dealer said.