ZCZC
BCN-29
INDIA-MARKET-SENSEX
Sensex crashes over 1,000 pts on global sell-off
Mumbai, Oct 11, 2018 (BSS/PTI) – Benchmark BSE Sensex Thursday crashed
over 1,030 points to slip below the key 34,000-mark in early trade, tracking
a global sell-off as the rupee hit yet another record low of 74.45 against
the US dollar.
Traders attributed the carnage in domestic bourses to the sell-off in
international bourses after US stocks tumbled on heavy correction in tech
stocks, fresh concerns over Fed rate hike and looming impact of the US’ trade
war with the China.
Rising 10-year US treasury bonds, jumping above 3 per cent last week and
the International Monetary Fund (IMF) slashing its global growth forecast and
weakness in emerging markets, too spooked investors.
The 30-share BSE Sensex, which had gained 461.42 points Wednesday, slipped
below the 34,000-mark by crashing 1,030.40 points, or 2.95 per cent, to
33,730.49 in opening trade.
The broader Nifty slipped below the 10,200-mark by tumbling 281.70 points,
or 2.69 per cent, to 10,178.70.
Widespread selling pulled down all sectoral indices led by realty, IT,
metal and banking, that fell up to 3.66 per cent.
Top laggards include SBI, Tata Steel, Infosys, Axis Bank, Bharti Airtel,
Yes Bank, Maruti Suzuki, HUL, TCS, HDFC, ICICI Bank, Adani Ports, Wipro, Tata
Motors, ITC, Coal India, Bajaj Auto, L&T, Sun Pharma IndusInd Bank and M&M,
dropping up to 3.99 per cent
In the forex market, the rupee slumped by 24 paise to an all-time low of
74.45 against the dollar due to heavy demand for the US currency from
importers.
Foreign portfolio investors sold shares worth a net of Rs 1,096 crore
Wednesday, provisional data showed.
Elsewhere in Asia, Japan’s Nikkei plunged 3.41 per cent, Hong Kong’s Hang
Seng lost 3.53 per cent, Singapore exchange was down 2.64 per cent and the
Korean bourse fell 2.28 per cent in late morning deals.
The US Dow Jones Industrial Average slumped 3.15 per cent Wednesday, its
biggest fall since February.
BSS/PTI/HR/1240