Business

SGX Nifty falls over 200 points, suggests negative opening in domestic markets

SGX Nifty falls over 200 points, suggests negative opening in domestic markets

The BSE Sensex dived on Friday by 407.40 pointsto end negative at 34,005.76 due to profit-booking in select stockssuch as Energy, Finance, Telecom and Bankex amidst weaker global cues. It was trading at 34,565.03 by surging 482.32 points, or 1.41 per cent at 1230 hrs.The index had lost 113.23 points in the previous session following the Reserve Bank's decision to leave interest rates unchanged that caught the market by surprise. The S&P BSE Sensex ended at 34,413, up almost 330 points while the broader Nifty50 index settled at 10,576, up around 100 points. The second straight weekly decline in claims pointed to strong job growth momentum.

Rising global rates are likely to impact the flow of funds to riskier assets like emerging markets, experts said.

Banking and financials stocks took a beating on emerging concerns over interest rate hike following rise in bond yields.

YES Bank (2.84%), ICICI Bank (2.33%) and HDFC (2.13%) were the top Sensex losers. Meanwhile, the broad based NSE Nifty went down by 121.90 or 1.15% at 10,454.95 with 35 components posting drop.

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Tata Steel (1.83%), Dr Reddy's (0.73%) and Asian Paints (0.67%) gained most on the Sensex.

While metal, realty, power and consumer durables ended higher. The Small-Cap index advanced 0.23 pc.

U.S. stocks have plunged more than 1,000 points for the second time this week and the stock market was now in a correction - 10 per cent off its record high just two weeks ago, the media reported. Among Asian bourses, Japan's Nikkei made gains while South Korea's Kospi fell 2.3 per cent.


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