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Sensex, Nifty Tumble On Growth Worries; Technology Stocks Drifting Lower
(RTTNews) - Indian shares are languishing in negative territory Friday morning after opening on a weak note amid concerns the Federal Reserve's moves to tame inflation through aggressive rate hikes might result in the world's largest economy falling into a recession.
The Fed, which is scheduled to meet next week, is widely expected to announce another 75-basis point rate to fight soaring inflation.
Technology, automobile and bank stocks are among the most prominent losers.
The BSE benchmark Sensex, which plunged to 59,154.73, is down 611.67 points or 1.02 percent at 59,322.34. The broader Nifty50 of the National Stock Exchange, which dropped to 17,642.80, is currently down 187.00 points or 1.05 percent at 17,690.40.
Tech Mahindra is down more than 3 percent, Tata Consultancy Services and Infosys, both are down by about 2 percent, Wipro is lower by 1.7 percent, and HCL Technologies is declining 1.55 percent.
Mahindra & Mahindra is down 2.7 percent, Hero Motocorp is down nearly 4 percent and Tata Motors is sliding 2 percent, while TVS Motor, Escorts, Bajaj Auto and Ashok Leyland are lower by 0.8 to 1.3 percent.
Larsen & Toubro, Reliance Industries, NTPC, HDFC, UltraTech Cement, Power Grid Corporation and Nestle are down 1 to 2 percent.
Vedanta is down nearly 6 percent after the company issued clarification regarding the proposed business of manufacturing semiconductors. The company cleared the air around semiconductors' business, saying it is with the holding company, Volcan Investments Limited.
"We reiterate that the proposed business of manufacturing semiconductors is not under Vedanta Limited and we understand that it will be undertaken by the ultimate holding company of Vedanta Limited, Volcan Investments Limited," Vedanta said in a regulatory filing on Thursday.
IndusInd Bank is gaining about 3.25 percent. Sun Pharmaceuticals is rising 1.8 percent and Cipla is gaining 2.3 percent.
Tata Metaliks is gaining nearly 5.5 percent buoyed by news about the company inagurating phase-1 of expansion project of ductible iron pipe plant at Kharagpur.
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Thai Stock Market Has Flat Lead
The Thai stock market has moved higher in two straight sessions, gathering more than a dozen points or 1 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,160-point plateau and it's expected to be rangebound again on Tuesday.
The global forecast for the Asian markets is mixed with a touch of upside amidst a lack of catalysts. The European markets were up slightly and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference.
The SET finished barely higher on Monday as gains from the food, finance, resource and technology stocks were capped by weakness from the consumer, industrial, property and service sectors.
For the day, the index rose 0.53 points or 0.05 percent to finish at 1,159.53 after trading between 1,156.63 and 1,166.32. Volume was 5.368 billion shares worth 28.497 billion baht. There were 250 decliners and 216 gainers, with 188 stocks finishing unchanged.
Among the actives, Advanced Info added 0.36 percent, while Thailand Airport retreated 0.68 percent, Asset World sank 0.90 percent, Banpu gained 0.47 percent, Bangkok Bank collected 0.74 percent, Bangkok Dusit Medical tumbled 1.70 percent, Bangkok Expressway picked up 0.84 percent, B. Grimm strengthened 0.89 percent, BTS Group declined 0.81 percent, CP All Public lost 0.50 percent, Charoen Pokphand Foods advanced 0.97 percent, Energy Absolute slumped 0.91 percent, Gulf gathered 0.55 percent, Kasikornbank rose 0.32 percent, Krung Thai Bank climbed 0.96 percent, PTT Oil & Retail surged 4.58 percent, PTT rallied 0.82 percent, PTT Exploration and Production was up 0.50 percent, PTT Global Chemical stumbled 2.82 percent, SCG Packaging tanked 2.21 percent, Siam Commercial Bank improved 0.86 percent, Siam Concrete dropped 0.99 percent, True Corporation shed 0.84 percent, TTB Bank increased 1.13 percent and Krung Thai Card and Thai Oil were unchanged.
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1घंटे 22 मिनट पहले
Indonesia Shares Tipped To Open In The Red
The Indonesia stock market has moved higher in back-to-back sessions, advancing almost 110 points or 1.8 percent along the way. The Jakarta Composite Index now rests just above the 6,720-point plateau although it's expected to open to the downside on Tuesday.
