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MARKET WRAP: Sensex slides 642 pts amid rise in oil prices; autos worst hit

All that happened in markets today

SI Reporter New Delhi
hare brokers react to falling stock prices on screens of computers and television

3 min read Last Updated : Sep 17 2019 | 3:56 PM IST

3:54 PM

Here's how sectoral indices on the NSE performed today

3:53 PM

MARKET CHECK | S&P BSE Heatmap at close

3:39 PM

CLOSING BELL

The S&P BSE Sensex lost 642 points or 1.73 per cent to end at 36,481.09 levels while NSE's Nifty50 index ended at 10,818, down 186 points or 1.69 per cent.

3:27 PM

MARKET CHECK | Nifty Bank bleeds nearly 750 pts

2:59 PM

Sector watch | Nifty Bank declines more than 600 pts

2:52 PM

MARKET ALERT | 36 Nifty companies trade below 200-DMA

(Via CNBC TV18)

2:50 PM

CURRENCY CHECK | Rupee approaches 72/USD

(Source: Bloomberg)

2:41 PM

Market check | Buying on dips helps Sensex recover partially

2:39 PM

COMMENT :: Chris Midgley, global head of analytics, S&P Global Platts

S&P Global Platts Analytics forecast Dated Brent prices are likely to test the high $70s as currently supported by fundamentals. Price could move higher if Saudi production is confirmed to be curtailed for a more substantial period – but this is not our current assumption. However - it is legitimate to ask whether $80 Dated Brent could tip an already weakening global economy into recession. 

Prior to the attacks on Saudi Aramco, S&P Global Platts Analytics previous research shows a 35% chance of recession and questioned whether the spike in Dated Brent as a result of IMO2020 could be the tipping point. A $20/bbl increase in oil prices reduces global GDP by 0.35%.
 
The global economy has already weakened significantly over the past 9 months, and is currently estimated to be growing at 2.9%, well below the long-term trend. Normal recessions have in the past produced global GDP growth rates between 2.0% and 2.3%. In the post-world-war period, only the Recession in 2008-2009 produced negative economic growth rates globally. Therefore, the global economy could be pushed very close to a normal recession territory if oil prices test $80/bbl 


2:35 PM

Nomura on oil prices

On one hand, OPEC and Russia have some room to increase supply, and oil inventories can also be tapped to fill the temporary void from the lost Saudi production (and all this is happening against a backdrop of weakening global growth). If this truly is a temporary, one-off disruption, then oil prices could stabilise near current levels. On the other hand, if there is strong retaliation or more drone attacks, the situation could spiral out of control; in the worst case, it could escalate into a full-blown crisis in the Middle East and lead to larger and more permanent oil supply declines.

2:32 PM

Bank stocks among top losers today

2:28 PM

Most Energy stocks slip as crude oil price rises

2:26 PM

Sensex heat map

(Source: BSE)


2:26 PM

NEWS ALERT | PMLA Appellate Tribunal releases assets of 63 Moons from ED attachment: CNBC TV18

-- Restrains 63 Moons from dealing in the assets till pendency of other issues at PMLA court

2:24 PM

NEWS ALERT | NHPC Board approves raising up to Rs 2,500 cr in FY20: BSE Filing

Topics :MarketsMARKET WRAP

First Published: Sep 17 2019 | 7:29 AM IST