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Posted at: Oct 12, 2018, 12:15 AM; last updated: Oct 12, 2018, 12:15 AM (IST)

Bloodbath on D-Street

Sensex crashes 760 pts, Nifty below 10,300 on global rout
Bloodbath on D-Street
pEOPLE WATCH DIGITAL SCREEN OF BSE IN MUMBAI THURSDAY. AFP

Mumbai, October 11

The BSE Sensex slumped over 750 points to end at a six-month low and NSE Nifty ended below the 10,300-mark today as global indices witnessed across-the-board losses after investor sentiment was hit by heavy sell-off in world markets.

The 30-share index cracked over 1,000 points, breaching the 34,000-mark and hit a low of 33,723.53 before staging a partial recovery to touch a high of 34,325.09 in afternoon trade. The gauge finally ended 759.74 points, or 2.19 per cent, lower at 34,001.15. This is the lowest closing since April 11. 

Similarly, the NSE Nifty settled at 10,234.65, down 225.45 points, or 2.16%. It moved between 10,138.60 and 10,335.95 in day trade.

“This sell-off is part of the global sell-off triggered by the sharp cut in the mother market US,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

This is leading to capital outflows from emerging markets (EMs) like India. Apart from the rising bond yield in the US and EM currency woes, there are global trade skirmishes impacting the sentiment, he added. “While most of the earlier fall could be attributed largely to domestic factors, the reason for Thursday’s fall is clearly global with the US markets falling sharply after President Trump’s acerbic comments against the Federal Reserve and the consequent sharp fall witnessed in all the major Asian markets,” said Dheeraj Singh, Head of Investments, Taurus AMC.

In an unprecedented criticism by a serving US President, Trump said the Federal Reserve had gone crazy after the Dow Jones Industrial Average in New York tumbled by over 800 points on Wednesday, the biggest decline in more than seven months. — PTI

Investor wealth plummets Rs 2.69 lakh crore

  • Investor wealth eroded by Rs 2.69 lakh crore on Thursday hit hard by massive sell-off in the equity market where the BSE benchmark index plummeted over 1,000 points in intra-day trade
  • Following the weak show by equities, the m-cap of BSE-listed companies witnessed an erosion of Rs 2,69,347 cr to Rs 1,35,70,402 cr. 
  • From the blue chip pack, 27 scrips ended with losses led by SBI and Tata Steel

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