Sensex Falls 400 Points On Weak Global Cues; Kotak Mahindra Bank & HDFC Top Losers

Asian share markets dropped in early trade today as demand resurgence collided with a strained supply of basic materials, helping to fuel inflation worries.

The Hang Seng plunged 2.3% while the Nikkei is trading down by 2.9%. The Shanghai Composite is down 0.3%.

In overnight trade, US stock markets fell from a record high as worries about accelerating inflation dragged on shares and hobbled the dollar that struggled at a 10-week low.

The S&P 500 index plunged 44 points or 1% to 4,188.43. The Dow Jones Industrial Average retreated 35 points or 0.1% to 34,743, while the tech-heavy Nasdaq dived 350 points or 2.6% to 13,402.

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

Market participants will track shares of Godrej Consumer, Neuland Labs, BASF India, Siemens, Aarti Industries, Linde India, and Granules India as these are among companies that will announce their March quarter results today.

Investors will also keep an eye on the results of the MSCI May 2021 semi-annual index review, which is set to be released later in the day.

The BSE Sensex is trading down by 412 points. Meanwhile, the NSE Nifty is trading lower by 124 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 down by 0.1%. The BSE Small Cap index is trading up by 0.2%.

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

Healthcare stocks, on the other hand, are trading in green.

Shares of Trident and Reliance Power hit their 52-week high today.

The rupee is trading at 73.50 against the US$.

Gold prices are trading up by 0.1% at Rs 47,970 per 10 grams.

In news from the insurance sector, the gross direct premium written by non-life insurance companies rose by over 22% in April this year to Rs 173.1 billion, as per regulatory data.

1 2 3
View single page >> |

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

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.