Trading will resume in stock exchanges on May 14, Friday.
On Wednesday, domestic equity benchmarks were on track to register losses for a second straight day amid negative global cues.
Traders speculated surging commodity prices and growing inflationary pressure in the US could lead to earlier rate hikes and higher bond yields globally, which would result in further outflows.
Upcoming data is expected to show that annual inflation in the US likely came in around 3.6 per cent, pushed higher mainly by the base effect, and therefore may not sustain. But if the month-on-month inflation data shows a surge, the dovish Federal Reserve will be forced to take it seriously, said an analyst.
By Sabari Saran
NEW DELHI: Asian markets extended losses on Thursday, perpetuating the weak sentiment from the US tech rout. But mild gains in US stock at the opening tick later in the day held out promise for Friday’s session on Dalal Street, which was shut on Thursday for a public holiday.
Nifty slipped 1 per cent on Wednesday, and in the process, formed a Bearish Belt Hold pattern on the daily chart. Analysts said the 50-pack is facing a stiff hurdle on the higher side, especially in the 14,900-15,000 zone.
“Only a close above the 15,000 mark can activate the overall bullish stream. Otherwise, we may again see selling pressure at higher levels. Support can be seen near the 14,775-14,700 zone,” said Rohit Singre, Senior Technical Analyst at LKP Securities.
Sensex tanks over 400 pts in early trade; Nifty drops below 14,750
Updated:
Updated:
May 12, 2021 11:02 IST
The 30-share BSE index was trading 403.16 points or 0.82% lower at 48,758.65 in initial deals
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A view of the Bombay Stock Exchange building in Mumbai. File
| Photo Credit: PTI
The 30-share BSE index was trading 403.16 points or 0.82% lower at 48,758.65 in initial deals Equity benchmark Sensex tumbled over 400 points in early trade on Wednesday, tracking losses in index majors HDFC twins, Reliance Industries and ICICI Bank amid negative cues from global markets. The 30-share BSE index was trading 403.16 points or 0.82% lower at 48,758.65 in initial deals.
Similarly, the broader NSE Nifty fell 112.80 points or 0.76% to 14,737.95.
PowerGrid was top gainer.
FIIs offloaded shares worth Rs 336 crore.
Mumbai: Equity benchmark Sensex tumbled over 400 points in early trade on Wednesday, tracking losses in index majors HDFC twins, Reliance Industries and ICICI Bank amid negative cues from global markets.
The 30-share BSE index was trading 403.16 points or 0.82 per cent lower at 48,758.65 in initial deals.
Similarly, the broader NSE Nifty fell 112.80 points or 0.76 per cent to 14,737.95.
HDFC was the top loser in the Sensex pack, shedding over 2 per cent, followed by M&M, HUL, Nestle India, Tech Mahindra and ICICI Bank.
On the other hand, PowerGrid, NTPC, L&T, SBI and ONGC were among the gainers.