Sensex and Nifty take another hit after Dow's 1000-point drop; Fortis Healthcare bucks trend

Last Updated: Fri, Feb 09, 2018 15:53 hrs
Bombay Stock Exchange building is pictured next to police van in Mumbai

Friday is another day when stocks are being battered again on both the Sensex and Nifty.

This after US stocks plunged more than 1000 points for the second time this week.

The Dow ended down 1033 points or 4.15 per cent to 23,860.46 on Thursday, the second-worst point drop in its history, eclipsed only by Monday's historic 1,175-point nosedive, as reported by CNN and other media outlets .

The S&P 500 dropped 100.66 points, or 3.75 percent, to 2581.00. The Nasdaq Composite Index tumbled 274.82 points, or 3.90 perc ent, to 6777.16.

Reflecting the fall, the Sensex shed 500 points and NSE 150 points-plus. Both the indices though recovered some ground, the Sensex ending 407.40 points down at 34005.76 and the NSE ending 121.90 points down at 10454.95.

Bucking the fall on the Nifty50 were twelve stocks including HCL Tech, Tata Steel, Lupin and Asian Paints , all of which gained between 2.24% to 1.06%.

On the BSE, Fortis made handsome gains ending 17.61% at Rs 148.30 on news that its beleaguered promoters, Shivender Singh and Malvinder Singh, had both resigned from the board and that they might have found a prospective buyer.

This despite a Bloomberg report that the Singh brothers had pulled out Rs 500 crore out of Fortis with board approval about a year ago.

SAIL, Whirlpool and Reliance Power were the other big gainers.

Rising bonds yields were to blame for dampening investor sentiment in the US, analysts said.

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