New Delhi [India], March 13 (ANI): The home fairness markets noon market stood within the pink on Friday, extending the continuing promoting spree amid Brent Crude transferring as much as buying and selling at USD 102 per barrel and geopolitical tensions in West Asia.The benchmark indices opened decrease in mid-day commerce, reflecting cautious investor sentiment. The Nifty 50 index stood at 23,150.50, declining by 488.65 factors or (-2.07 per cent), whereas the BSE Sensex stood at 74,534.30, down by 1500.12 factors or (-1.97 per cent), at 1:55 pm.
VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, mentioned, ‘With the heightened uncertainty surrounding the West Asian battle persevering with, globally markets are weak and in unchartered territory. Weakness within the US markets point out that rebound available in the market is a while away. With Brent crude round $100, bulls are on the defensive. With the FIIs persisting with their sustained promoting technique, even largecap bluechips are beneath strain.’
Nikkei 225, Japan market, stood at 53,774.00, down by 678.96 factors (-1.26 per cent); Straits Times, Singapore market, stood at 4,838.07, down by 17.26 factors (-0.36 per cent). Hang Seng, Hong Kong market was right down to 25,441.00 by 275.76 factors (-1.08 per cent), whereas Taiwan Weighted, Taiwan market stood at 33,400.32, down by 181.54 factors (-0.54 per cent), and KOSPI, South Korea market stood at 5,487.24, down by 96.01 factors (-1.75 per cent)
Vijayakumar highlighted the pharma sector as one that’s standing its floor. ‘One phase that’s weathering the storm is prescription drugs. This sector just isn’t impacted by exterior headwinds. In truth, rupee depreciation is a constructive for the sector, which is a significant exporter. It seems that portfolio churns are occurring in favour of prescription drugs. There is nothing a lot buyers can do on this difficult occasions apart from remaining calm and persevering with with systematic funding,’ he mentioned. (ANI)