LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Sensex, Nifty slip nearly 3% this week on global cues

The BSE Sensex has shed around 1,900 points and the NSE Nifty over 500 points since the start of this month

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Sensex, Nifty slip nearly 3% this week on global cues
The wider Nifty50 of the National Stock Exchange closed the week`s trade at 10,454.95 points. Image source: IANS
Written By: Bivekananda Biswas
Updated: Sun, Feb 11, 2018
11:22 am
ZeeBiz WebDesk
RELATED NEWS
Bears ain't giving up! Sensex cracks over 500 points, Nifty dips below 10,400 Bears ain't giving up! Sensex cracks over 500 points, Nifty dips below 10,400

The Indian equity markets turned bearish for the second consecutive week, with the BSE Sensex dropping over a 1,000 points and the Nifty50 index over 300 points following a massive global sell-off.

BSE Sensex tanked 1,060.99 points or 3.02 % this week to close trade at 34,005.76 points while Nifty50 of the National Stock Exchange (NSE) closed the week`s trade at 10,454.95 points, shedding 2.84% from its previous week`s close.

The BSE Sensex has shed around 1,900 points and the NSE Nifty over 500 points since the start of this month.

Across the global markets like US, Asia and Europe indices tanked sharply, with the US market declining over 4% on Friday on onconcerns over rising inflation and bond yields, sparked by jobs report. US bond yield spiked to 4-year high of 2.88% on expectation of US Fed hike in interest rate in the next policy meeting. 

There was a selling pressure across the global markets. Nikkei and Hong Kong Index nosedived 2.5% and 4%, respectively, and  China index slipped 4%. 

European market declined after the Bank of England said interestrates probably needed to rise sooner than previously expected. IndiaVIX gained over 8% at 19.23 due to increased intra-day market volatility.

However, market recovered partially from the intra-day low after US Future gained. 

Auto, banking & NBFC, FMGC, tech and pharma stocks declined. However, metal stocks witnessed fresh buying. Both mid-cap and small-cap indices bounced back into positive territory. 

Nifty 500 stocks advance-decline ratio was nearly 1:1 despite which Nifty declined 122 points.

Nifty Future closed negative with the losses of 0.83% at 10,485. On the option front, maximum Put open interest (OI) was at 10,000 followed by 10,500 strike while maximum call OI was at 11,100 followed by 11,000 strike. 

Major call writing was seen at all the strikes from 10,400 to 10,700 strikes while Put unwinding was seen at10,500, 10,600 and 10,800 strike. Fresh Put writing was also being witnessed at lower strikes like 10400, 10100 and 10200. 

Option data suggests that trading range was slightly shifting lower and upside was restricted because of negative global cues, higher volatility and fresh Call writing activities. 

India VIX moved up by 8.55% at 19.29. Higher volatility could continue to keep volatile swings in the market with limited upside, according to brokerage Motilal Oswal. 

Built up of long positions were seen in Hindpetro, Hindzinc, SAIL, Torntpharma, DCB Bank, Cipla and Reliance capital while shorts were seen in Glenmark, Indusind Bank, Srtransfin, HDFC Ltd, PCJeweller, IDEA, ICICI Bank and Heromotoco.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
global sell-offIndian equity marketsBSE SensexBank NiftyInfraFMCGauto indices
RELATED NEWS
Bears ain't giving up! Sensex cracks over 500 points, Nifty dips below 10,400 Bears ain't giving up! Sensex cracks over 500 points, Nifty dips below 10,400

LATEST NEWS

In chat with Anil Singhvi, Sandeep Jain picks IOL Chemical and Pharmaceutical for bumper returns

Anil Singhvi picks Strides Pharma as his 'SIP STOCK' today, know the reason WHY

Shravan Rathod of Nadeem-Shravan fame DIES due to Covid 19-related complications

Goa Board Exam 2021 Postponed Latest News: Revised GBSHSE class 10 class 12 exams dates to be notified later - check details here

​Maharashtra govt comes out with new precautionary measures - check list of restrictions here

PUBG Mobile 1.4 update: Check global version beta update APK download link for worldwide users

LIC policy holders' alert: Check policy, premium status online through these steps; Send SMS on THIS number to check other details

JPMorgan on Aurobindo Pharma stock re-rating trigger and target price

L&T construction bags order in 'significant category ranging between Rs 1,000 crore and Rs 2,500 crore from Oilfields Supply Company Saudi

Amarnath Yatra registration suspended; window to register for 56 day-yatra to reopen after assessing Covid-19 situation on later date

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved