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
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.
Subscribe To Our Daily Newsletter And Get News Delivered Straight To Your Inbox.