Domestic indices cut some losses but settled in the red on Monday. The NSE Nifty 50 closed below 17,000, BSE Sensex below 57,650 and Bank Nifty below 39,340. The top gainers on the Nifty 50 were Hindustan Unilever Ltd, BPCL, ITC, Grasim and Kotak Bank while the top losers were Bajaj Finserv, Adani Enterprises, Bajaj Finance, Hindalco and Tata Steel. “The fear of contagion of the financial crisis has kept investors away from the equity markets as the global market faces numerous hurdles. Despite Swiss regulators’ intervention to protect the global financial system, investor sentiment remained shaky. The market is now awaiting the outcome of the Fed meeting to see how they will respond to the ongoing crisis, particularly in terms of rate hikes. Investors expect the central bank to raise interest rates by 0–25 basis points,” said Vinod Nair, Head of Research at Geojit Financial Services.
Indian stock market
The NSE Nifty 50 plunged 111.65 pts or 0.65% to 16,988.40, BSE
Asian Markets
Asian markets concluded Monday’s session deeply in the red territory. Hong Kong’s Hang Seng tanked 2.65%, South Korea’s KOSPI fell 0.69%, Japan’s Nikkei 225 tumbled 1.42% and China’s Shanghai Composite index plunged 0.48%
US Markets
The US market ended Friday’s session broadly in red with major indices falling over 1%. The Dow Jones Industrial Average tanked 1.19%, S&P .500 sank 1.10% and the tech-heavy Nasdaq plunged 0.74%.
Rupee movement
The Indian rupee depreciated 0.11% to 82.63 against the US dollar at 3:30 PM (IST).
Gold, Silver
Gold futures for April delivery were up 396 points or 0.67% at Rs 59,779 at 3:30 PM (IST) while Silver futures on the multi-commodity exchange for May delivery were trading at Rs 69,041, up 540 pts or 0.79%.
Crude oil
WTI Crude futures for April delivery were down 3.12% at $64.63 while Brent Crude futures for May delivery were trading 3.04% lower at $70.75 at 3:45 PM (IST).