Stock markets in choppy waters; Sensex drops 368 points dragged by bank shares
Mumbai, Aug 12 (PTI): Benchmark indices Sensex and Nifty ended lower in a highly volatile trade on Tuesday dragged down by blue-chip bank stocks and caution ahead of domestic and US inflation data.
The 30-share BSE Sensex dropped 368.49 points or 0.46 per cent to settle at 80,235.59. During the day, it hit a high of 80,997.67 and a low of 80,164.36, gyrating 833.31 points.
The 50-share NSE Nifty went lower by 97.65 points or 0.40 per cent to 24,487.40.
Investors are also awaiting cues from the US-Russia talks on August 15.
From the Sensex firms, Bajaj Finance, Trent, Hindustan Unilever, HDFC Bank, Eternal, Bajaj Finserv, ICICI Bank, and Bharat Electronics were among the laggards.
However, Maruti, Tech Mahindra, Mahindra & Mahindra and NTPC were among the major gainers.
"The national market reacted with volatility to the ongoing developments in global trade tariffs, reflecting caution following the extension of the US-China tariff truce and ahead of key inflation data due later today. The US inflation figures with any signs of tariff-related impact could influence the Fed's policy stance," Vinod Nair, Head of Research, Geojit Investments Ltd, said.
The BSE midcap gauge dipped 0.25 per cent and smallcap index edged marginally up by 0.04 per cent.
Among BSE sectoral indices, bankex dropped 0.83 per cent, capital goods (0.76 per cent), realty (0.75 per cent), telecommunication (0.46 per cent) and FMCG (0.44 per cent).
Oil & gas, healthcare, metal, utilities, IT and BSE Focused IT were the gainers.
In Asian markets, South Korea's Kospi settled lower while Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng ended in positive territory.
European markets were trading on a mixed note.
The US markets ended lower on Monday.
Global oil benchmark Brent crude climbed 0.18 per cent to USD 66.75 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,202.65 crore on Monday, according to exchange data.
On Monday, the Sensex jumped 746.29 points or 0.93 per cent to settle at 80,604.08. The Nifty climbed 221.75 points or 0.91 per cent to 24,585.05.
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US service member missing after Iran shot down fighter jet rescued
Washington (AP): A US service member who had been missing since Iran shot down a fighter jet has been rescued, President Donald Trump wrote in a social media post early Sunday.
The crew member had been missing since Friday, when Iran downed a US F-15E Strike Eagle. A second crew member was rescued earlier.
Trump wrote that the aviator is injured but “will be just fine,” adding that he took refuge “on the treacherous mountains of Iran.”
Trump added that the rescue involved “dozens of aircraft” and that US had been monitoring his location “24 hours a day, and diligently planning for his rescue.”
The war began with joint US-Israel strikes on February 28 and has killed thousands, shaken global markets, cut off key shipping routes and spiked fuel prices. Both sides have threatened, and hit, civilian targets, bringing warnings of possible war crimes.
The fighter jet was the first US aircraft to have crashed in Iranian territory since the conflict in late February.
Trump said last week that the US had “decimated” Iran and would finish the war “very fast.”
Two days later, Iran shot down two US military planes, showing the ongoing perils of the bombing campaign and the ability of a degraded Iranian military to continue to hit back.
The other jet to go down was a US A-10 attack aircraft. Neither the status of the crew nor exactly where it crashed was immediately known.
A frantic US search-and-rescue operation unfolded after the crash of the F-15E jet on Friday, focusing on a mountainous region in Iran's southwestern province of Kohgiluyeh and Boyer-Ahmad.
Iran also promised a reward for anyone who turned in the “enemy pilot.” Iran's joint military command on Saturday said that it also struck two US Black Hawk helicopters Friday, but The Associated Press couldn't independently verify that.
