Sensex Dips 300 Points, Nifty Falls Below 14,800; Godrej Consumer Zooms 10%

Asian share markets fell for a second straight session today to one-month lows as investors speculated surging commodity prices and growing inflationary pressure in the US could lead to earlier rate hikes and higher bond yields globally.

The Nikkei plunged 2% while the Hang Seng is trading down by 0.4%. The Shanghai Composite is down 0.1%.

In US stock markets, Wall Street indices fell for a second straight day overnight, although tech shares finished well above their session lows following bargain-hunting.

The Dow Jones Industrial Average dropped 1.4%, its worst session since late February. The Nasdaq slipped 0.1% to 13,389.

Back home, Indian share markets have opened on a negative note, following the trend on SGX Nifty.

Asian Paints, Pidilite Industries, Tata Power, Lupin, UPL, Voltas, Happiest Minds, and Sonata Software are among companies that will announce their March quarter results today.

The BSE Sensex is trading down by 325 points. Meanwhile, the NSE Nifty is trading lower by 84 points.

Sun Pharma is among the top gainers today. Kotak Mahindra Bank, on the other hand, is among the top losers today.

The BSE Mid Cap index has opened up by 0.1%. The BSE Small Cap index is trading higher by 0.4%.

Sectoral indices are trading on a mixed note with stocks in the IT sector and finance sector witnessing most of the selling pressure.

Power stocks and metal stocks, on the other hand, are trading in green.

Shares of Grindwell Norton and IEX hit their 52-week high today.

The rupee is trading at 73.51 against the US$.

Gold prices are trading down by 0.3% at Rs 47,494 per 10 grams.

Gold prices fell today as a rise in US Treasury yields and a firmer dollar dented the metal's safe-haven appeal, while investors awaited the US consumer price index data due later in the day.

In cryptocurrencies, Bitcoin was trading around US$ 57,782.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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