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Markets plunged in opening trades, amid weak global cues, with China’s benchmark index Shanghai composite plunging over 8% after the Wall Street crashed on the Friday owing to concerns over economic slowdown in China, the world’s second largest economy.
The Sensex dropped over 1000 points below 26,400 while the Nifty slumped below 8,000 mark.
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(Updated at 8:29AM)
Markets are likely to open sharply lower, amid weak global cues, with China’s benchmark index Shanghai composite plunging over 8% after the Wall Street crashed on the Friday owing to concerns over economic slowdown in China, the world’s second largest economy.
Investors will keenly watch out for the August F&O expiry due on Thursday.
The Sensex dropped over 1000 points below 26,400 while the Nifty slumped below 8,000 mark.
__________________________
(Updated at 8:29AM)
Markets are likely to open sharply lower, amid weak global cues, with China’s benchmark index Shanghai composite plunging over 8% after the Wall Street crashed on the Friday owing to concerns over economic slowdown in China, the world’s second largest economy.
Investors will keenly watch out for the August F&O expiry due on Thursday.
Asian markets are trading under pressure, tracking the meltdown in global equity markets on fears of a china-led economic slowdown. Japan’s Nikkei, Hong Kong’s Hang Seng and China’s Shanghai have slipped between 2-8%. The early indicator SGX Nifty has plunged 2% to quote at 8,106.50 levels.
Deepening the gloom over global equity markets, Shanghai stocks tumbled 11 percent last week - their decline accelerated after a Caixin/Markit PMI survey showed Chinese manufacturing activity shrank at the fastest pace since 2009.
US shares recorded their worst single day fall in four years on the back of economic slowdown in China. The Dow Jones, S&P 500 and Nasdaq ended over 3% lower on Friday.
US shares recorded their worst single day fall in four years on the back of economic slowdown in China. The Dow Jones, S&P 500 and Nasdaq ended over 3% lower on Friday.
On Friday, The S&P barometer BSE Sensex ended 242 points down at 27,366 and the CNX Nifty barely finished at 8,300, down by 73 points. The Sensex had ended at 27,499.42 on December 31, 2014.
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Financials and Capital goods shares are likely to remain in focus on global growth concerns.
Metal stocks will be under pressure on concerns that demand would be lower on the back of sluggish economy in China, the world's largest consumer.
Metal stocks will be under pressure on concerns that demand would be lower on the back of sluggish economy in China, the world's largest consumer.
Tata Motors, Bharat Forge and Motherson Sumi are likely to react to the weakness in the Chinese shares.
In the biggest disinvestment this fiscal, the government will on Monday sell a 10 percent stake in nation's largest oil firm IOC to raise about Rs 9,500 crore.
GAIL India has begun talks with Iran to revive a decade-old $22 billion LNG supply contract, the cheapest deal ever struck by an Indian firm.
The Proton therapy centre, a cancer treatment facility to be developed by Apollo Hospitals Enterprise Ltd (AHEL) with an investment of around Rs 420 crore in Chennai, would see a delay in commissioning, owing to the delay in getting the necessary clearance.
Jindal Steel and Power is likely to bid for iron ore mines in Odisha in forthcoming auctions, which are scheduled to start in October-November this year.
