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Sensex Falls 200 Points And Nifty 50 below 17,800

Last Updated: February 06, 2023, 10:37 IST

A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai. (File photo/Reuters)

A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai. (File photo/Reuters)

Meanwhile, Asian shares slipped on Monday after a run of upbeat economic data from the United States and globally lessened the risk of recession,

Equity benchmark Sensex declined more than 200 points in early trade on Monday, tracking losses in index-heavyweights Infosys, TCS and HUL amid a broadly negative trend in global markets.

Besides, a weak rupee against major rivals dented the domestic equity market sentiments, traders said.

The 30-share BSE index was trading 203.71 points or 0.33 per cent lower at 60,638.17 points in initial deals. Similarly, the broader NSE Nifty slipped 64.05 points or 0.36 per cent to 17,790 points.

Infosys was the top loser in the Sensex pack, shedding 1.31 per cent, followed by HUL, Sun Pharma, Nestle India, HCL Tech, Kotak Bank and TCS.

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On the other hand, Axis Bank, SBI, ITC, L&T, IndusInd Bank, Tata Motors, Bajaj Finserv and HDFC Bank were among the gainers.

On Friday, the Sensex surged 909.64 points or 1.52 per cent to settle at 60,841.88 points while the Nifty advanced 243.65 points or 1.38 per cent to end at 17,854.05 points.

Elsewhere in Asia, bourses in Hong Kong, Shanghai and Seoul were trading with losses in mid-session deals while Tokyo market was in the positive territory on Monday.

The Wall Street ended lower on Friday.

Meanwhile, international oil benchmark Brent crude rose 0.25 per cent to USD 80.14 per barrel.

Foreign Institutional Investors (FIIs) were net sellers in capital markets as they offloaded shares worth Rs 932.44 crore on Friday, according to exchange data.

Meanwhile, Asian shares slipped on Monday after a run of upbeat economic data from the United States and globally lessened the risk of recession, but also suggested interest rates would have to rise further and stay up for longer, mews agency Reuters reported.

The dollar extended its rally on the yen to a three-week top of 132.60 on Monday amid reports the Japanese government had offered the job of central bank governor to the current deputy, Masayoshi Amamiya.

In equity markets, MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.5%, with South Korea down 0.6%. Chinese blue chips lost 1.0%.

Japan’s Nikkei added 1.1%, encouraged by hopes the BOJ would keep policy easy.

S&P 500 futures and Nasdaq futures eased 0.2% as the stellar January payrolls report forced investors to price in the risk of more hikes from the Federal Reserve, and less chance of cuts later in the year.

(With inputs from PTI)

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