LIVE market updates: The Sensex index fell as much as 358.53 points to 36,205.35 in late morning dealsDomestic stock markets suffered sharp losses on Thursday amid cautious trade in Asian peers, after the US central bank lowered interest rates as expected but offered mixed signals on further easing.
The S-P BSE Sensex index fell as much as 358.53 points to touch 36,205.35 in late morning deals, and the broader NSE Nifty benchmark moved to 10,732.70, down 107.95 points from the previous close.
A selloff across sectors - led by banking, auto, information technology and metal sharers - dragged the markets lower.Shares in other Asian markets edged higher tracking some modest Wall Street gains overnight.
MSCI's broadest index of Asia-Pacific shares outside Japan was last up 0.03 per cent.
Japan's Nikkei rose 0.46 per cent and Australian shares climbed 0.23 per cent.Overnight in the US, the Dow Jones Industrial Average ended 0.13 per cent higher, while the S-P 500 gained 0.03 per cent and the Nasdaq Composite dropped 0.11 per cent.Central banks around the world have been loosening policy to counter the risks of low inflation and recession.
Easier monetary policy has generally supported equities.On Wednesday, the S-P BSE Sensex index gave up most of the day's gains to end 0.23 per cent higher from the previous close, and the broader NSE Nifty benchmark closed up 0.21 per cent.Yes Bank, IndusInd Bank, Zee Entertainment Top LosersSensex Top Gainers/LosersStockChangeAsian Paints+0.81%Hindustan Unilever+0.67%Bharti Airtel+0.60%Maruti Suzuki+0.36%Tata Motors+0.21%SBI-1.94%Tata Steel-2.49%ICICI Bank-2.51%IndusInd Bank-2.76%Yes Bank-5.30%Nifty Top Gainers/LaggardsStockChangeAsian Paints+0.92%Britannia+0.77%Hindustan Unilever+0.62%Bharti Airtel+0.58%Maruti Suzuki+0.31%Tata Steel-2.50%ICICI Bank-2.55%IndusInd Bank-2.80%Zee Entertainment-2.92%Yes Bank-5.54%Sensex, Nifty Fall Further As Selloff In Banking, Metal Sectors DeepensAt 10:13, the Sensex was down 267.35 points - or 0.73 per cent - at 36,296.53 while the Nifty was at 10,760.35, down 80.30points - or 0.74 per cent - from its previous close.
Top percentage losers on the 50-scrip index at the time were Yes Bank, Zee Entertainment, IndusInd bank, ICICI Bank, Tata Steel and Vedanta, trading between 2.04 per cent and 5.93 per cent lower.ICICI Bank, TCS and Infosys were the top drags on the Sensex.Rupee Opens Lower Against DollarThe rupee opened lower at 71.34 against the US dollar on Thursday, compared to its previous close of 71.23.
At 10:00 am, it was flat at 71.23 against the greenback.At Wednesday's closing price, the rupee is down2.09 per cent against the US currency so far this calendar year.Sensex, Nifty Open Higher But Give In To Losses SoonThe S-P BSE Sensex index opened at 36,613.93, up 50.05 points from its previous close of 36,613.93.
The broader NSE Nifty benchmark started the session at 10,845.20, up 4.55 points from the previous close.Sensex, Nifty Rise In Pre-Opening SessionIn the pre-opening session, the SGX BSE Sensex index was seen up as much as 348.58 points at 36,912.46.
At 9:04 am, the Sensex was up 147.16 points - or 0.40 per cent - at 36,711.04 while the broader NSE Nifty benchmark was at 10,854.35, up 13.70 points - or 0.13 per cent - from its previous close.Finance Minister Nirmala Sitharaman To Meet Chiefs Of State-Run BanksFinance MinisterNirmala Sitharamanwill meet the chiefs of public sector banks today to discuss merger-related issues and review their preparedness to execute the process within the stated timeline of April 1, 2020.The meeting will be held under the chairmanship of the Finance Ministeralong with banking secretary Rajeev Kumar.Reserves To Be Closely Monitored, Says Jerome PowellFederal Reserve Chairman Jerome Powell said the level of reserves in the system will be closely monitored to figure out whether that is the root issue, and the central bank will be "revisiting that question during the intermeeting period and certainly at our next meeting"."It is certainly possible," he added, "that we will need to resume the organic growth of the balance sheet earlier than we thought."US Central Bank Lowers Interest Rates As Expected, But Offers Mixed Signals On Future Action The Federal Reserve lowered interest rates by a quarter of a percentage point for the second time this year on Wednesday, in a widely expected move meant to sustain a decade-long economic expansion, but gave mixed signals about what may happen next.Central banks around the world have been loosening policy to counter the risks of low inflation and recession.
Easier monetary policy has generally supported equities.Asian Markets Edge Higher, Tracking Mild Gains In US Equities OvernightEquities in other Asian markets edged higher tracking some modest Wall Street gains overnight.
MSCI's broadest index of Asia-Pacific shares outside Japan was last up 0.03 per cent.
Japan's Nikkei rose 0.46 per cent and Australian shares climbed 0.23 per cent.Overnight in the US, the Dow Jones Industrial Average ended 0.13 per cent higher, while the S-P 500 gained 0.03 per cent and the Nasdaq Composite dropped 0.11 per cent.SGX Nifty Futures Down 0.10%, Indicate Lower Opening For Domestic Markets TodayDomestic stock markets are likely to start Thursday's session on a flat to lower note, amid mild gains in Asian peers after the US central bank lowered interest rates as expectedbut offered mixed signals on the next easing, keeping investors cautious.
At 8:24 am, the SGX Nifty futures trading on the Singapore Exchange were down11.00 points - or 0.10 per cent - at10,845.00.The Singapore Exchange's Nifty futures are an early indicator of the National Stock Exchange (NSE) Nifty in India.