BSE Sensex and Nifty are set to open lower amid weak Asian markets and
China stocks coming under strong selling pressure. Despite policy moves
by the China central bank to support the economy, market participants
continue to fret over the slowdown in the country's economy. The SGX CNX
Nifty was down nearly 1.4 per cent at 7,778, indicating a lower opening
for Indian markets.
1) Most of the Asian stocks fell on Wednesday as investors feared fresh rate cuts in China would not be enough stabilise its cooling economy or halt a collapse in its stock markets.
2) China's stock markets were under pressure with Shanghai Composite trading 2.2 per cent lower.
3) Analysts say that besides global markets, the value of the rupee holds key to the fortunes of Indian markets. The rupee slipped to 66.28/dollar in early trade today. Yesterday, the rupee posted its biggest gain of the year to close at 66.10/dollar.
4) The rebound in rupee and renewed hopes on the GST Bill had helped Sensex rise nearly 300 points on Tuesday.
5) Foreign institutional investors sold Indian stocks worth Rs 2,080 crore on Tuesday. They have been heavy sellers of Indian stocks in the past four days, putting pressure on Sensex. In the past four days, they sold Indian stocks worth over Rs 11,000 crore.
6) Foreign institutional investors hold nearly 25 per cent of BSE 200 stocks.
7) In contrast, domestic investors bought stocks worth Rs 1,963 crore on Tuesday. They have been big buyers of Indian stocks for the last four days, offering some support to Sensex and Nifty.
8) Following a near 20 per cent plunge in stock prices in past three days, the People's Bank of China cut interest rates and lowered the amount of reserves banks late on Tuesday in a much-anticipated move that some economists said was long overdue.
9) China's policy moves to prop up the economy were initially cheered by markets around the world but the impact didn't last long as investors quickly resumed their focus on the deteriorating outlook for China and the global economy.
10) Overnight, major US stock indexes shot up over 3 per cent after China's policy easing but later gave up all their gains, with the S&P 500 ending down 1.4 per cent.
1) Most of the Asian stocks fell on Wednesday as investors feared fresh rate cuts in China would not be enough stabilise its cooling economy or halt a collapse in its stock markets.
2) China's stock markets were under pressure with Shanghai Composite trading 2.2 per cent lower.
3) Analysts say that besides global markets, the value of the rupee holds key to the fortunes of Indian markets. The rupee slipped to 66.28/dollar in early trade today. Yesterday, the rupee posted its biggest gain of the year to close at 66.10/dollar.
4) The rebound in rupee and renewed hopes on the GST Bill had helped Sensex rise nearly 300 points on Tuesday.
5) Foreign institutional investors sold Indian stocks worth Rs 2,080 crore on Tuesday. They have been heavy sellers of Indian stocks in the past four days, putting pressure on Sensex. In the past four days, they sold Indian stocks worth over Rs 11,000 crore.
6) Foreign institutional investors hold nearly 25 per cent of BSE 200 stocks.
7) In contrast, domestic investors bought stocks worth Rs 1,963 crore on Tuesday. They have been big buyers of Indian stocks for the last four days, offering some support to Sensex and Nifty.
8) Following a near 20 per cent plunge in stock prices in past three days, the People's Bank of China cut interest rates and lowered the amount of reserves banks late on Tuesday in a much-anticipated move that some economists said was long overdue.
9) China's policy moves to prop up the economy were initially cheered by markets around the world but the impact didn't last long as investors quickly resumed their focus on the deteriorating outlook for China and the global economy.
10) Overnight, major US stock indexes shot up over 3 per cent after China's policy easing but later gave up all their gains, with the S&P 500 ending down 1.4 per cent.
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