You are here: Home » News-CM » Equities » Market Report
Business Standard

Domestic shares may witness steep selling amid global rout

Capital Market 

Trading of 50 index futures on the stock exchange indicates that the could slump 255.50 points at the opening bell amid selloff in global stock markets.

Overseas, Asian shares slumped on Thursday after Wall Street suffered its worst drubbing in eight months.

Trading in US index futures indicated that the could slump 220 points at the opening bell today, 11 October 2018.

US stocks slumped to close sharply lower Wednesday as the sank and the had its worst day since February as went into a freefall. Investors spooked by rising bond yields dumped equities in all sectors, triggering a broad market rout. The surge in bond yields made stocks look less attractive compared to bonds while also threatening to curb economic activity and profits.

reportedly knocked the for continuing to raise interest rates despite some recent market turbulence. Trump's comments on the central Wednesday came a day after he said he did not like what they were doing in terms of monetary policy.

In the latest US economic data, the producer-price index rose 0.2% in September, while the core PPI was up 0.4%. Separately, wholesale inventories in the US rose 1% in August.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 1096.05 crore on 10 October 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1,892.94 crore on 10 October 2018, as per provisional data.

The market spurted on Wednesday led by rally in financial shares. Gains were triggered by value buying after recent steep fall in share prices. The central bank's decision to inject liquidity into the system through purchase of government bonds also improved sentiment. The Sensex rose 461.42 points or 1.35% to settle at 34,760.89. The 50 index rose 159.05 points or 1.54% to settle at 10,460.10.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, October 11 2018. 08:03 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU