Sensex losses swell as October series gets off to shaky start | business-news | Hindustan Times
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Sensex losses swell as October series gets off to shaky start

Extending Thursday’s sharp losses, the Sensex slumped about 108 points to 27,719.81 on Friday as the October derivatives series began on a subdued note mirroring a weak trend in the global market.

business Updated: Sep 30, 2016 10:58 IST
PTI
People watch a large screen displaying Sensex on the facade of the Bombay Stock Exchange.
People watch a large screen displaying Sensex on the facade of the Bombay Stock Exchange.(Reuters)

Extending Thursday’s sharp losses, the Sensex slumped about 108 points to 27,719.81 on Friday as the October derivatives series began on a subdued note mirroring a weak trend in the global market.

The 30-share Sensex fell 107.72 points, or 0.39%, to 27,717.81. It had plunged 465 points in the previous session after India carried out “surgical strikes” on Wednesday night on terror launch pads across Line of Control.

Consumer durables, FMCG, metal and capital goods stocks were trading in the negative zone, down by up to 0.37%.

The NSE Nifty offered a similar picture, which was down 36.05 points, or 0.41%, at 8,555.20.

Brokers said continued selling in view of geo-political tension after India went ahead with surgical strikes on terror base across LoC on Wednesday night mainly dampened sentiment.

The selling came in the face of start of October futures and options series in the derivatives segment, they said.

What unnerved the market further was muted Asian shares tracking overnight sell-off in New York after worries about the future of German banking giant Deutsche Bank lingered.

Hong Kong’s Hang Seng was down 1.36 per cent while the Japan’s Nikkei shed 1.55% in early session on Friday.

The US Dow Jones Industrial Average ended 1.07% lower in yesterday’s trade.