1. BSE Sensex plunged over 380 points to close at 25,765.14, NSE Nifty slid to 7,929.10

BSE Sensex plunged over 380 points to close at 25,765.14, NSE Nifty slid to 7,929.10

The Benchmark BSE Sensex opens in negative, was trading 11.48 points down at 26,138.76, NSE Nifty was down by 0.11% at 8,065.10.

By: | New Delhi | Updated: November 21, 2016 3:39 PM
BSE Sensex, NSE Nifty The Benchmark BSE Sensex opens in negative, was trading 11.48 points down at 26,138.76, NSE Nifty was down by 0.11% at 8,065.10. (Reuters)

3:33 PM: BSE Sesnsex was down by over 380 points down to close at 25,765.14, NSE Nifty slid to under 8,000 first since June, 2016 to settle at 7,929.10.

3:24 PM: BSE Sesnsex was down by over 350 points down at 25,792.35, NSE Nifty slid to 7,935.95, first since June, 2016.

3:18 PM: BSE Sesnsex was down by close to 400 points down at 25,769.75, NSE Nifty slid to 7,931.25, first since June, 2016.

3:13 PM: BSE Sesnsex was down by close to 400 points down at 25,755.17, NSE Nifty slid to 7,925.80.

3:00 PM: BSE Sesnsex was down over 400 points down at 25,816.04, NSE Nifty slid to 7,930.75.

2:49 PM: BSE Sesnsex was still down close to 340 points at 25,816.04, NSE Nifty slid to 7,945.25.

2:40 PM: BSE Sesnsex was trading close to 340 points down at 25,811.94, NSE Nifty at 7,950.90.

2:11 PM: BSE Sesnsex continued to plunge as it was trading close to 400 points down at 25,752.86, NSE Nifty at 7,934.45.

2:00 PM: BSE Sesnsex continued to plunge as it was trading over 365 points down at 25,782.47, NSE Nifty at 7,944.75.

1:50 PM: BSE Sesnsex continued to plunge as it was trading over 360 points down at 25,784.31, NSE Nifty at 7,953.45.

1:16 PM: BSE Sesnsex continued to stay low as it was trading over 250 points down at 25,897.11, NSE Nifty at 7,976.25.

1:00 PM: BSE Sesnsex continued to stay low as it was trading over 330 points down at 25,820.08, NSE Nifty at 7,957.70.

12:50 PM: BSE Sesnsex continued to slide as it was trading over 330 points down at 25,819.16, NSE Nifty at 7,954.05.

12:40 PM: BSE Sesnsex continued to slide as it was trading over 320 points down at 25,827.84, NSE Nifty at 7,958.80.

12:10 PM: The Benchmark BSE Sensex was still trading over 300 points down at 25,845.58, NSE Nifty was down by 1.30% at 7,969.00 at early morning trade.

11:45 AM: BSE Sensex surrendered its initial gains to quote below the psychological 26,000-level, plunging over 300 points, and Nifty crashed below the key 8,000-mark due to heavy selling pressure amid mixed Asian cues. Barring IT and Teck, sell-off was seen in most of the sectors led by realty, financials, banks, auto, industrials, basic materials, capital goods, consumer durables, FMCG, metal, power, utilities and healthcare. Uncertainty reverted at stock momentum on sustained capital outflows in the midst of US interest rate hike worries and cash crunch over government demonetisation drive to curb black money hovered the sentiment.

11:35 AM: The Benchmark BSE Sensex was still trading over 300 points down at 25,847.99, NSE Nifty was down by 1.36% at 7,964.60 at early morning trade.

11:23 AM: The Benchmark BSE Sensex was still trading over 340 points down at 25,808.76, NSE Nifty was down by 1.51% at 7,951.95 at early morning trade.

10:56 AM: The Benchmark BSE Sensex was still trading close to 330 points down at 25,822.09, NSE Nifty was down by 1.42% at 7,959.55 at early morning trade.

10:20 AM: The Benchmark BSE Sensex was still trading over 130 points down at 26,015.66, NSE Nifty was down by 0.69% at 8,018.30 at early morning trade.

10:05 AM: The Benchmark BSE Sensex was trading over 175 points down at 25,974.60, NSE Nifty was down by 0.79 per cent at 8,010.50 at early morning trade.

9:58 AM: According to a report, brokers said value-buying in recently beaten-down blue-chips along with covering-up of short positions by speculators influenced trading sentiments.

9:45 AM: The Benchmark BSE Sensex was trading 62.15 points down at 26,088.09, NSE Nifty was down by 0.29% at 8,051.00 at early morning trade.

9:34 AM: The Benchmark BSE Sensex was trading 57.19 points down at 26,093.05, NSE Nifty was down by 0.28% at 8,051.80 at early morning trade.

OPENING BELL

The Benchmark BSE Sensex opened in negative, was trading 11.48 points down at 26,138.76, NSE Nifty was down by 0.11% at 8,065.10.

PRE-MARKETS

Asian shares were on the defensive on Monday, undermined by fears that the strength in the US dollar and rising US bond yields since Donald Trump’s election to president could accelerate fund outflows from emerging markets. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.1 per cent, staying near four-month lows. Japan’s Nikkei rose 0.3 per cent as the yen continued to slip against the dollar. Trump’s unexpected election victory has led to a major repricing of assets, with investors rushing to buy US stocks and the dollar, while dumping bonds and emerging market assets. Carrying out even some of his plans for deregulation and tax cuts would undermine assumptions investors had long held – that the US economy would grow modestly and inflation would remain tame in the foreseeable future.

Trump’s protectionism could hurt many of US trade partners, including emerging markets which could see decline in exports to the US. To be sure, investors have little idea to what extent Trump can implement his proposals, including slapping tariffs on major trading partners such as China and Mexico and heavy tax cuts that would widen the US fiscal deficit. It last stood at 2.353 percent, with a rise above its 2015 peak of 2.5 percent seen as having potential to spark a further sell-off as bond prices fall. Higher US yields are helping the dollar continue its bull run. The US unit rose to as high as 111.125, its highest level since early June. It last stood at 110.865. It has risen almost 10 per cent from its low of 101.19 hit on Nov 9, when markets initially took Trump’s victory will trigger a rush to safer assets such as the yen. The euro traded $1.0589, having hit a near one-year low of $1.0569 on Friday. The Australian dollar hit 4 1/2-month low of $0.7315.

The benchmark BSE Sensex dipped by 77 points or 0.30 percent to finish the day at 26,150.24 on Friday. Nifty closed at 8,074.10. It fall by 5.85 points or 0.07 percent. On Thursday, the BSE index was down 26,228. Nifty to dipped at below the key 8,100-level. Sentiments also took a hit on sustained foreign capital outflow from emerging markets, including India, and the dollar rising to its highest mark in over 13 years.

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