The Nasdaq Composite dropped 144.38 points, or 1.00 per cent, to 14,289.45 at the opening bell.
Nazara Technologies issued 1.42 million shares to Gamnat Pte and Plutus Wealth Management at Rs 2,202 per share, a discount of 16 per cent to the company’s current stock price.
“We will have to be a little watchful as typically rising yields, rising crude prices and DXY being high have not been favourable in the near term for us.â€
Nifty50 opened in the green but soon lost momentum under pressure due to a rising dollar and spike in energy prices. Nifty50 registered a perfect reversal formation with a lower top at the intraday high of 17,885 level.
IRCTC’s shares surged 7 per cent and are up nearly 20 per cent in the week already as investors continue to chase the swift upward momentum in the platform company. The company is benefitting from an improved outlook for the travel and tourism sector on the back of reopening of the economy.
A total of 7,644 shares changed hands on the counter till 01:05PM (IST).
Nifty50 formed a Bearish Engulfing candle on the daily scale, threatening the short-term trend with sustained supply at higher levels.
Jindal Worldwide led the gainers. Blue chips like IRCTC and Bosch also saw high buying. Smaller chemicals players led the losers, with DCW and TGV Sraac hitting lower circuit limits. Nalco was also among the top losers.
The 30-share BSE Sensex closed down 555.15 points at 59189.73
The Nifty Realty index was trading 0.21 per cent up at 511.05.
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