Thursday, 29 September 2016

Market after Surgical Attack on Pak

Live: Sensex plunges 560 points after surgical strikes on militants in Pakistan  
Market after Surgical Attack on Pak
Market after Surgical Attack on Pak
India’s benchmark Sensex Index fell over 550 points after India’s director general of military operations Ranbir Singh said that it attacked terrorist camps in Pakistan. At 12.48pm, Sensex was trading at 27972.60, down 555 points or 1.96% while Nifty fell 1.94% or 170 points to 8575.25 points. Earlier in the day, Sensex Index gained as much as 0.68% or 182 points to 28475.57 while Nifty Index rose as much as 0.63% or 55 points to 8,800.65. Indian army conducted strikes across the Line of Control (LoC) against terrorist launch pads on Thursday, said director general of military operations Ranbir Singh.  
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All the sectoral indices were trading lower. BSE Realty Index was the top loser which fell 4.2% followed by BSE Power, Healthcare and Consumer Durables indices which fell 2.5%, 2.4% and 2% respectively. BSE Bankex and Auto indices fell 1.8% and 1% respectively.Today’s fall in Indian equities is an indication that geo-political risk is on a rise. FIIs are likely to sell from hereon. We see the Nifty at 8,400 level and Bank Nifty at 18,500 levels next week. It is now a sell on rally market.

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