Sun Pharma Shares Slump 10%, Sensex Volatile

On Friday Sensex and NSE Nifty started on a volatile note tracking heavy losses in Sun Pharma shares. Banking shares were also under pressure. After opening marginally higher, the 30-share index turned negative and was trading 79.53 points, or 0.22%, lower at 36,294.55 in early trade. Similarly, the NSE Nifty slipped 16.25 points, or 0.15%, to 10,888.95.

On Friday in morning session, Sun Pharma was the biggest loser on Sensex, cracking up to 10%. Other losers were Yes Bank, Bharti Airtel, HUL, Axis Bank, M&M, Coal India, Asian Paints, Tata Motors and TCS, shedding up to 1.49 per cent. ONGC, PowerGrid, RIL, Vedanta and Maruti were the top gainers, rising up to 1%.

On a net basis, foreign portfolio investors (FPIs) purchased shares worth Rs 842.13 crore on Thursday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 727.46 crore, provisional data available with BSE showed.

On Thursday, the Sensex settled 52.79 points, or 0.15 per cent, higher at 36,374.08; and the broader NSE Nifty inched up 14.90 points, or 0.14 per cent, to 10,905.20.

The rupee, meanwhile, depreciated 18 paise against the US dollar to 71.21.

The benchmark Brent crude futures rose 0.88% to $61.72 per barrel.

On Wall Street, Dow Jones Industrial Average ended 0.67 per cent higher at 24,370.10 points on Thursday.

Elsewhere in Asia, Hong Kong’s Hang Seng was up 0.94%, Shanghai Composite Index was trading 0.79% higher, Kospi rose 0.55% in early trade and Japan’s Nikkei rallied 1.26%.