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Market Live: Sensex recovers some losses, but still down over 850 points, Nifty trades around 10,200

11 Oct 2018 : 01:52 Comments: 0 Views: 
Posted by Webmaster

Selloff is seen across sectors, with maximum pain visible in metals, automobiles, banks, and pharmaceuticals, among others.

Market opens It is a gap down opening on D-Street on Thurdsay as global sell-off weighed on Indian indices. The Nifty gave up 10,200 in the opening minutes.

The Sensex has tanked over 900 points, while the Nifty is down over 300 points.

The Sensex is down 927.62 points or 2.67% at 33833.27, while the Nifty is lower 300.20 points or 2.87% at 10159.90. The market breadth is negative as 56 shares advanced, against a decline of 338 shares, while 3,006 shares were unchanged.

Among sectors, there’s selloff across sectors, with maximum pain visible in metals, automobiles, banks, and pharmaceuticals, among others. The midcap index is down 4 percent.

Top losers on the Sensex and Nifty include Yes Bank, Vedanta, Indiabulls Housing and Bajaj Finance.

Rupee Update: The Indian rupee touched a fresh record low of 74.46 per dollar on Thursday. It opened lower by 10 paise at 74.30 per dollar versus previous close 74.20.

Crude Update: Oil prices fell to two-week lows on Thursday as they extended big losses from the previous session amid a rout in global stock markets, with oil also taking a hit from an industry report showing US crude inventories rose more than expected, reported Reuters.

Supply worries also eased as Hurricane Michael likely spared oil assets from significant damage as it smashed into Florida, even as it caused at least one death, injuries and widespread destruction.

SGX Nifty: SGX Nifty down 277.50 points or 2.65 percent. Nifty futures were trading around 10,202.50 -level on the Singaporean Exchange.

Gold Update: Gold prices edged higher on Wednesday as some investors sought refuge in the precious metal after the global stocks tumbled and the US dollar weakened, reported Reuters.

Spot gold rose 0.4 percent to USD 1,194.12 per ounce. U.S. gold futures settled up USD 1.9, or 0.16 percent, at USD 1,193.4.

Global currency update: The dollar was steady against a basket of currencies on Thursday after spooked investors drove US stocks to their worst fall in nearly eight months overnight.

The dollar index, a gauge of its value against six major currencies, fell 0.11 percent to 95.407 on Thursday, after hitting a high of 95.79 in the previous session.

The safe-haven yen strengthened to 112.25 against the dollar, its highest this month, taking heart from risk aversion in the wake of warnings from the IMF over global growth and financial stability.

Asia trades weak: Asian share markets sank on Thursday after Wall Street suffered its worst drubbing in eight months, a conflagration of wealth that could threaten business confidence and investment across the globe.

It also raised the stakes for US inflation figures due later on Thursday as a high outcome would only stoke speculation of more aggressive rate hikes from the Federal Reserve.

SGX Nifty: Trends on SGX Nifty indicate a weak opening for the broader index in India, a fall of 239.50 points or 2.29 percent. Nifty futures were trading around 10,240.50-level on the Singaporean Exchange.

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