North Korea threat drags Sensex 250 pts; Reliance Home Finance up 5%
Equity benchmarks fell sharply in opening on Friday, tracking weakness in Asia post North Korea threatened it could consider testing a nuclear weapon in the Pacific.
The 30-share BSE Sensex was down 163.54 points at 32,206.50 and the 50-share NSE Nifty fell 58.25 points to 10,063.65.
All sectoral indices were in red as Nifty Auto, FMCG, Metal and PSU Bank and Private Bank lost 0.4-1 percent.
The BSE Midcap and Smallcap indices dropped 0.7 percent each as about two shares declined for every share rising on the BSE.
In broader space, Exide Industries, Graphite India, JP Associates, PTC India and Matrimony.com were down up to 4 percent while Ipca Labs rallied 2.5 percent.
The Indian rupee slipped further as it traded at lowest level since April 5, down 28 paise at 65.11 against the US dollar after flat opening.
It has opened at 64.80 per dollar versus previous close of 64.81."The dollar is at an inflection point and it is going to be a large determinant of what the broad direction of emerging markets including rupee is going to be,"
According to him, Reserve Bank of India (RBI) is not comfortable with continued appreciation in rupee. Puri thinks best of rupee appreciation is over.
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