Indian shares extend fall; bonds slip, rupee flat

Indian shares extend fall; bonds slip, rupee flat

Global markets nosedived today after a record-breaking loss on Wall Street, extending a global rout as investors fret over rising USA borrowing costs.The Dow on Monday suffered its worst points fall in history and wiped out all its 2018 gains, while the S&P 500 also took a beating.

In yesterday's closing Sensex plunged almost 310 points to close at a three-week low of 34,757.16 and the NSE Nifty fell over 94 points to 10,667, dragged down concerns over certain budget proposals and sell-offs in global markets. Here is how it all started.

Indian equities nursed losses for the sixth straight session today as the post-Budget sell-off continued amid a meltdown in the world markets.

People are reacting to the fall in the market in front of Bombay Stock Exchange on Friday.

Nifty 50 fell 186.50 points or 1.75 percent to 10,480. The benchmark finally ended at 34,195.94, down 561.22 points, or 1.61 per cent.

Investors also seemed cautious ahead of the RBI policy meet as they feel that repo rate might be increased amid inflation concerns, brokers said.

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Major losers in the 30-share index were Housing Development Finance Corporation (3.86%), Larsen & Toubro (3.49%), Kotak Mahindra Bank (2.66%), Bajaj Auto (2.12%), Adani Ports and Special Economic Zone (2.08%), and Oil & Natural Gas Corporation (1.84%).

Market breadth was negative with 1,031 advances against 1,525 declines.

Strong selling pressure dragged down all the Sensex and the Nifty components. It plunged by over 300 points or 3.00 per cent.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,263.57 crore on net basis while domestic institutional investors (DIIs) bought equities to the tune of Rs 1,163.64 crore yesterday, provisional data showed.

The Dow Jones Industrial Average plunged 4.6 percent, the S&P 500 plummeted 4.1 percent and the tech-heavy Nasdaq Composite lost 3.8 percent. The German DAX dropped 0.8 percent, while France's CAC 40 index and the U.K.'s FTSE 100 shed around 1.5 percent each.

MSCI's broadest index of Asia-Pacific shares outside Japan slid 3.5 percent to a one-month low, which would be its biggest fall in more than a year and a half, a day after it had fallen 1.6 percent.

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