Sensex Trades Over 800 Points Lower On Global Rout: 10 Things To Know
- Twenty eight out of 30 Sensex stocks and 40 out of 50 Nifty shares were in the negative.
- Tata Steel, State Bank of India (SBI), Infosys, Mahindra and Mahindra, and Tata Consultancy Services (TCS) were the top five Sensex losers.
- Heavyweights HDFC, Infosys, HDFC Bank, SBI and TCS led the fall in the Sensex.
- "The global sell-off had an impact on the domestic markets. There is also a fear of rising interest rates. Macro fundamentals are also bad. All this has hurt the investor sentiment," said AK Prabhakar, Head of Research at IDBI Capital.
- On the NSE, all sectoral indices traded with losses. The Nifty PSU Bank ( index of state-run banks) and the Nifty Metal (the index of metal stocks) fell the most losing 4.56 per cent and 4.01Â per cent respectively. Â
- Experts advised traders to remain cautious. "Volatility indecisiveness prevails in the market and not only global but also domestic dynamics are causing doubts in the minds of investors...the investors are advised to remain cautious as volatility may prevail in markets," said Ritesh Ashar, Chief Strategy Officer, KIFS Trade Capital.
- According to provisional data available with the National Stock Exchange (NSE), foreign portfolio investors sold net equities worth Rs 1,096.05 crore on Wednesday.
- In the currency market, the rupee hit a fresh all-time low of 74.48 against the US dollar strong demand for the greenback and sustained capital outflows.
- In global markets, MSCI's broadest index of Asia-Pacific shares outside Japan shed 2.7 per cent to its lowest in 18 months. Japan's Nikkei fell 3.4 per cent, the steepest daily drop since March, while the broader TOPIX lost around $195 billion in market value. Shanghai shares touched their lowest since late 2014, while China blue chips slid 3 per cent, according to a report by news agency Reuters.
- On Wall Street, the S&P500's sharpest one-day fall since February wiped out around $850 billion of wealth as technology shares tumbled on fears of slowing demand. The S&P 500 ended Wednesday with a loss of 3.29 per cent and the Nasdaq Composite 4.08 per cent, while the Dow shed 2.2 per cent. The blood letting was bad enough to attract the attention of US President Donald Trump, who pointed an accusing finger at the Federal Reserve for raising interest rates. "I really disagree with what the Fed is doing," Mr Trump said. "I think the Fed has gone crazy." (With Reuters inputs)
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Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
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Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
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Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
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Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
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AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
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Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
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The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
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Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
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Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
