Sensex sheds more than 3.6% following global sell-off; Nifty below 10,300 mark - Laughing-Colours.com

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February 6, 2018

Sensex sheds more than 3.6% following global sell-off; Nifty below 10,300 mark

Sensex sheds more than 3.6% following global sell-off; Nifty below 10,300 mark
As per latest reports, the BSE Sensex hit below the 34,000-mark by losing around 1,275 points or 3.6% during morning trade in today’s session owing to comprehensive losses after shareholder response witnessed a sell-off in global markets.
Broadening its losing trend for the sixth consecutive session, the 30-share index declined around 1,274.35 points, or 3.66%, to hit 33,482.81 mark.
All sectoral indices including real estate, consumer durables, metal and banking remained down.
The index had made a loss of 1,526 points during the earlier five trading sessions after its extraordinary 2,200-point profit during the last month.
In addition, the broad based NSE Nifty declined below 10,300 mark by declining 390.25 points, or 3.65% to hit 10,276.30.
Market response took a beating along the lines of spiky losses at other Asian zones following a record-breaking loss on Wall Street after shareholders fret over growing US borrowing rates, dealers added.
The US Dow showcased its deepest loss in history, shedding all of its 2018 increases, whilst the S&P 500 took a beating to sit-down strike for the year yesterday.
Asian stock markets accompanied the pessimistic trend with Tokyo shedding over 5%, Hong Kong 4% and Sydney 3%, Singapore 2.3%, Seoul 3%, Taipei 3.7%, and Shanghai 2.1%.
The grave profit booking zone was seen after months of profits fuelled by business incomes, worldwide view and hopefulness over the US financial system.
In domestic bourses, caution prior to RBI monetary plan gathering that starts later in the day and the Indian currency devaluating by 29 paise to reach 64.36 as compared to the US currency also diminished the response, brokers said.
Sturdy selling pressure dragged down all the Sensex and the Nifty constituents.
FIIs sold equities worth Rs 1,263.57 crore during February 05’s trading session, as per provisional data.
The laggards comprised Yes Bank, SBI, Asian Paint, Tata Motors, Adani Ports, ICICI Bank, Tata Steel, Axis Bank, IndusInd Bank, HDFC Bank, Maruti Suzuki, L&T and Hero MotoCorp, plunged by up to 7.55 per cent.

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