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Sensex, Nifty join global selloff on spike in crude oil prices, FII outflows
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....ensex, Nifty join global selloff on spike in crude oil prices, FII outflows <br>PTI News<br>Dated:- 13-1-2025<br>PTI<BR>Mumbai, Jan 13 (PTI) Equity benchmark Sensex cracked over 1,000 points to dive below the 77,000 level on Monday, tracking heavy selling in global equities and a spike in international crude prices. A strong US jobs data that dampened early rate cut expectations, the rupee loggin....
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....g its steepest single-day fall in nearly two years and unabated foreign fund outflows also dampened investors' sentiment. Falling for the fourth straight session, the 30-share BSE benchmark Sensex tanked 1,048.90 points or 1.36 per cent to finally settle at 76,330.01. During the day, it plunged 1,129.19 points or 1.45 per cent to 76,249.72. The NSE Nifty dropped 345.55 points or 1.47 per cent to....
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.... close at 23,085.95. From the 30-share blue-chip pack, Zomato cracked nearly 7 per cent. Power Grid, Adani Ports, Tata Steel, NTPC, Tata Motors, Tech Mahindra, Mahindra & Mahindra, Asian Paints, Sun Pharma and UltraTech Cement were the other major laggards. In contrast, Axis Bank, Hindustan Unilever, Tata Consultancy Services and IndusInd Bank were the gainers. "The global markets witnessed a s....
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....ignificant sell-off, prompting a similar response in domestic markets due to strong US payroll data suggesting fewer rate cuts in 2025. This has strengthened the dollar, driven up bond yields, and made emerging markets less attractive. Recent GDP downgrades and slowing earnings amidst higher valuations are weighing heavily on market sentiment," Vinod Nair, Head of Research, Geojit Financial Servic....
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....es, said. In Asian markets, Seoul, Shanghai and Hong Kong settled lower. Markets in Japan were closed for a holiday. European markets were quoting in the red. US markets ended in the negative territory on Friday. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,254.68 crore on Friday, according to exchange data. Foreign investors have withdrawn Rs 22,194 crore from Indian eq....
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....uities so far this month. "US imposing sanctions on Russian oil exports pushed the rupee to a fresh low against the dollar, which in turn triggered massive correction in domestic equity markets as overseas investors continued to desert the local share market. Wide-spread selling across the sectors fuelled along with massive exits in mid and smallcap stocks further worsened the sentiment. "Rising....
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.... crude oil prices would raise concerns of a spike in domestic inflation, which could further delay any rate cut hopes from the RBI in the near to medium term," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said. Global oil benchmark Brent crude jumped 1.43 per cent to USD 80.90 a barrel. The rupee logged its steepest single-day fall in nearly two years and ended the session 58 paise....
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.... down at its historic low of 86.62 (provisional) against the US dollar on Monday. India's industrial production (IIP) growth accelerated to a six-month high of 5.2 per cent year-on-year in November 2024, riding on the increased festive demand and pick up in manufacturing sector, according to the official data released on Friday. The BSE benchmark Sensex declined 241.30 points or 0.31 per cent t....
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....o settle at 77,378.91 on Friday. The Nifty dropped 95 points or 0.40 per cent to 23,431.50. PTI SUM SUM BAL BAL<BR> News - Press release - PIB....