Indian Markets Drop; Sensex Down Over 100 Points

Indian stock markets were trading lower on Thursday. The S&P BSE Sensex dropped 103.6 points, or 0.40 percent at 25948.22. The 30-share index touched a high of 26,049.14 in morning trade. The Nifty50 fell 0.47 percent to 7995.40, after touching a high of 8,013.65 in morning trade.

The S&P BSE Midcap Index dropped 0.55 percent, while the BSE S&P Smallcap Index fell 0.58 percent.

The Indian rupee dropped 26 to trade at 68.82 against the U.S. dollar.

Direxion Daily India Bull 2X Shares INDL fell 2.16 percent to close at $41.21 on Wednesday, while PowerShares India Portfolio (ETF) PIN dropped 0.74 percent to close at $18.66.

US stock markets closed mostly higher overnight, with the Dow Jones Industrial Average gaining 0.31 percent, the S&P500 index rising 0.08 per cent, and the Nasdaq Composite dropping 0.11 percent.

US WTI crude futures on the NYMEX gained 0.10 percent to trade at $48.01 per barrel.

Top market movers among the BSE index are as follows

• Kohinoor Foods Ltd. rose about 20 percent to 54.70 INR.
• Ideal Texbuild Ltd. rose 18 percent to 93.00 INR.
• MRO-TEK Realty Ltd. shares gained around 19 percent to 60.30 INR.
• Maithan Alloys Ltd. shares surged 17 percent to 251.00 INR.

• W H Brady & Company Ltd. shares dropped around 10 percent to 126.70 INR.
• India Steel Works Ltd. fell around 9 percent to 3.45 INR.
• Elixir Capital Ltd. slipped 9 percent to 34.05 INR.
• Shri Keshav Cements & Infra Ltd. shares declined 9 percent to 84.65 INR.