Sunday, 27 May, 2018

Sensex, Nifty, rupee down on global rout

Amid sell-off Rs 4.95 lakh crore investor wealth vanishes Amid sell-off Rs 4.95 lakh crore investor wealth vanishes
Kelvin Reese | 07 February, 2018, 01:00

The broader NSE Nifty and the benchmark BSE Sensex each fell as much as 3.7 percent, heading for a sixth consecutive session of falls, with both erasing their gains for the year. That was more than $4 below their high-point for 2018, hit last month, a Reuters report said.

Major loser were Tata Motors 5.19 per cent, Axis Bank 4.78 per cent, Tatamtrdvr 4.16 per cent, Yes Bank 4.08 per cent and HUL 3.65 per cent. It opened at Rs. 64.35 per dollar as against Rs. 64.06 on Monday.Earlier in the day, the Dow Jones Industrial Average fell 1,175.21 points to 24,345.75. Tata Motors fell 10 per cent in opening trade.

At 12:22 pm: BSE Sensex is still over 1,000 points down. Post the Union Budget on February 1, the 30-share index has plummeted by 2,164.11 points. "There was only minimal disruption on day 1", said Finance Secretary Hasmukh Adhia.

The mayhem at the Dalal street occured over tracking sharp losses in other Asian markets which was driven by a record-loss on Wall Street after investor worries peaked over rising USA borrowing costs.

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In dramatic slow motion. "We aren't out of the woods yet, but there are steps everyone can take to fight the flu ", Shuchat said. But now the video has spread, like the flu, across the country with over 5 million views and counting.

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Scotland steadied themselves but could not penetrate a resolute rearguard from Wales , who took a 14-0 lead into the interval. A driven lineout, pick-and-gos, and Halfpenny had a second try, and made a third conversion from the sideline.

The government has said that not the Budget, but global disturbances are to be blamed for the market crash.

"What happened on 2nd Feb & 5th Feb was mainly because of global shakeup".

Stock market bloodbath has wiped out a staggering Rs 9.6 lakh crore from investor wealth in three days with the rout continuing amid sell-off in world markets.

Out of 2,018 stocks traded on the NSE, 304 advanced, 1,448 declined and 266 remained unchanged today. It hit a almost three-month low of $6,000 (Rs. 3.8L). The Dow Jones Industrial Average, the benchmark U.S. index, fell off a cliff on Monday, posting its biggest intraday point-decline ever in the history of American capital markets since 2011. On Monday, Wall Street recorded its biggest decline since 2008. Among IT stocks, HCL Technologies (down 3.46%), Tech Mahindra (down 3.35%), TCS (down 3.16%), Infosys (down 2.25%), Oracle Financial Services Software (down 1.84%) and Wipro (down 0.97%) edged lower.

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