Indian Shares Nosedive Amid Global Selloff; IT And Metal Stocks Worst Hit

RTTNews | 949 dias atrás
Indian Shares Nosedive Amid Global Selloff; IT And Metal Stocks Worst Hit

(RTTNews) - Indian shares plunged on Monday and the rupee slipped to a record low of 80.09 against the dollar in early trade, as the U.S. Federal Reserve's aggressive stance to tame inflation sparked a global selloff.

Fed Chair Jerome Powell delivered a stark warning Friday about the Fed's determination to fight inflation, saying the "economy does not work for anyone" without price stability and the central bank would use its tools "forcefully" that could mean slower growth, a weaker job market and "some pain" for households and businesses.

The benchmark S&P/BSE Sensex plummeted 1,015 points, or 1.7 percent, to 57,818, while the broader NSE Nifty index was down 290 points, or 1.7 percent, at 17,269.

IT stocks suffered heavy losses, with Wipro, HCL Technologies, Infosys and Tech Mahindra tumbling 3-5 percent.

Metal stocks were also hit hard, with Tata Steel, Hindalco and JSW Steel declining 2-4 percent.

LIC Housing Finance fell nearly 2 percent despite announcing a huge dividend.

Reliance Industries was down 0.6 percent ahead of its AGM today.

FMCG stocks were seeing defensive buying, with Hindustan Unilever, Britannia Industries and Nestle India all rising around half a percent.

read more
Asian Markets Track Wall Street Lower

Asian Markets Track Wall Street Lower

Asian stock markets are trading mostly lower on Friday, following the broadly negative from Wall Street overnight, with some of the major markets being closed, as traders continue to assess the impact of the steeper-than-expected reciprocal tariffs imposed by US President Donald Trump on U.S. trade partners. Asian markets ended mostly lower on Thursday.
RTTNews | 4h 7min atrás
Australian Market Extends Early Losses In Mid-market

Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market moves on Friday, adding to the losses in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling almost 2 percent to stay just above the 7,700 level, with weakness across most sectors led by energy and technology stocks.
RTTNews | 4h 50min atrás
Sensex, Nifty Seen Lower At Open As Global Sell-off Deepens

Sensex, Nifty Seen Lower At Open As Global Sell-off Deepens

Indian shares may follow global peers lower on Friday, even as a weakening dollar, plunging oil prices and expectations for accelerated Federal Reserve interest-rate cuts may help cap overall losses to some extent.
RTTNews | 4h 58min atrás
Japanese Market Sharply Lower; Down 2.4%

Japanese Market Sharply Lower; Down 2.4%

Extending the sharp losses in the previous session, the Japanese market is sharply lower on Friday, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling 2.4 percent to below the 33,900 level, with weakness across most sectors led by index heavyweights, financial and technology stocks.
RTTNews | 6h 1min atrás
Australian Market Sharply Lower

Australian Market Sharply Lower

The Australian stock market is trading sharply lower on Friday, extending the losses in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 7,800 level, with weakness across most sectors led by energy and technology stocks.
RTTNews | 6h 28min atrás
Thai Shares Tipped To Open Under Water Again On Friday

Thai Shares Tipped To Open Under Water Again On Friday

The Thai stock market on Thursday ended the two-day winning streak in which it had advanced almost 15 points or 1.2 percent. The Stock Exchange of Thailand now sits just above the 1,160-point plateau and it's looking at another soft start again on Friday.
RTTNews | 6h 30min atrás
Soft Start Expected For Singapore Stock Market

Soft Start Expected For Singapore Stock Market

The Singapore stock market has tracked lower in four straight sessions, slumping almost 40 points or 1 percent along the way. The Straits Times Index now sits just above the 3,940-point plateau and it figures to open in the red again on Friday. The global forecast for the Asian markets is broadly negative after U.S. President Donald Trump's tariff announcement. The European and U.S. markets were sharply lower and the Asian bourses are expected to open in similar fashion. The STI finished modestly lower on Thursday following losses from the banks and mixed performances from the properties and industrials. For the day, the index lost 11.98 points or 0.30 percent to finish at 3,942.23 after trading between 3,902.98 and 3,955.04.
RTTNews | 7h 0min atrás
Malaysia Bourse May Give Up Support At 1,500 Points

Malaysia Bourse May Give Up Support At 1,500 Points

The Malaysia stock market has moved lower in two of three trading days since the end of the three-day winning streak in which it had picked up more than 30 points or 2 percent. The Kuala Lumpur Composite Index now sits just beneath the 1,520-point plateau and it may take further damage again on Friday.
RTTNews | 7h 30min atrás