The Sensex ended Friday’s session with a loss of 1%, dragged down by oil & gas, technology, auto and metals sectors. The initial hour and last hour of trade was quite dramatic, market dropping nearly 200 points on weak global cues, leading to a volatile day of trade. The 30-share BSE Sensex fell 163.06 points, to close at 15,695.43. Meanwhile, the 50-share NSE Nifty managed to get back above the 4700 in late trade, before closing down 46.40 points at 4,710.05.
Asian stocks fell for a third day, headed for a fourth weekly loss, amid concern that Japan may soon be faced with unsustainable lending costs as Europe’s debt crisis shows no sign of easing, damping the earnings outlook for Asian exporters. Stocks in Japan ended flat and Hang Seng was down 1.37%.
European stocks declined for a seventh day after Italy’s borrowing costs rose to a euro-era record and the cost of insuring against default on financial- company debt climbed to a record. US index futures fell. Hungary, which last week turned to the International Monetary Fund for help, lost its investment- grade rating at Moody’s Investors Service, which cited risks to budget-deficit and public debt targets.
#Courtesy Religare
No comments:
Post a Comment