Sensex plunges 770 points on weak Q1 GDP numbers, Nifty ends on 10,798
04 September, 2019, 10:12
A slew of recent macroeconomic data on GDP, core sector growth and auto sales are pointing towards a deepening economic rout in the country. The broader Nifty too sank 225.35 points, or 2.04 per cent, to settle at 10,797.90. At one point in the day, the Sensex fell over 850 points to 36,466. According to analysts, weakening of the American currency in overseas market led to the appreciation in the local currency.
Top losers in the Sensex pack included ICICI Bank, Tata Steel, Vedanta, HDFC IndusInd Bank, Tata Motors, RIL and ONGC - falling up to 4.45 per cent.
The Indian rupee has extended the morning gains and trading higher by 28 paise at 72.11 per dollar versus Tuesday's close of 72.39.
All sectoral indices ended in the red, with BSE metal, energy, consumer durable, telecom, bankex, finance, oil and gas, realty and capital goods indices settled 3.23 % lower. So far this year, the index has risen 1.37%.
A slew of negative news piled up over the long weekend, latest being the U.S. and China indulging in fresh tariff war, with both sides announcing fresh rounds of import duties, and the deepening domestic slowdown, with paltry growth in eight core sectors, which slipped to 2.1 per cent during July from 7.3 per cent a year ago.
Rupee is likely to move in a range of71.95-72.40 in near future, IFA Global said in a note.
The fall in public sector bank stocks also came after the government announced the merger of ten state-run lenders into four.
Monster Storm Dorian Slows to a Crawl Over the Bahamas The hurricane center issued a hurricane watch for Florida's East Coast from Deerfield Beach north to Altamaha Sound in Georgia. Initial reports indicate that Hurricane Dorian has caused unprecedented devastation with one confirmed death.
However, the merger will still be painful as a result of the geographic and cultural diversity of the merging entities, they added.
A separate private-sector survey indicated that expansion in the country's manufacturing sector hit its slowest in 15 months in August, as demand and output grew at their weakest pace in a year and cost pressures increased.
A weaker than expected GDP growth rate numbers for the first quarter of the financial year weighed on investor sentiments as domestic equity indices BSE Sensex and NSE Nifty cracked over 2 percent on Tuesday.
Besides, the growth of eight core industries dropped to 2.1 per cent in July, mainly due to contraction in coal, crude oil and natural gas production.
"We are doing very well in our negotiations with China".
Global oil benchmark Brent crude fell 1.07 per cent to 58.03 per barrel (intra-day).
Six people are feared dead and multiple passengers are reportedly trapped following a horror bus crash in New Zealand . An official at the Chinese embassy in Wellington told Reuters it was working with police to identify the victims.
Lee took a seat on the side of the Opposition members as the prime minister addressed the House of Commons. Lee's defection comes on perhaps the most consequential day so far for Johnson's young premiership.
Pakistan Foreign Office had announced over the weekend that it would grant India consular access on September 2. The court had ruled in July that India should be allowed consular access to Jadhav and stayed his execution.
Trump has also accused China of trying to interfere in American presidential elections and campaigning against him. The dispute over fentanyl comes as the United States is in the middle of a major trade dispute with China.
Bush's seeming disengagement from the human toll inflicted by Hurricane Katrina in 2005 while he vacationed at his Texas ranch. And then, of course, there was his unexplained unfamiliarity with Category 5 hurricanes.
Both the Oneplus 7 and 7 Pro receive the Android 10 Preview Beta 5, which is presumed to be the final one. OnePlus also notes that if you have Developer Preview 4 installed, you can upgrade via OTA update.
Interestingly, the phones shown on the website mention the date as September 3 and the time as 10:00 (most likely PT). Every year, Google revamps its mobile operating system with new features, and this year is no different .
The page has since been taken down, which could either indicate an error by Nintendo or at attempt to hide the slip-up. Metal Slug , King of Fighters , and the recently released Samurai Shodown all fall under SNK's umbrella.
The fastest brand to deliver Android Oreo was Sony , taking 63 days to issue a stable Oreo update to one of its phones . Given that the final Android Q Beta 6 was released for developers and beta testers, the final update is expected soon.
Serena Williams: 'I'm okay to play 44-minute matches'
The combination of her nerves and Williams' fierce focus was simply too much for her to put up even modest resistance. Williams introduced up a century of US Open wins to maneuver to inside one of many all-time chief Chris Evert.
U.S. manufacturing sector contracts in August
Treasury yields fell on Tuesday as traders pushed the price of European and US government paper higher, amid concerns around U.K. The latest escalation follows three months of stalled negotiations after China reportedly walked away from an agreement in May.
Kim Kardashian Slammed Over North West's Earring Choices
But, rather than comment on how cute the snap was, trolls attacked Kim for permitting her daughter to wear the hoops in her ears. Like this story? Sign up to our newsletter to get other stories like this delivered straight to your inbox.
Rams agree with QB Jared Goff on 4-year contract extension
The Los Angeles Rams have said for months that they're waiting until next year to sign Jared Goff to a contract extension. Goff has passed for 9,581 yards and 65 touchdowns, with 26 interceptions, and has completed 62.1% of his throws.
Extreme flooding in Freeport from Hurricane Dorian
He said crews were trying to airlift five to seven kidney failure patients from Abaco who had not received dialysis since Friday. The extent of flooding caused by Hurricane Dorian in the Bahamas has been highlighted by a video of a major airport underwater.
Prince Harry Announces Massive Travel Sustainability Project
Harry arrived in the capital a day before the launch and joked that he had the "best night's sleep I've had in four months". The scheme was widely praised on social media, though British broadcaster Piers Morgan scoffed at the irony on Twitter .
Tiger Woods unleashes fist-pumps while cheering Rafa Nadal
Open but raised his game to beat Marin Cilic 6-3 3-6 6-1 6-2 on Monday and continue his quest for a fourth Flushing Meadows title. Fully engaged and ready to battle, Cilic had just taken the second set and was serving at 2-1, 0-30 in the third.
Former American Idol Contestant Dies in Maine Motorcycle Crash
Former " American Idol " contestant Haley Smith died on August 31 after she was involved in a tragic motorcycle crash in Maine. Her circle of relatives instructed TMZ that they have been having a look ahead to celebrating the birthday along with her.
Ariana Grande Is Suing Forever 21 for $10 Million
Grande's lawsuit included a number of image examples of the supposed copyright infringement committed by Forever 21 . Grande's album Thank U, Next by publishing at least 30 unauthorised images and videos misappropriating Ms.