Sensex falls over 410 pts to slip below 61k-level; Nifty retains 18,000
时间:2024-06-26 14:16:51 阅读(143)
Equity benchmark Sensex declined over 410 points to close below the 61,000-mark on Thursday, tracking weakness in M&M, Bajaj Finserv and Reliance Industries amid widespread selling pressure in global markets. A depreciating rupee also put pressure on domestic equities, traders said. In a subdued session, the 30-share BSE Sensex ended 419.85 points or 0.69 per cent lower at 60,613.70. The index moved between a high of 60,848.73 and a low of 60,425.47.
On similar lines, the broader NSE Nifty fell 128.80 points or 0.71 per cent to end at 18,028.20. Axis Bank was the biggest loser in the Sensex pack, shedding 3.54 per cent, followed by Bajaj Finserv, Titan, M&M, Bajaj Finance and IndusInd Bank. In contrast, HDFC twins, Bharti Airtel, Kotak Bank, Dr Reddy’s and HUL were the gainers, climbing up to 1.13 per cent.
Elsewhere in Asia, bourses in Shanghai, Tokyo, Seoul and Hong Kong closed with significant losses. Stock exchanges in Europe too were trading in the negative territory during the afternoon session. International oil benchmark Brent crude slipped 0.06 per cent to USD 92.59 per barrel. The rupee depreciated by 30 paise to close at 81.77 (provisional) against the US dollar on Thursday. Foreign institutional investors (FIIs) remained net buyers in the Indian capital market on Wednesday, as they bought shares worth Rs 386.83 crore, as per exchange data.
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- falling around 8% last week to more than three-week lows as jitters over major economies outweighed signs of a demand recovery in China, the world’s top oil importer. Brent crude futures crawled up 16 cents, or 0.2%, to $80.10 a barrel at 0022 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 15 cents, also 0.2% higher, to $73.54 a barrel.
Last Friday, WTI and Brent slid 3% after strong U.S. jobs data raised concerns that the Federal Reserve would keep raising interest rates, which in turn boosted the dollar. While recession fears dominated the market last week, on Sunday International Energy Agency (IEA) Executive Director Fatih Birol highlighted that China’s recovery remains a key driver for oil prices.
“If demand goes up very strongly, if the Chinese economy rebounds, then there will be a need, in my view, for the OPEC+ countries to look at their (output) policies,” Birol told Reuters on the sidelines of a conference in India.Price caps on Russian products took effect on Sunday, with the Group of Seven (G7), the European Union and Australia agreeing on caps of $100 per barrel on diesel and other products that trade at a premium to crude, and $45 per barrel for products that trade at a discount, such as fuel oil.
“For the moment, the market expects non-EU countries will increase imports of refined Russian crude, thus creating little disruption to overall supplies,” ANZ analysts said in a client note. “Nevertheless, OPEC’s continued constraint on supply should keep the market tight,” they said.
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