The global forecast for the Asian markets is mixed with a touch of upside amidst a lack of catalysts. The European markets were up slightly and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference.
The JCI finished modestly higher on Monday following gains from the financial shares and mixed performances from the cement companies and resource stocks.
For the day, the index added 44.05 points or 0.66 percent to finish at 6,722.97 after trading between 6,688.78 and 6,736.86.
Among the actives, Bank CIMB Niaga fell 0.29 percent, while Bank Mandiri collected 0.41 percent, Bank Danamon Indonesia improved 0.83 percent, Bank Negara Indonesia dipped 0.24 percent, Bank Central Asia spiked 2.03 percent, Bank Rakyat Indonesia accelerated 2.67 percent, Indosat Ooredoo Hutchison rose 0.27 percent, Semen Indonesia skidded 1.15 percent, Indofood Sukses Makmur shed 0.67 percent, United Tractors dropped 0.87 percent, Astra International added 0.62 percent, Energi Mega Persada rallied 1.59 percent, Astra Agro Lestari jumped 1.71 percent, Aneka Tambang shed 0.47 percent, Timah soared 3.52 percent, Bumi Resources tumbled 1.87 percent and Vale Indonesia and Indocement were unchanged.
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1घंटे 23 मिनट पहले
Steady Start Tipped For Hong Kong Stock Market
The Hong Kong stock market has moved lower in two of three trading days since the end of the three-day winning streak in which it had jumped more than 1,000 points or 4.5 percent. The Hang Seng Index now sits just above the 21,970-point plateau and it may tick slightly higher on Tuesday.
The global forecast for the Asian markets is mixed with a touch of upside amidst a lack of catalysts. The European markets were up slightly and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference.
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1घंटे 24 मिनट पहले
China Shares Likely To Remain Rangebound
The China stock market has finished lower in two straight sessions, sliding more than 10 points or 0.3 percent along the way. The Shanghai Composite Index now sits just beneath the 3,290-point plateau and it's likely to hold steady in that neighborhood again on Tuesday.
The global forecast for the Asian markets is mixed with a touch of upside amidst a lack of catalysts. The European markets were up slightly and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference.
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1घंटे 25 मिनट पहले
Rally May Stall For Taiwan Stock Market
The Taiwan stock market has finished higher in two straight trading days, gathering more than 550 points or 2.7 percent in that span. The Taiwan Stock Exchange now sits just above the 20,030-point plateau although it may spin its wheels on Tuesday.
The global forecast for the Asian markets is mixed with a touch of upside amidst a lack of catalysts. The European markets were up slightly and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference.
The TSE finished modestly higher on Monday following gains from the technology and cement stocks, while the financial and plastics sectors were mixed.
For the day, the index improved 161.68 points or 0.81 percent to finish at 20,034.41 after trading between 19,972.07 and 20,073.75.
Among the actives, Cathay Financial and Nan Ya Plastics both perked 0.16 percent, while Mega Financial shed 0.40 percent, Fubon Financial fell 0.25 percent, E Sun Financial collected 0.91 percent, Taiwan Semiconductor Manufacturing Company climbed 1.01 percent, United Microelectronics Corporation added 0.56 percent, Hon Hai Precision spiked 2.52 percent, Largan Precision sank 0.67 percent, Catcher Technology strengthened 1.39 percent, MediaTek stumbled 2.17 percent, Delta Electronics soared 3.03 percent, Novatek Microelectronics jumped 1.99 percent, Formosa Plastics lost 0.73 percent, Asia Cement rallied 1.59 percent and CTBC Financial and First Financial were unchanged.
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Singapore Stock Market Due For Support
The Singapore stock market has moved lower in three straight sessions, slumping more than 20 points or 0.6 percent in that span. The Straits Times Index now sits just above the 3,810-point plateau although it may stop the bleeding on Tuesday.
The global forecast for the Asian markets is mixed with a touch of upside amidst a lack of catalysts. The European markets were up slightly and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference.
The STI finished modestly lower on Monday following mixed performances from the financial shares, property stocks and industrial issues.
For the day, the index slipped 11.98 points or 0.31 percent to finish at 3,811.80 after trading between 3,797.17 and 3,821.68.
