Indian stock markets tank, Asian markets exhibit weak trend

New Delhi, News Nation Bureau | Updated : 26 September 2016, 04:29 PM
Bombay Stock Exchange - File Photo (Getty)
Bombay Stock Exchange - File Photo (Getty)

The BSE Sensex ended with a loss of 374 points at 28,294. The BSE Sensex opened at 28,631 touched an intra-day high of 28,630.92 and low of 28,272.

The NSE Nifty closed with a loss of 109 points at 8,723. The NSE Nifty opened at 8,808 hitting a high of 8,810 and low of 8,715.The Sensex fell by over 370 points on Monday owing to the weakness in their Asian peers. Investors in the Asian markets have shifted their focus from central banks to American politics.

The Nifty50 fell below its crucial support level of 8,750. The downfall were driven by losses in IT, realty, power, metals, capital goods, consumer durables, and auto and telecom stocks.
Active buying activity was seen in energy, oil & gas and metal sectors, while telecom, banking, auto, FMCG, finance and industrial sectors showcased weakness on BSE.
The rupee opened lower 12 paise at 66.77/$ against US Dollar Monday as against the previous close of 66.65/$.

Asian markets retreated in the morning as safe haven assets gained ground. Shanghai Composite and Nikkei 225 are in red. Wall Street closed lower. S&P 500 lost 0.57% to 2,164 points, on selling in energy stocks. Investors awaited Monday evening's US presidential debate between Donald Trump and Hillary Clinton, which will take place early on Tuesday in Asian time zones.

Investors have been anxiously awaiting the upcoming monetary policy review on October 4, the first to be held under RBI Governor Urjit Patel, amid expectations of a 25 basis point cut in the repo rate.

Asian markets began the week under a cloud on Monday after losses on Wall Street, and as investors’ attention turned from central banks to American politics ahead of the first US presidential debate.

MSCI’s broadest index of Asia-Pacific shares outside Japan extended early losses and was down 0.7 per cent by midday, while Japan’s Nikkei stock index fell a similar amount as the yen firmed.