Sensex dips by 97 points amid rising geopolitical tensions
Jun 17, 2020
Mumbai (Maharashtra) [India], June 17 : Geopolitical tensions between India and China at the Ladakh border curbed investors risk appetite, leading equity benchmark indices to close with slight cuts on Wednesday.
The bourses experienced bouts of volatility while the economy opens up after extended lockdowns and COVID-19 cases continue to rise across the country.
At the closing bell, the BSE S&P Sensex was down by 97 points or 0.29 per cent at 33,508 while the Nifty 50 edged lower by 33 points or 0.33 per cent at 9,881.
Sectoral indices at the National Stock Exchange were mixed. Among stocks, Bharti Infratel plunged by 4.5 per cent to Rs 206.30 per share.
Kotak Mahindra Bank dipped by 2.3 per cent, ITC by 2.2 per cent, Mahindra & Mahindra by 1.9 per cent and Hindalco by 1.6 per cent. Power Grid Corporation, Bajaj Finserv, Asian Paints and Vedanta too traded with a negative bias.
However, the country's largest passenger car maker Maruti Suzuki accelerated by 4 per cent to close at Rs 5,725 per unit. Bharti Airtel moved up by 3.4 per cent, Wipro by 2.4 per cent, Britannia by 1.9 per cent and Axis Bank by 1.8 per cent.
Meanwhile, Asian share markets took a breather as a resurgence of coronavirus cases challenged market confidence in a rapid economic recovery.
Japan's Nikkei eased by 0.56 per cent after jumping almost 5 per cent a day earlier for its biggest daily gain in three months.
Hong Kong's Hang Seng edged higher by 0.56 per cent while South Korea's Kospi and Shanghai Composite ticked up by 0.14 per cent each.
