Equity benchmarks started of Friday's trade on a negative note following weak global cues post concerns over Europe growth. The Sensex fell 233.19 points or 0.88 percent to 26404.09 and the Nifty lost 71.70 points or 0.90 percent to 7888.85. About 213 shares have advanced, 571 shares declined, and 23 shares are unchanged. Hindalco, Tata Steel, BHEL, Sesa Sterlite, DLF and Tata Motors declined 2-3 percent while Infosys, BPCL and Dr Reddy's Labs were gainers. The Indian rupee slipped marginally in early trade, down 10 paise to 61.15 a dollar compared to previous day's closing value. Pramit Brahmbhatt, Veracity said today investors are likely to trade cautiously ahead of vital macro data. He expects the rupee to trade rangebound to slightly weak taking cues from strong dollar. He sees rupee ranged between 60.60-61.40/USD. On the global front, Asian markets were down following Wall Street's selloff as investors worried over slowing growth in Europe. German exports dropped 5.8 percent in August, the largest decline since the financial crisis, saw the Dow tumble more than 300 points overnight, while the S&P 500 and Nasdaq slid more than 2 percent each. Remarks from European Central Bank (ECB) President Mario Draghi also weighed. Speaking at the Brookings Institute, he reiterated that quantitative US stocks sank, erasing all and more of the previous day's rally, as investors bypassed US corporate earnings and economic reports to focus on global concerns, including Europe's softening economy. European shares closed down after volatile trade reacting to weak economic data. Germany posted its biggest fall in foreign trade for five and a half years. German exports dropped 5.8 percent in August, the largest decline since the financial crisis. In commodities, crude prices hammered by relentless anxiety about oversupply and waning global demand. Brent crude dropped below USD 90 a barrel for the first time since 2012 and US crude hit a 22-month low. From precious metals space, gold retained gains and is headed for its best week in nearly four months as a slump in equities attracted safe-haven bids for the metal.
Friday 10 October 2014
Sensex falls 200 pts on weak global cues, Nifty breaks 7900
Equity benchmarks started of Friday's trade on a negative note following weak global cues post concerns over Europe growth. The Sensex fell 233.19 points or 0.88 percent to 26404.09 and the Nifty lost 71.70 points or 0.90 percent to 7888.85. About 213 shares have advanced, 571 shares declined, and 23 shares are unchanged. Hindalco, Tata Steel, BHEL, Sesa Sterlite, DLF and Tata Motors declined 2-3 percent while Infosys, BPCL and Dr Reddy's Labs were gainers. The Indian rupee slipped marginally in early trade, down 10 paise to 61.15 a dollar compared to previous day's closing value. Pramit Brahmbhatt, Veracity said today investors are likely to trade cautiously ahead of vital macro data. He expects the rupee to trade rangebound to slightly weak taking cues from strong dollar. He sees rupee ranged between 60.60-61.40/USD. On the global front, Asian markets were down following Wall Street's selloff as investors worried over slowing growth in Europe. German exports dropped 5.8 percent in August, the largest decline since the financial crisis, saw the Dow tumble more than 300 points overnight, while the S&P 500 and Nasdaq slid more than 2 percent each. Remarks from European Central Bank (ECB) President Mario Draghi also weighed. Speaking at the Brookings Institute, he reiterated that quantitative US stocks sank, erasing all and more of the previous day's rally, as investors bypassed US corporate earnings and economic reports to focus on global concerns, including Europe's softening economy. European shares closed down after volatile trade reacting to weak economic data. Germany posted its biggest fall in foreign trade for five and a half years. German exports dropped 5.8 percent in August, the largest decline since the financial crisis. In commodities, crude prices hammered by relentless anxiety about oversupply and waning global demand. Brent crude dropped below USD 90 a barrel for the first time since 2012 and US crude hit a 22-month low. From precious metals space, gold retained gains and is headed for its best week in nearly four months as a slump in equities attracted safe-haven bids for the metal.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment