Indian stock markets fell over 1 per cent today. The BSE Sensex slipped below 24,000 and the Nifty broke 7,300 at day's low. The rupee too declined past 68 levels.
Here are top 10 updates:
1) Selling in domestic equities was triggered by global weakness. Japan's Nikkei index sank over 5 per cent following a selloff in European and US equities overnight. Global markets have been pressured by stability concerns of bank stocks.
2) Deutsche Bank alone sank 9.5 per cent as concerns mounted about its ability to maintain bond payments. Late Monday, the German bank said it has "sufficient" reserves to make due payments this year.
3) Indian equities were impacted to lesser extent than other global markets. An upward revision in India's GDP growth forecast for the current fiscal shielded Indian markets to some extent, analysts said.
4) The Sensex has lost over 7 per cent since the start of this year in tandem with a selloff in other major global markets. Concerns over global growth, uncertainty over Fed rate hike, plunge in oil prices and the weakening of the Chinese currency yuan have been blamed for the global selloff in risk assets like equities.
5) Heavy selling from foreign institutional investors has been weighing on Indian markets since the start of this year. FIIs sold over Rs 11,000 crore of Indian shares in January and so far this month have sold over Rs 600 crore worth of Indian equities.
6) Domestic institutional investors have been buying stocks, but the momentum is on the wane. According to the latest data, inflows into equity funds in January 2016 slowed to Rs 2,914 crore, the lowest since PM Narendra Modi won elections in May 2014.
7) Tuesday's selloff was led by by IT stocks. Index-heavyweights such as Infosys and TCS slumped more than 4 per cent following Cognizant Technology Solutions' weak revenue forecast. The BSE IT index plunged over 3 per cent. (Read here)
8) Banking and metal stocks, which have been under pressure for weeks, underperformed the broader markets.
9) Gold, which is perceived as a safe haven, has been a big beneficiary of the turmoil in global financial markets. Global gold prices have risen to its highest level since June last year. In India gold prices have surged close to Rs 28,000 per 10 grams.
10 Analysts say that if Nifty breaches the support level of 7,200, it could fall to 6,800 levels.
Here are top 10 updates:
1) Selling in domestic equities was triggered by global weakness. Japan's Nikkei index sank over 5 per cent following a selloff in European and US equities overnight. Global markets have been pressured by stability concerns of bank stocks.
2) Deutsche Bank alone sank 9.5 per cent as concerns mounted about its ability to maintain bond payments. Late Monday, the German bank said it has "sufficient" reserves to make due payments this year.
3) Indian equities were impacted to lesser extent than other global markets. An upward revision in India's GDP growth forecast for the current fiscal shielded Indian markets to some extent, analysts said.
4) The Sensex has lost over 7 per cent since the start of this year in tandem with a selloff in other major global markets. Concerns over global growth, uncertainty over Fed rate hike, plunge in oil prices and the weakening of the Chinese currency yuan have been blamed for the global selloff in risk assets like equities.
5) Heavy selling from foreign institutional investors has been weighing on Indian markets since the start of this year. FIIs sold over Rs 11,000 crore of Indian shares in January and so far this month have sold over Rs 600 crore worth of Indian equities.
6) Domestic institutional investors have been buying stocks, but the momentum is on the wane. According to the latest data, inflows into equity funds in January 2016 slowed to Rs 2,914 crore, the lowest since PM Narendra Modi won elections in May 2014.
7) Tuesday's selloff was led by by IT stocks. Index-heavyweights such as Infosys and TCS slumped more than 4 per cent following Cognizant Technology Solutions' weak revenue forecast. The BSE IT index plunged over 3 per cent. (Read here)
8) Banking and metal stocks, which have been under pressure for weeks, underperformed the broader markets.
9) Gold, which is perceived as a safe haven, has been a big beneficiary of the turmoil in global financial markets. Global gold prices have risen to its highest level since June last year. In India gold prices have surged close to Rs 28,000 per 10 grams.
10 Analysts say that if Nifty breaches the support level of 7,200, it could fall to 6,800 levels.
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