Markets

Sensex opens over 500 points down amidst negative global cues

Sensex opens over 500 points down amidst negative global cues

Asian markets tumbled on Friday, after the Wall Street suffered yet another big slide. It was trading at 34,565.03 by surging 482.32 points, or 1.41 per cent at 1230 hrs.The index had lost 113.23 points in the previous session following the Reserve Bank's decision to leave interest rates unchanged that caught the market by surprise.

The rupee rupee opened at 64.42 a dollar and went down to 64.43 - a fresh two-month low against the United States dollar.

"Global carnage center-staged in the morning as the U.S. markets closed at record lows of 1,000 points down on Dow Jones". While the Sensex opened over 500 points down at 33,911.17, Nifty also opened on a negative note. Tokyo's benchmark index plunged more than two percent on Friday after European and USA stocks suffered big drops as volatility continued to dog equity markets. This decline usually occurs over a two-to three-month period, The Washington Post reported.

GBPEUR: Pound to Euro - GBP spikes on hawkish BoE report….
If one isn't agreed on around that time, he said the bank will assess the impact on economic confidence and business activity. Policymakers unanimously made a decision to maintain the quantitative easing at GBP 435 billion.

Investors are reportedly concerned about rising inflation, which is forcing central banks to raise interest rates.

The volume chart was led by HDFC FMP - 1132 D - February 2016 (1) - Series 35 - Direct Plan - Growth with trades of over 100.00 million shares. The broad-based S&P 500 sank 3.8 per cent to 2,581.00, while the tech-rich Nasdaq Composite Index plunged 3.9 per cent to 6,777.16. This makes borrowing money more expensive for companies and consumers, hampering economic activity.


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