Sensex slumps over 1,100 pts in early trade; Nifty falls below 16,950
Mumbai(PTI): Equity benchmark Sensex tanked over 1,100 points or 2 per cent in opening trade on Thursday, tracking losses in index-majors Titan, Wipro and HDFC twins amid a weak trend in the Asian markets.
The US Federal Reserve's indication to raise interest rates soon and persistent foreign fund outflows weighed on market sentiment, traders said.
The BSE gauge was trading 1,155.61 points or 2 per cent lower at 56,702.54 in early trade. Likewise, the Nifty declined 329.15 points or 1.91 per cent to 16,948.80.
Titan was the top loser in the Sensex pack, shedding 4.06 per cent, followed by Wipro, Dr Reddy's, HDFC Bank, Tech Mahindra and Infosys.
On the other hand, Maruti and NTPC were the gainers. Equity, forex and bullion markets were closed on Wednesday on account of Republic Day.
On Tuesday, the 30-share BSE Sensex finished 366.64 points or 0.64 per cent higher at 57,858.15. Similarly, the broader NSE Nifty rose 128.85 points or 0.75 per cent to close at 17,277.95.
The US Fed on Wednesday indicated that it may raise interest rates in March to fight inflation. Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading with deep losses in mid-session deals.
Stock exchanges in the US ended on a mixed note in the overnight session.
Meanwhile, international oil benchmark Brent crude rose 0.93 per cent to USD 89.12 per barrel.
Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 7,094.48 crore Tuesday, as per provisional data.
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West Bengal teenager shot dead while shooting reels with handgun
Kolkata, Nov 22: A class eight student was killed after a bullet pierced his skull when he was shooting reels with a handgun in West Bengal's Malda district, police said on Friday.
The incident happened in the Kaliachak area of the district on Thursday afternoon when the handgun, the teenager was using to shoot the video at his house, accidentally fired, a senior police officer said.
Safiul Islam (13) was shooting the video on the roof of his residence at Srirampur under the jurisdiction of Kaliachak police station when a bullet from the 7 mm pistol went off and pierced his skull.
The minor's neighbours and family members rushed to the roof on hearing the sound of a gunshot and took him to a hospital where the doctors declared Islam dead.
"We are trying to trace the source of the gun, which was an improvised pistol having sophisticated features," the officer said.
Another minor, stated to be a friend of the deceased, was detained by police.
He reportedly told the police that the deceased was addicted to mobile handsets and was making reels when the accidental firing took place, the officer said.
It was initially believed that Saiful was alone when the incident occurred, while interrogations revealed that the detained minor was also present there.
He fled the spot amid chaos after the incident, the police officer added.
