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Sensex, Nifty Today: The equity benchmark indices on the BSE and National Stock Exchange (NSE) fell for the second straight session, ending nearly 1.5 per cent lower on Monday weighed by financial stocks amid weakness in the global market.
The S&P BSE Sensex crashed 872.28 points (1.46 per cent) to end at 58,773.87 while the Nifty 50 slumped 267.75 points (1.51 per cent) to settle at 17,490.70. Both the indices had opened over 0.6 per cent lower earlier in the day and extended losses as the session progressed with the BSE benchmark hitting an intraday low of 58,705.11 and the broader Nifty hitting 17,467.35.
On the Sensex pack, Tata Steel, Asian Paints, Larsen & Toubro (L&T), Wipro, UltraTech Cement, Bajaj twins – Bajaj Finance and Bajaj Finserv, Tech Mahindra, Kotak Mahindra Bank, Sun Pharmaceutical Industries, Axis Bank, ICICI Bank and State Bank of India (SBI) were the top losers on Monday. Only ITC and Nestle India managed to end on a positive note.
All the sectoral indices on NSE ended in a sea of red. The Nifty Metal index crashed 2.98 per cent, the Nifty Realty index tanked 2.51 per cent, Nifty PSU Bank declined 2.12 per cent, Nifty Financial Services slipped 1.94 per cent and Nifty IT fell 1.86 per cent.
Global Market (from Reuters)
Shares slipped on Monday and the dollar extended its climb amid angst over global growth as most central banks keep raising rates, while a modest easing by China served only to highlight troubles in its property market.
US Federal Reserve Chair Jerome Powell headlines a host of policy makers at Jackson Hole later in the week and the risks are that he will not meet investor hopes for a dovish pivot on policy.
The STOXX index of Europe’s 600 biggest stocks fell 0.97 per cent on Monday with major regional markets in the red, as investors fretted about hawkish signals from European Central Bank policymakers.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell a further 0.9 per cent, though Chinese blue chips did manage to gain 0.7 per cent. South Korea’s KOSPI shed 1.2 per cent while Japan’s Nikkei fell 0.5 per cent, though it has drawn support from the recent sharp reversal in the yen.
US markets looked set to follow the bearish tone, with S&P 500 futures down 1 per cent and Nasdaq futures falling 1.35 per cent.
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