The domestic stock market fell sharply on Monday amid a broad-based sell-off after the government said the Chinese troops 'carried out provocative military movements in Eastern Ladakh to change the status quo' but they were blocked by Indian soldiers. The incidents took place in between August 29-30 night.
Further, nervousness around Q1 GDP numbers, which is slated to be released later in the day, and new margin norms for brokers, too, dragged the market lower.
The S&P BSE Sensex declined 839 points or 2.13 per cent to settle at 38,628 levels. Of 30 constituents, 28 declined and just 2 advanced. Reliance Industries (RIL) was the biggest contributor to the index's loss, followed by ICICI Bank, and HDFC.
NSE's Nifty settled at 11,387.50, down 260 points or 2.23 per cent. India VIX jumped over 24 per cent to 22.84 levels.
Global markets
World stocks hovered near record highs on Monday and were set to end August with five consecutive months of gains, as investors bet on central banks keeping up the policy punchbowl for years to come.
An upbeat reading on China’s service sector added to the positive mood, with MSCI’s broadest index of Asia-Pacific shares outside Japan touching its highest since March 2018.
London was closed for a public holiday, while U.S. stock futures pointed to a positive open for Wall Street ESc1 1YMc1.
In commodities, oil rose with Brent touching the highest in five months, underpinned by a 30 per cent cut in Abu Dhabi crude supplies and encouraging Chinese data even as global demand struggles to return to pre-COVID levels in a well-supplied market.
(With inputs from Reuters)
CATCH ALL THE LIVE UPDATES
Auto Refresh
03:36 PM
CLOSING BELL
The S&P BSE Sensex tanked 839 points or over 2 per cent to settle at 38,628.29 while NSE's Nifty lost 260 points or 2.23 per cent to end at 11,387.50.
03:29 PM
RIL slips over 2%
03:18 PM
INDEX LOSER:: Sun Pharma slips over 6%
03:06 PM
MARKET CHECK
03:00 PM
Geopolitical tension, profit booking: 5 reasons why markets corrected today
India-China geopolitical tension: Rising political tension between India and China punctured the morning momentum on Monday. According to reports, the situation in Eastern Ladakh flared again on the intervening night of August 29/30 when troops of China's People's Liberation Army (PLA) violated the "previous consensus" arrived at during military and diplomatic engagements. Following the development, the Srinagar-Leh highway has been closed for civilians, reports suggest. READ MORE HERE
02:53 PM
Aug Auto Sales Expectations :: Nirmal Bang Institutional Equities
02:50 PM
Aug Auto Sales Expectations :: Motilal Oswal Finacial Services
02:45 PM
MARKET UPDATE:: India VIX surges 26%
02:41 PM
MARKET CHECK :: Sensex tanks nearly 1000 pts
02:35 PM
NEWS ALERT :: July eight core industries' growth comes in at -9.6% vs -12.9% MoM
No comments:
Post a Comment