Markets pare previous day gains Sensex tanks 496 points in early trade
Mumbai Apr 27 PTI Equity markets tumbled on Wednesday after a sharp rebound in the previous trade with the Sensex falling 496 points in early trade tracking weak global trends Unabated foreign fund outflows and selling in index majors Infosys and Bajaj Finance also played spoilsport The roller coaster ride in markets is set to continue in the near-term With the 395 per cent sell-off yesterday Tuesday Nasdaq is now 23 per cent down from its record highs and therefore can be said to be in bear market territory The real worry for markets now is a possible sharp global slowdown triggered by the coming aggressive monetary tightening in the US severe Covid-related lockdowns in China and woes in the Euro Zone caused by the Ukraine war said V K Vijayakumar Chief Investment Strategist at Geojit Financial Services The 30-share BSE benchmark was trading 49577 points lower at 5686084 The NSE Nifty dipped 14415 points to 1705665 From the 30-share Sensex pack Bajaj Finance Bajaj Finserv UltraTech Cement Infosys MM Wipro Maruti and Titan were the major laggards in early trade In contrast NTPC Tata Steel Reliance Industries Sun Pharma Power Grid and HDFC were the gainers Asian markets were trading on a mixed note in mid-session deals with Tokyo and Seoul quoting over 1 per cent lower while Hong Kong and Shanghai trading marginally higher Stocks in the US had ended significantly lower on Tuesday The Sensex jumped 77672 points or 137 per cent to end at 5735661 on Tuesday The Nifty rallied 24685 points or 146 per cent to 1720080 Meanwhile international oil benchmark Brent crude gained 05 per cent to USD 10542 per barrel Foreign institutional investors continued their selling spree offloading shares worth Rs 117405 crore on Tuesday according to stock exchange data PTI SUM SUM ANU ANU
Mumbai Apr 27 PTI Equity markets tumbled on Wednesday after a sharp rebound in the previous trade with the Sensex falling 496 points in early trade tracking weak global trends Unabated foreign fund outflows and selling in index majors Infosys and Bajaj Finance also played spoilsport The roller coaster ride in markets is set to continue in the near-term With the 395 per cent sell-off yesterday Tuesday Nasdaq is now 23 per cent down from its record highs and therefore can be said to be in bear market territory The real worry for markets now is a possible sharp global slowdown triggered by the coming aggressive monetary tightening in the US severe Covid-related lockdowns in China and woes in the Euro Zone caused by the Ukraine war said V K Vijayakumar Chief Investment Strategist at Geojit Financial Services The 30-share BSE benchmark was trading 49577 points lower at 5686084 The NSE Nifty dipped 14415 points to 1705665 From the 30-share Sensex pack Bajaj Finance Bajaj Finserv UltraTech Cement Infosys MM Wipro Maruti and Titan were the major laggards in early trade In contrast NTPC Tata Steel Reliance Industries Sun Pharma Power Grid and HDFC were the gainers Asian markets were trading on a mixed note in mid-session deals with Tokyo and Seoul quoting over 1 per cent lower while Hong Kong and Shanghai trading marginally higher Stocks in the US had ended significantly lower on Tuesday The Sensex jumped 77672 points or 137 per cent to end at 5735661 on Tuesday The Nifty rallied 24685 points or 146 per cent to 1720080 Meanwhile international oil benchmark Brent crude gained 05 per cent to USD 10542 per barrel Foreign institutional investors continued their selling spree offloading shares worth Rs 117405 crore on Tuesday according to stock exchange data PTI SUM SUM ANU ANU
