India’s stock benchmark fell for a sixth straight session on Tuesday, tracking weaker global equities. The benchmark BSE Sensex slumped more than 1,000 points to hit a session low of 56,410, while the broader NSE Nifty slumped more than 300 points to hit a session low of 16,837. Both indices partially recovered from initial losses but remained in the red in early trade amid a highly volatile session. Asian shares and U.S. futures tumbled after overnight turmoil on Wall Street, with investors jittery about the situation in Ukraine and focusing on the Federal Reserve amid fears of global monetary tightening.
Here’s Your 10-Point Cheatsheet To This Big Story:
- Back home, as of 10:50 am, the 30-share Sensex pack was down 505 points or 0.88 per cent at 56,987, and the broader NSE Nifty fell 130 points or 0.76 per cent to 17,019.
- Mid- and small-cap shares were in the negative zone as Nifty Midcap 100 index fell 1.19 per cent and small-cap shares were trading 1.06 per cent lower.
- On the stock-specific front, Asian Paints was the top Nifty loser as the stock cracked 3.19 per cent to ₹ 3,054.60. Wipro, Divi’s Lab, L&T and Britannia were also among the laggards in opening deals.
- The overall market breadth was weak as 664 shares were advancing while 2,057 were declining on BSE.
- On the 30-share BSE platform, Asian Paints, Wipro, Kotak Mahindra Bank, HDFC twins (HDFC and HDFC Bank) and Reliance Industries attracted the most losses with their shares sliding as much as 3.13 per cent.
- Ukraine tensions: The North Atlantic Treaty Organization (NATO) said it was putting forces on standby and reinforcing eastern Europe with more ships and fighter jets, in what Russia denounced as Western “hysteria” in response to its build-up of troops on the Ukraine border.
- Fed announcement: The Federal Reserve will begin its two-day meeting later in the day, with investors starting to speculate that there is a small possibility that they will announce a surprise rate hike.
- Sensex had crashed 1,546 points or 2.62 per cent to close at 57,492 on Monday, while the broader NSE Nifty settled 468 points or 2.66 per cent lower at 17,149.
- It was the biggest single-session fall for both Sensex and Nifty since November 26.
- Over the last five sessions, the 30-share Sensex has tumbled 3,817.4 points or 6.22 per cent.
Complete News Source : NDTV
