1. Sensex, Nifty likely to open in red tracking global cues

Sensex, Nifty likely to open in red tracking global cues

The BSE Sensex and NSE Nifty are like to open in red tracking SGX Nifty and other global markets.

By: | Published: August 21, 2015 8:40 AM
Sensex and Nifty

The Sensex and Nifty closed 323.82 points and 122.40 points lower at 27,607.82 and 8,372.75, respectively, on Thursday.

The BSE Sensex and NSE Nifty are like to open in red on Friday tracking SGX Nifty and other global markets.

At 8.12 am (IST), SGX Nifty was down 98 points, or 1.18 per cent, at 8,280.50.

Asian peers, Hang Seng, Nikkei and Shanghai were down 2.27 per cent, 2 per cent and 1 per cent at 22,241, 19,634 and 3,627.

The S&P 500 tumbled to a more than six-month low on Thursday on concern a decelerating Chinese economy will translate into slower global growth.

The Dow Jones Industrial Average fell 358.04 points, or 2.06 per cent, to 16,990.69, the S&P 500 lost 43.88 points, or 2.11 percent, to 2,035.73 and the Nasdaq Composite dropped 141.56 points, or 2.82 per cent, to 4,877.49.

The drops in the S&P 500 and Dow were the largest daily percentage declines since February 3, 2014, while the Nasdaq fell the most since April 10, 2014.

Back home, the Sensex and Nifty closed 323.82 points and 122.40 points lower at 27,607.82 and 8,372.75, respectively, on Thursday. Sector-wise, BSE realty index suffered the most by falling 4.13 per cent, followed by metal (2.39 per cent), banking (2.33 per cent), IT (2.27 per cent), PSU (2.04 per cent), infra (1.90 per cent), power (1.84 per cent), consumer durables (1.83 per cent) and capital goods (1.82 per cent).

Dipen Shah, head of private client group research, Kotak Securities, said, “Markets sold off by more than 1 per cent post the fall in global markets. The fall in crude price and expectations of a delay in US interest rate hikes did not have any positive impact on sentiments. Rupee also fell sharply in line with the equity markets. We believe that, with US rate hike likely delayed, the important trigger for markets will be the passage of the GST Bill. An early passage of the Bill will be a big positive and will also address one of the concerns of RBI, which may respond with a rate cut, despite concerns on monsoons and US rate hike still remaining.”

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