Tuesday, 15 October, 2019

Markets stage smart recovery; Sensex bounces back over 300 points

Markets stage smart recovery Sensex bounces back over 300 points Markets stage smart recovery; Sensex bounces back over 300 points
Russell Knight | 07 February, 2018, 20:40

The benchmark BSE Sensex was up 130 points or 0.38 percent at 34,325 after hitting as high as 34,666 in early trade.

In sectoral terms, the banking index dipped 0.43 per cent as shares of PNB, Yes Bank, HDFC Bank, Axis Bank, IndusInd Bank and Bank of Baroda shed up to 2.18 per cent.

The 30-share index, which had bounced over 470 points in the opening trade, was quoting 68.63 points, or 0.20 percent lower at 34,127.31 soon after the RBI announced its sixth bi-monthly monetary review of this fiscal. The overall market breadth was negative with 2,262 stocks declining as against only 498 gainers. Investors lost Rs 5 lakh crore in just two trading sessions. The Sensex fell by 1,769.08 points and the Nifty50 by 529.45 points during the last four sessions.

Indias stock market registered losses for the six straight trading sessions till yesterday, 6 February 2018, weighed down by a combination of domestic and global factors.

Indian markets ended lower on Wednesday.

Markets stage smart recovery; Sensex bounces back over 300 points

Meanwhile, gold prices are higher as investors rush to the safe haven investment following the setback in global equity markets.

He ruled out the possibility of the RBI's policy having a big impact under current market conditions and said the interest rate cycle had already reached a point where there was no more room for being accommodative. The FTSE 100 index tumbled to 7,345, having peaked at nearly 7,800 last month.

The Dow Jones Industrial Average fell almost 1,600 points for its biggest intraday drop in history in points terms, or more than 6 per cent, before ending down 1,175.21 points, or 4.6 per cent for its biggest one-day fall since August 2011.

"As expected, RBI continued to stay on the neutral stance awaiting more upcoming domestic and global macro data, and seeing some sanity in the bond market".

"Market was initially impacted by LTCG and slippage in fiscal deficit from the Union Budget. However, it may be too early to really take a view on the direction of the markets at this point of time", said Vaibhav Agrawal, head of research, Angel Broking. "There was only minimal disruption on Day 1", said Finance Secretary Hasmukh Adhia in a tweet.

Pence in Japan to boost pressure on North Korea
Secretary of State Rex Tillerson, the US top diplomat, also didn't dismiss the possibility of a meeting with Pyongyang officials. He touted the coming deployment of an additional 20 ground-based interceptors that would respond to an enemy launch.

Knicks send Hernangomez to Hornets
Hernangomez, 23, has been unhappy about his playing time as a third stringer who racked up 29 DNPs through 55 games. O'Bryant, 24, is a 6-foot-9 power forward who is averaging 4.8 points and 2.6 rebounds in 10.5 minutes per game.

Man wanted for viral child pornography video turns himself in
A woman behind the door at Moore's Millbrook home had little to say about the heinous crimes for which Jermaine Moore is accused. After further investigation, Shreveport detectives said they have reason to believe the video may have originated in Alabama.

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