The domestic market drop most since since September 29 after the minutes of the Fed meeting of last month showed several officials saying a rate hike was needed “relatively soon”.
The Sensex is trading below its crucial support level of 28,000, while Nifty breaks below its crucial support level of 8,650.
At 9:30 AM, the S&P BSE Sensex is trading at 27,835 down 247 points, while NSE Nifty is trading at 8,641 down 74 points.
The BSE Mid-cap Index is trading down 0.80% at 13,407 whereas BSE Small-cap Index is trading down 0.61% at 13,171.
Cipla, Infosys, ONGC and Hero MotoCorp are among the gainers, whereas RIL, ICICI Bank, M&M, HDFC, Tata Motors and HDFC Bank are losing sheen on BSE.
Some buying activity is seen in IT sector, while realty, banking, finance, utilities, auto and telecom are showing weakness on BSE.
The INDIA VIX is up 3.15% at 14.7350. Out of 1,841 stocks traded on the NSE, 1,031 declined, 391 advanced and 419 remained unchanged today.
A total of 39 stocks registered a fresh 52-week high in trades today, while nine stocks touched a new 52-week low on the NSE.
Asian markets opened flat after seeing huge gyrations in the last 3 days as strength in the US$ which hit 97.7 or a fresh 4 month high led to profit booking in equities. This along with rise in bond yields on the US 10 year treasury paper which hit 1.76% or also a 4 month high as odds of a Fed rate hike in December hit 68%. With uncertainty also rising on the US elections due on 8th November investors chose to raise cash & equities globally bore the brunt of the same.
Wall Street marginally higher after minutes of the last US Federal Reserve policy meeting indicated a December rate increase was still on the cards. The Dow Jones industrial average rose 15.54 points, or 0.09% to 18,144.2, the S&P 500 gained 2.45 points, or 0.11% to 2,139.18 and the Nasdaq Composite dipped 7.77 points, or 0.15% to 5,239.02.
Oil prices struggled after falling 1 percent overnight after the Organization of Petroleum Exporting Countries reported its output hit an eight-year high in September, offsetting optimism over the group's pledge to restrict output.
On the economy front, India’s Industrial production during August contracted by 0.7%, painting a bleak picture of economy. The decline in output is attributed to yet another contraction in capital goods. Output of capital goods declined by a steep 22.2%, registering de-growth for consecutive ten months. On cumulative basis, capital goods output has declined by 19% during the first eight months of this calendar year, when compared with growth of 8.5% during the same period in 2015. Growth in consumer durables slowed as well, impacting traction in consumer goods segment.
The Sensex is trading below its crucial support level of 28,000, while Nifty breaks below its crucial support level of 8,650.
At 9:30 AM, the S&P BSE Sensex is trading at 27,835 down 247 points, while NSE Nifty is trading at 8,641 down 74 points.
The BSE Mid-cap Index is trading down 0.80% at 13,407 whereas BSE Small-cap Index is trading down 0.61% at 13,171.
Cipla, Infosys, ONGC and Hero MotoCorp are among the gainers, whereas RIL, ICICI Bank, M&M, HDFC, Tata Motors and HDFC Bank are losing sheen on BSE.
Some buying activity is seen in IT sector, while realty, banking, finance, utilities, auto and telecom are showing weakness on BSE.
The INDIA VIX is up 3.15% at 14.7350. Out of 1,841 stocks traded on the NSE, 1,031 declined, 391 advanced and 419 remained unchanged today.
A total of 39 stocks registered a fresh 52-week high in trades today, while nine stocks touched a new 52-week low on the NSE.
Asian markets opened flat after seeing huge gyrations in the last 3 days as strength in the US$ which hit 97.7 or a fresh 4 month high led to profit booking in equities. This along with rise in bond yields on the US 10 year treasury paper which hit 1.76% or also a 4 month high as odds of a Fed rate hike in December hit 68%. With uncertainty also rising on the US elections due on 8th November investors chose to raise cash & equities globally bore the brunt of the same.
Wall Street marginally higher after minutes of the last US Federal Reserve policy meeting indicated a December rate increase was still on the cards. The Dow Jones industrial average rose 15.54 points, or 0.09% to 18,144.2, the S&P 500 gained 2.45 points, or 0.11% to 2,139.18 and the Nasdaq Composite dipped 7.77 points, or 0.15% to 5,239.02.
Oil prices struggled after falling 1 percent overnight after the Organization of Petroleum Exporting Countries reported its output hit an eight-year high in September, offsetting optimism over the group's pledge to restrict output.
On the economy front, India’s Industrial production during August contracted by 0.7%, painting a bleak picture of economy. The decline in output is attributed to yet another contraction in capital goods. Output of capital goods declined by a steep 22.2%, registering de-growth for consecutive ten months. On cumulative basis, capital goods output has declined by 19% during the first eight months of this calendar year, when compared with growth of 8.5% during the same period in 2015. Growth in consumer durables slowed as well, impacting traction in consumer goods segment.
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