Among the actives, CapitaLand Integrated Commercial Trust rallied 1.40 percent, while CapitaLand Investment added 0.75 percent, City Developments sank 0.80 percent, Comfort DelGro shed 0.65 percent, DBS Group dipped 0.12 percent, Hongkong Land jumped 1.29 percent, Keppel DC REIT gained 0.48 percent, Keppel Ltd plunged 2.56 percent, Mapletree Pan Asia Commercial Trust dropped 0.82 percent, Oversea-Chinese Banking Corporation lost 0.44 percent, Seatrium Limited slumped 1.02 percent, Singapore Technologies Engineering spiked 1.66 percent, SingTel advanced 0.80 percent, Thai Beverage climbed 0.98 percent, Wilmar International rose 0.32 percent, Yangzijiang Financial collected 0.71 percent, Yangzijiang Shipbuilding soared 2.27 percent and Emperador, Genting Singapore, Mapletree Industrial Trust, Mapletree Logistics Trust, SembCorp Industries, SATS, DFI Retail Group and Frasers Centrepoint Trust were unchanged.
The lead from Wall Street suggests little movement as the major averages opened higher on Monday, slumped mid-session but rallied to finish mixed and little changed.
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1घंटे 26 मिनट पहले
Malaysia Bourse Due For Profit Taking
The Malaysia stock market has moved higher in four straight sessions, gathering more than 35 points or 2.2 percent in that span. The Kuala Lumpur Composite Index now sits just above the 1,520-point plateau although investors may lock in gains on Tuesday.
The global forecast for the Asian markets is mixed with a touch of upside amidst a lack of catalysts. The European markets were up slightly and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference.
The KLCI finished modestly higher on Monday as gains from the financial shares and telecoms were capped by weakness from the plantations.
For the day, the index climbed 12.39 points or 0.82 percent to finish at the daily high of 1,521.59 after trading as low as 1,511.48.
Among the actives, Axiata increased 0.99 percent, while Celcomdigi was up 0.27 percent, Gamuda accelerated 1.75 percent, IHH Healthcare and Tenaga Nasional both perked 0.29 percent, IOI Corporation sank 0.82 percent, Kuala Lumpur Kepong gained 0.71 percent, Maxis improved 1.10 percent, Maybank collected 1.22 percent, MISC jumped 1.66 percent, MRDIY lost 0.61 percent, Nestle Malaysia gathered 0.47 percent, Petronas Chemicals rallied 1.45 percent, Petronas Dagangan eased 0.11 percent, PPB Group slid 0.33 percent, Press Metal climbed 1.24 percent, Public Bank soared 2.06 percent, QL Resources surged 2.11 percent, RHB Bank spiked 1.84 percent, Sime Darby fell 0.48 percent, SD Guthrie shed 0.64 percent, Sunway picked up 0.22 percent, Telekom Malaysia added 0.88 percent, YTL Corporation rose 0.53 percent, YTL Power advanced 1.20 percent and 99 Speed Mart Retail, CIMB Group and Hong Leong Financial were unchanged.
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1घंटे 27 मिनट पहले
Little Movement Seen For South Korea Stock Market
The South Korea stock market has moved higher in back-to-back sessions, collecting more than 25 points or 1 percent in that span. The KOSPI now sits just beneath the 2,550-point plateau although it may be stuck in neutral on Tuesday.
The global forecast for the Asian markets is mixed with a touch of upside amidst a lack of catalysts. The European markets were up slightly and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference.
The KOSPI finished slightly higher on Monday following gains from the industrial, weakness from the technology and chemical companies and a mixed picture from the financial sector.
For the day, the index rose 2.56 points or 0.10 percent to finish at 2,548.86 after trading between 2,541.97 and 2,558.69. Volume was 449.07 million shares worth 7.73 trillion won. There were 519 decliners and 366 gainers.
Among the actives, Shinhan Financial sank 0.80 percent, while KB Financial fell 0.35 percent, Hana Financial collected 1.31 percent, Samsung Electronics perked 0.18 percent, Samsung SDI shed 0.49 percent, LG Electronics dropped 0.84 percent, SK Hynix retreated 1.30 percent, Naver climbed 1.03 percent, LG Chem stumbled 1.56 percent, Lotte Chemical tanked 2.83 percent, SK Innovation gained 0.42 percent, POSCO advanced 0.97 percent, SK Telecom plummeted 6.75 percent, KEPCO improved 1.19 percent, Hyundai Mobis was up 0.40 percent, Hyundai Motor rose 0.11 percent and Kia Motors added 0.57 percent.
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