Markets Slide After 2-Day Rally on Weak Global Cues

More pain may be in store for stock markets in India in the coming days if the global backdrop remains weak

1 min read
Markets back in red after two days of gains (Photo: Reuters)

Markets reversed gains made in the previous session, but pared the 400-point loss clocked in morning trade. The Nifty ended a tad below 7,800 while the Sensex lost 100 points or 0.4% to end at 25,622, at the close.

Tata Motors, Bajaj Auto, L&T, BHEL and ICICI Bank are the top gainers on the Sensex while the losers include Hindalco, HUL, Wipro, Dr Reddy’s and HDFC.

Asian markets remained under pressure after Standard & Poor’s downgraded Brazil’s credit rating to junk grade earlier today, and slashed its growth forecast for Asian economies. Overnight, US markets too ended with deep cuts.

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