Nifty skids below key 10,000 level

Mumbai: The NSE benchmark Nifty dropped below the psychological 10,000-level, plunging over 157 points to 9,964 on across-the-board selling, triggered by weak global cues after North Korea threatened it may explode a hydrogen bomb over the Pacific Ocean.

Overseas, Asian markets ended lower amid geopolitical tensions but European markets recovered to trade higher ahead of key speech from UK Prime Minister Theresa May. US stocks declined yesterday, as profit booking emerged after recent winning streak.

The Nifty opened lower at 10,094.35 and moved in a range of 10,095.05 and 9,952.80 before closing at 9,964.40, dropped by 157.50 points, or 1.56 per cent. It saw an intra-day movement of about 142.25 points.

On the sectoral front, realty dipped 4.35 per cent, metal 4.04 per cent, PSU banks 2.80 per cent, infra 2.41per cent, media 2.34 per cent, energy 2.15 per cent, private bank 1.83 per cent, banks 1.74 per cent, pharma 1.71 per cent, Fin service 1.50 per cent, auto 1.13 per cent and FMCG 1.06 per cent.

Major Index losers were, Hindalco, Tata Steel, Vedanta, Yes Bank, UltraCemCo, ACC, Auropharma and Indiabulls Housing. Gainers were Hcl Tech, Wipro, Infratel and Tata Motors.

The broader indices extended losses, as Nifty Midcap and Smallcap fell 2.86 per cent and 3.14 per cent, respectively. The market breadth, indicating the overall health of the market, showed the losers taking a lead over the gainers.

On the NSE, 1,494 stocks declined, compared with 216 stocks advanced and 52 stocks remaining unchanged. Total securities that hit their price bands were 143. Turnover in the cash segment eased to Rs 30,086.39 crore from Rs 30,566.82 crore on Thursday.

A total of 14,639.91 lakh shares changed hands in 10,308,194 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,31,87,759.07 crore.