Classifieds | Archives | Jobs | About TGT | Contact | Subscribe
 | 
Last updated 3 hours, 35 minutes ago
Printer Friendly Version | TGT@Twitter | RSS Feed |
HOME LOCAL MIDEAST ASIA WORLD BUSINESS SPORT OPINION WRITERS
Global cues pull Indian equities lower
February 10, 2018
 Print    Send to Friend

MUMBAI: Indian equities on Friday plunged into the negative territory amid a global sell-off, with the key indices − the BSE Sensex and NSE Nifty50 − shedding over 400 points and 100 points respectively, a fall of over 1 per cent each.

According to market observers, heavy selling pressure in banking, auto and capital goods stocks, along with continuous outflow of foreign funds, added to the downward trajectory of the Equity indices.

On the global front, Asian markets slumped on Friday tracking the decline in US stocks overnight (Thursday). The benchmark Dow Jones declined over 1,000-points for the second time this week as rising bonds yields dented investors’ sentiments. The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 34,005.76 points − down 407.40 points or 1.18 per cent from its previous session’s close.

The BSE market breadth was bearish with 1,403 declines and 1,369 advances.

On the National Stock Exchange (NSE), the wider Nifty50 fell by 121.90 points or 1.15 per cent to close at 10,454.95 points.

“Indian equities did not do much post gap-down opening in Friday trade. Asian stocks tumbled to two-month lows after US shares plummeted again in the face of rapidly rising bond yields,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

In the broader markets, the S&P BSE mid-cap index fell mere 0.09 per cent, while the small-cap index edged up by 0.23 per cent.

“Markets corrected further on Friday. A bounce back from the lows helped to curb the losses. The weakness came on the back of negative Asian and European Equity markets,” Deepak Jasani, Head - Retail Research, HDFC Securities, told IANS.

“Major Asian markets have closed on a negative note. European indices like FTSE 100, DAX and CAC 40 traded in the red,” he added.

On the currency front, the Indian rupee weakened by 14 paise to close at 64.40 against the US dollar from its previous close at 64.26. In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 1,351.70 crore while domestic institutional investors bought stocks worth Rs 588.42 crore.

Vinod Nair, Head of Research, Geojit Financial Services, said: “Banks are underperforming, while some buying interest was seen in mid and small-caps after the recent sharp correction.”

Sector-wise, the S&P BSE banking index plunged by 514.03 points, followed by auto index by 239.88 points and capital goods index by 141.24 points.

Indo-Asian News Service

Add this page to your favorite Social Bookmarking websites
Comments
 
Post a comment
 
Name:
Country:
City:
Email:
Comment:
 
    
    
Related Stories
Sensex and Nifty close flat on bearish trend
MUMBAI: The key Indian equity indices closed flat-to-lower on Thursday. The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,817.09 points, clos..
Sensex, Nifty trade in green, IT stocks surge
MUMBAI: After three consecutive days of losses, the key Indian equity indices traded in green d on Wednesday riding on broadly positive Asian markets and a surge in major..
Sensex, Nifty pare day’s gains to close at lower levels
MUMBAI: Paring the day’s entire gains, the key Indian equity indices on Tuesday closed in the red on the back of heavy selling pressure in banking, auto and capital goods..
Selling pressure drags Indian equities lower
MUMBAI: Heavy selling pressure in capital goods, auto, metals, banking and oil and gas stocks subdued the key Indian equity indices on Monday. The key indices recouped..
Sensex, Nifty slip on heavy selling, bank stocks plunge
MUMBAI: Heavy selling pressure in banks, auto, capital goods and metal stocks dragged the key Indian equity indices lower during Friday’s trade session. The barometer ..
FRONTPAGE
 
GALLERY
 
PANORAMA
 
TIME OUT
 
SPORT
 
 
Advertise | Copyright