Sunday 3 September 2017

Sensex Drops Over 50 pts, Nifty50 Tests 9,950; AB Capital Tanks 5%

Indian stock market opened higher on Friday following the gains in the Asian stocks in the early morning trade. BSE Sensex gained 40 points to open at 31,932.2 points while NSE Nifty rose nearly 10 points to open at 9,984.15 points. This week Indian equities weigh in on August services sector data and the market participants are expected to largely look up to global trends for direction and digest the Cabinet reshuffle announced yesterday. Within minutes of trading both the key indices pared off the morning gains and fell into negative territory.
Shares of Coal India (up 2.01%), Reliance Industries (up 0.95%), Tata Motors (up 1.06%), Maruti Suzuki (up 0.54%), Cipla (up 0.62%) were the top gainers on the 30-share barometer Sensex. The broader Nifty 50 was trading down 0.11% at 9,962.95 points while the benchmark Sensex was trading 0.16% lower at 31,842.06 points.
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