The BSE Mid-cap Index is trading up 0.72% at 10,616, whereas BSE Small-cap Index is trading up 0.67% at 11,032. Asian markets are mostly lower. US market witnessed a sell-off with S&P 500 cracking over 2%, Dow recording its biggest drop in two years plunging 2% and Nasdaq nose-diving by 2.4% to sub-5000 levels.
The BSE Mid-cap Index is trading up 0.72% at 10,616, whereas BSE Small-cap Index is trading up 0.67% at 11,032.
All sectors are in green except IT sector is down.
HUL, Coal India, Vedanta, BHEL, L&T, Bajaj-Auto, Tata Steel, Maruti Suzuki, HDFC, ITC and Hero Motocorp are among the gainers, whereas NTPC, Dr. Reddy's Lab, TCS, Cipla, HDFC Bank, M&M and Tata Motors are losing sheen on BSE.
China’s stock market has officially entered bear territory after falling for three days in a row. Asian markets are mostly lower. US market witnessed a sell-off with S&P 500 cracking over 2%, Dow recording its biggest drop in two years plunging 2% and Nasdaq nose-diving by 2.4% to sub-5000 levels.
Moody's Investors Service expects India's weakened rural economy to remain subdued through the fiscal year ending March 2016 (FY2016), particularly if the risk of below-average monsoon rainfall materializes. "A sustained soft patch for India's rural economy would weigh on private consumption and non-performing assets in the agricultural sector, a credit negative for the sovereign and banks," Moody's.
HSBC Holdings PLC, which is dropping sponsorship of its closely watched China manufacturing and services gauges, will be replaced by Caixin Media Co., the index’s compiler Market said.
Greek banks and the stock exchange were shut on Monday after creditors refused to extend the country’s bailout and savers queued to withdraw cash.
Indian economy is not really centric to Greece directly but if it defaults in its debt obligation and situation takes the form of a crisis in Europe, India could also feel the tremors like rest of the world, the ASSOCHAM said.
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