Explorer

Share market update: Sensex logs biggest fall since Feb, bleeds over 800 pts; Nifty slips below 10,500

Domestic benchmark indices BSE Sensex and NSE’s Nifty 50 opened in red in early trade on Friday ahead of RBI’s three-day policy review meeting which is scheduled to start today.

Domestic benchmark indices BSE Sensex and NSE’s Nifty 50 opened in red in early trade on Friday ahead of RBI’s three-day policy review meeting which is scheduled to start today. The S&P BSE Sensex opened at 35,097.99 and the Nifty50 index of the National Stock Exchange (NSE) at 10,514.10. After slipping over 300 points in early trade, the Sensex traded at 35,031.89, down 137.27 points or 0.39 per cent. Even 50-share Nifty plunged over 150 points and traded at 10,528.05, with a loss of 71.20 points or 0.67 per cent. According to reports more than 30 stocks of Nifty traded with losses. The Indian rupee opened marginally lower on Friday morning, but soon managed to recover and was trading little strong against the US dollar. The Indian rupee earlier on Thursday sunk to its fresh low of 73.77 to a dollar, as global crude oil prices continued to climb. India imports nearly 80 per cent of its crude requirements, and a higher price will potentially worsen the current account deficit of Asia's third-largest economy. Today RBI, in its policy review meeting, will unveil its monetary policy where the central bank is likely to raise the repurchase rate by 25 basis points. The repo rate currently stands at 6.5 per cent. According to reports, shares of Oil Marketing Companies (OMCs) moved upwards by up to 26 per cent in the opening trade. However, ONCG witnessed a steep fall of 13 per cent in early morning trade deals. Other top losers were HUL, Reliance Industries, ITC, HDFC twins and Hero MotoCorp. Meanwhile, in the global markets, Asian shares were fragile after benchmark U.S. Treasury yields surged to a seven-year high and strong economic data fanned concerns about inflation and the risk of faster-than-expected interest rate rises, a report by rews agency Reuters stated. Even the oil prices rose on Friday, as traders focused on US sanctions against Iran's crude exports that are set to start next month to tighten global markets. The development comes soon after the government on Thursday announced a Rs 2.50 per litre cut in petrol and diesel prices by reducing excise duty and asking PSU oil firms to take a hit of Rs 9,000 crore.
View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

Delhi Confirms Receiving Diplomatic Note From Dhaka Over Ex-PM Sheikh Hasina's Extradition
Delhi Confirms Receiving Diplomatic Note From Dhaka Over Ex-PM Sheikh Hasina's Extradition
Legendary Filmmaker Shyam Benegal Passes Away At 90
Legendary Filmmaker Shyam Benegal Passes Away At 90
PM Modi On Germany Christmas Market Attack: ‘Pains My Heart When There Are Attempts To Spread Violence’
PM Modi On Germany X-Mas Market Attack: ‘Pains My Heart When There Are Attempts To Spread Violence’
Video: Haryana Minister Anil Vij Suspends Cop After Sobbing Woman Complains: 'Who Are You To Stop FIR?'
Video: Haryana Minister Anil Vij Suspends Cop After Sobbing Woman Complains: 'Who Are You To Stop FIR?'
Advertisement
ABP Premium

Videos

Sambhal News: Two New Corridors Found in Ancient Stepwell Excavation in ChandausiLucknow Police Encounters Robbers, Arrests Trio Involved in Bank Heist, One InjuredSambhal Stepwell Excavation: Truth to be Revealed, Major Discoveries Await - ABP NewsProtests Outside Allu Arjun's House Over 'Pushpa 2' Stampede Incident, Accused Granted Bail

Photo Gallery

Embed widget