Sensex slips 589 pts as border tensions simmer
[ad_1] MUMBAI: India-Pakistan border tensions spooked Dalal Street investors on Friday, with the sensex closing 589 points down at 79,213 points, while Nifty on the NSE lost 207 points to 24,039 points. Some profit-taking after a seven-session gain that added about 8.5% to each of the indices also led to the slide in the indices, market players said.After opening marginally higher, sensex lost steam and dipped to the day's low at 78,606 points, down nearly 1,200 points from Thursday's close. However, end-of-the-session buying, mainly by foreign funds, helped it recover part of its early losses.Although both sensex and Nifty closed less than 1% lower, the selloff was severe outside blue-chip stocks.As a result, BSE's midcap index closed 2.4% down, while the smallcap index was down 2.6%. According to Vinod Nair of Geojit Investments, investor sentiment turned cautious amid escalating tensions […]