Finance
After US data reinforced fears of a prolonged high-interest rate regime, Indian shares fell on Monday, with the benchmark Nifty falling below a key long-term average intraday for the first time in over four months.
The Nifty 50 index fell 73 points to 17,392, finishing below 17,400. The S&P BSE Sensex fell 175 points to end the day at 59,288. For the first time since early October, the 50-share NSE index fell below its 200-day moving average of 17,376.21 intraday.
The Bank Nifty managed to close above 40,300. The top gainers on the Nifty 50 were ICICI Bank (up 2.17%), Power Grid (up 2.16%), Kotak Bank (up 1.80%), HDFC Life (up 1.58%) and State Bank of India (up 1.24%) while Adani Enterprises (down 9.74%), Bajaj Auto (down 5.32%), UPL (down 4.10%), Tata Steel (down 2.96%) and Infosys (down 2.58%) were the losers.
Indian stock market
The NSE Nifty 50 fell 73.10 pts or 0.42% to 17,392.70 and BSE Sensex dipped 175.58 pts or 0.30% to 59,288.35. Sectoral indices ended mixed with Bank Nifty rising 397.70 pts or 1% to close at 40,307.10. Nifty Auto dipped 1.51%, Nifty IT dropped 1.95%, Nifty Metal plunged 2.39% while Nifty Realty climbed 2.18%.
US Markets
The US markets ended Friday’s session in the red territory with Dow Jones Industrial Average tanking 1.02%, S&P 500 slipping 1.05% and the tech-heavy Nasdaq sinking 1.69%.
Asian Markets
Asian markets closed marginally in the red on Monday. China’s Shanghai Composite Index fell 0.28%, South Korea’s KOSPI dipped 0.87%, Japan’s Nikkei 225 slipped 0.11% and Hong Kong’s Hang Seng tumbled 0.33%.
Source:FE
