The BSE Sensex tanked over 500 points to 28,251 on weak global cues. The Indian stock market declined most since Britain voted to leave the European Union on June 24. The equity market opened lower on Monday tracking weakness in Asia and a plunge in US stocks on Friday on rising prospects that the US Federal Reserve could hike interest rates soon.
At 10:37 AM, the S&P BSE Sensex is trading at 28,370 down 427 points, while NSE Nifty is trading at 8,732 down 135 points.
The BSE Mid-cap Index is trading down 1.96% at 13,083 whereas BSE Small-cap Index is trading down 1.38% at 12,684.
Infosys, Delta Corp, Balkrishna Industries, ICRA, Tech Mahindra and Redington are among the gainers, whereas ICICI Bank, Tata Motors, Axis Bank, Tata Steel and M&M are losing sheen on BSE.
Some buying activity is seen in IT and teck sectors, while auto, capital goods, metal, banking, realty, power and finance sectors are showing weakness on BSE.
The INDIA VIX is up 12.16% at 14.8400. Out of 1,858 stocks traded on the NSE, 1,270 declined, 280 advanced and 308 remained unchanged today.
A total of 10 stocks registered a fresh 52-week high in trades today, while 12 stocks touched a new 52-week low on the NSE.
The rupee opened lower by 21 paise at 66.88/$ against US Dollar Monday as against the previous close of 66.67/$.
Asian markets opened lower on Monday. Shanghai Composite and Nikkei 225 slippeed over 1.5% each, while Hang Seng tumbled 2.5%.
Wall Street closed lower on Friday after Boston Fed President Eric Rosengren, a historically dovish policymaker, said the US central bank faced increasing risks if it waited too long to raise interest rates. The Dow Jones Industrial Average tanked 2.13% to 18,085, the S&P500 lost 2.45% to 2,127.
European stocks closed sharply lower after Wall Street stock indexes dropped and data showed Germany's exports fell in July.
Global markets are experiencing a free fall after worries of a rate hike by the US Fed were reignited when Boston Fed president Eric Rosengren warned of increasing risks if Fed waited too much longer to raise interest rates. North Korea meanwhile is in a defiant mode and ready to conduct yet another nuclear test.
The monsoon has disappointed towards the end with most parts of the country seeing below normal rainfall. Key macro data namely IIP and CPI inflation are scheduled to be released on Monday.
Announcements of ICICI Prudential Life Insurance IPO plans and Indiabulls Housing Finance public issue of NCDs are expected today. L&T Technology Services (LTTS) IPO is set to open today.
Four of the 10 most valued Indian companies together lost Rs.40,779.97 crore in market valuation last week. The market valuation of TCS plummeted by Rs.31,723.89 crore to Rs 4,63,543.17 crore, taking the steepest hit among the top-10 firms.
India's forex reserves increased by $989.5 million to an all-time high of $367.76, the Reserve Bank said on Friday. According to the bulletin, the reserves had touched an all-time high of $367.16 billion previously. Foreign currency assets (FCAs) swelled by $952.2 million to $342.23 billion for the week ended September 2.
At 10:37 AM, the S&P BSE Sensex is trading at 28,370 down 427 points, while NSE Nifty is trading at 8,732 down 135 points.
The BSE Mid-cap Index is trading down 1.96% at 13,083 whereas BSE Small-cap Index is trading down 1.38% at 12,684.
Infosys, Delta Corp, Balkrishna Industries, ICRA, Tech Mahindra and Redington are among the gainers, whereas ICICI Bank, Tata Motors, Axis Bank, Tata Steel and M&M are losing sheen on BSE.
Some buying activity is seen in IT and teck sectors, while auto, capital goods, metal, banking, realty, power and finance sectors are showing weakness on BSE.
The INDIA VIX is up 12.16% at 14.8400. Out of 1,858 stocks traded on the NSE, 1,270 declined, 280 advanced and 308 remained unchanged today.
A total of 10 stocks registered a fresh 52-week high in trades today, while 12 stocks touched a new 52-week low on the NSE.
The rupee opened lower by 21 paise at 66.88/$ against US Dollar Monday as against the previous close of 66.67/$.
Asian markets opened lower on Monday. Shanghai Composite and Nikkei 225 slippeed over 1.5% each, while Hang Seng tumbled 2.5%.
Wall Street closed lower on Friday after Boston Fed President Eric Rosengren, a historically dovish policymaker, said the US central bank faced increasing risks if it waited too long to raise interest rates. The Dow Jones Industrial Average tanked 2.13% to 18,085, the S&P500 lost 2.45% to 2,127.
European stocks closed sharply lower after Wall Street stock indexes dropped and data showed Germany's exports fell in July.
Global markets are experiencing a free fall after worries of a rate hike by the US Fed were reignited when Boston Fed president Eric Rosengren warned of increasing risks if Fed waited too much longer to raise interest rates. North Korea meanwhile is in a defiant mode and ready to conduct yet another nuclear test.
The monsoon has disappointed towards the end with most parts of the country seeing below normal rainfall. Key macro data namely IIP and CPI inflation are scheduled to be released on Monday.
Announcements of ICICI Prudential Life Insurance IPO plans and Indiabulls Housing Finance public issue of NCDs are expected today. L&T Technology Services (LTTS) IPO is set to open today.
Four of the 10 most valued Indian companies together lost Rs.40,779.97 crore in market valuation last week. The market valuation of TCS plummeted by Rs.31,723.89 crore to Rs 4,63,543.17 crore, taking the steepest hit among the top-10 firms.
India's forex reserves increased by $989.5 million to an all-time high of $367.76, the Reserve Bank said on Friday. According to the bulletin, the reserves had touched an all-time high of $367.16 billion previously. Foreign currency assets (FCAs) swelled by $952.2 million to $342.23 billion for the week ended September 2.
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