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Equity, currency, commodity markets are closed today for Dussehera

On Wednesday, the S&P BSE Sensex lost 383 points or 1 per cent to settle at 34,780 while the broader Nifty50 index lost 132 points or 1.24 per cent to end at 10,453.

SI Reporter  |  New Delhi 

SMEs, banks, foreign exchange, markets, forex, small and medium price industries,
SMEs at large do not understand forex and the concept of hedging, which banks often exploit. (PDussehraock)

The domestic equity, currency, debt and commodities will be closed today on account of Dussehera. Trading will resume on Friday.

On Wednesday, the S&P lost 383 points or 1 per cent to settle at 34,780 with YES Bank being the top loser (down nearly 7 per cent) and ITC (up over 1 per cent) the top gainer. The broader NSE's Nifty50 index lost 132 points or 1.24 per cent to end at 10,453.

Bank came under pressure on the back of weekly expiry. The Bank Index fell 401 points or 2 per cent to settle at 25,189. Auto too tumbled during the session with the Auto index ending 3 per cent lower at 8,835.

Among individual stocks, Reliance Industries (RIL) ended over 1 per cent lower at Rs 1,149 ahead of its Q2 results.

On the other hand, shares of NIIT Technologies rose 6% to Rs 1,199 on the after the company reported a strong 29% sequential growth in its consolidated net profit at Rs 1,167 million in September quarter (Q2FY19). The information technology company had reported a profit of Rs 904 million in the same quarter last fiscal.

GLOBAL MARKETS

Asian were capped and the dollar rose to a one week-high in early Thursday trade after the minutes of the Federal Reserve’s latest meeting showed broad agreement among board members on the need to raise borrowing costs further.

MSCI broadest index of Asia-Pacific shares outside Japan fell 0.2 per cent, while the Australian benchmark also dropped 0.2 per cent.

Japan's Nikkei average was flat and appeared to struggle for headway. Data out earlier in the day showed exports from the world's third-biggest economy dropped for the first time since late 2016, hit by declines in shipments to the United States and China.

The minutes from the Fed’s Sept 25-26 meeting showed every Fed policymaker backed raising interest rates last month and also generally agreed borrowing costs were set to rise further, despite U.S. President Donald Trump’s view that the tightenings have already gone too far.

(with Reuters input)

First Published: Thu, October 18 2018. 08:25 IST
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