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MARKETS LIVE: Sensex slips 350 pts as Indo-Pak tensions rise; Re at 71.32/$
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SI Reporter |
Last Updated at February 26, 2019 09:40 IST
EVENT HIGHLIGHTS
Benchmark indices opened 1 per cent lower on Tuesday, after Pakistan claimed that the Indian Air Force (IAF) has violated the Line of Control (LoC), following which the former "scrambled" immediately. Pakistan's claim comes in the wake of tense relations between the two countries in the aftermath of the Pulwama terror attack.
Among the sectoral indices, the Nifty PSU Bank index was trading over 1 per cent lower led by a decline in Central Bank and Orient bank. The Nifty Metal index, too, down 1.50 per cent lower weighed by JSW Steel and Jindal Stainless.
In the broader market, the S&P BSE MidCap index was trading 137 points, or 0.96 per cent lower at 14,093, while the S&P BSE SmallCap index was ruling at 13,503, down 115 points, or 0.84 per cent.
Rupee
The rupee on Tuesday opened 29 paise lower at 71.26 against the US dollar amid reports of fresh geopolitical tensions between India and Pakistan. According to news reports, Pakistan army spokesperson Major General Asif Ghafoor on Tuesday claimed that the Indian Air Force (IAF) had violated the Line of Control (LoC).
Global Markets
Asian stocks were trading mixed in the early trade on Tuesday, a day after they scaled a five-month peak on US-China trade truce while the pound climbed to near four-week highs on a report UK Prime Minister Theresa May could seek to delay a Brexit deadline.
In the overnight trade, US stocks ended higher. The Dow Jones Industrial Average rose 60.14 points to close at 26,091.95 while the S&P 500 added 0.1 per cent to finish its trading day at 2,796.11. In the commodity market, oil prices edged higher after slipping 3 per cent in the previous session.
(with Reuters input)
(with Reuters input)
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