Share Bazar Update- Markets witness terrible fall in 10 months

share bazar bhav

The Rupee fell to 65.16 against the US dollar that too it’s lowest since March, before regaining over its preceding day’s close of 64.79. The yield on the Ten-year govt bond in intraday trade rose to 6.69%, the highest since May, before closing at 6.67%.

Meantime, the US dollar strength on the US Federal Reserve’s plan tends to shrink its balance sheet. North Korea’s new hydro bomb menace and S&P’s downgrade of China also spoiled investor sentiment towards emerging markets.

FPIs pulled out Rs 1242 crore from domestic stocks on Friday, while domestic investors buying was comparatively muted at Rs 520 crore. The India Volatility Index surged 10%.

On the week ended Friday, there were four falling stocks for each one advancing. The BSE Midcap index declined close to 3%. Real estate, Metals and realty were the worst performing sectors. Among Sensex stocks, Tata Steel plummeted about 5%, after base metal prices chopped down due to China downgrade. SBI and ICICI Bank fell about 2% each.

Sensex falls 145 points, Nifty below 10,100, Dr. Reddy’s shares gain

stock market down

At 11:20 am The BSE Sensex dropped by 105.68 points, to 32,295, while the Nifty fell 41 points to 10,100.

Asian stock shares struggled for direction on Thursday morning since the US stock markets closed mixed and the Federal Reserve left interest rates unchanged but there is hopes that it expects another increase by the end of the year.

Shares of Divi’s Laboratories gained 2.35 percent at Rs 964.95/share, Cipla gained 1.02 percent at Rs 575.50/share, Glenmark Pharma gained 0.90 percent at Rs 615.70 per share and Aurobindo Pharma gained 0.77 percent at Rs 751.30 per share.

Dr Reddy’s Lab surged over 6.5 percent to Rs. 2462.90 after it has got an Establishment Inspection Report from the US food & drug regulator for its Srikakulam plant. The stock of Dr. Reddy Lab was the major gainer on Sensex, Nifty hitting its highest price since 31 July 2017.