Mumbai, India (BBN)-Sensex slumped over 300 points on weak global markets and nifty dipped below 8,550 in the early trading on Wednesday.
State Bank of India, Adani Ports, Bank of Baroda, Yes Bank, Tata Steel, Hindalco, ONGC and ICICI Bank were among the laggards in Nifty, reports NDTV.
9:24am: Sensex and Nifty staged a gap down opening in trades today on the back of weak global cues.
In the opening deals, Sensex fell 324 points to 27,553 and Nifty declined 103 points to 8,524
Asian shares stumbled and the US dollar was on the defensive on Wednesday as signs that Republican US presidential candidate Donald Trump could be closing the gap with his Democratic rival Hillary Clinton spooked investors.
Anxiety in markets has deepened over a possible Trump victory given uncertainty on the Republican candidate's stance on several issues including foreign policy, trade relations and immigrants, while Clinton is viewed as a candidate of the status quo.
Overnight, Wall Street sold off on Tuesday, with the S&P 500 closing at the lowest level since July 7, amid growing concern over the impending US presidential election and prospects for higher US interest rates.
Back home, all shares in the Nifty were trading on a weak note.
State Bank of India was the top Nifty loser, down 2 per cent to Rs 253.80. Adani Ports, Bank of Baroda, Yes Bank, Tata Steel, Hindalco, ONGC, ICICI Bank, Tata Motors, Asian Paints, HDFC and Reliance Industries were also among the laggards.
Selling pressure was visible across the board. Banking, oil & gas, pharma, metal, capital goods, auto and FMCG indices declined over a per cent each.
The broader markets were also witnessing selling pressure. The BSE mid-cap and small-cap indices fell over 1.3 per cent each.
8:50am: Sensex and Nifty are set to open with deep cuts in trades today tracking losses on the Nifty futures traded on Singapore Stock Exchange amid weak global cues.
The Nifty futures traded on Singapore Exchange also known as the SGX Nifty was down 1 per cent or 86 points at 8,562.
Meanwhile, Asian shares stumbled and the U.S. dollar was on the defensive on Wednesday as signs that Republican US presidential candidate Donald Trump could be closing the gap with his Democratic rival Hillary Clinton spooked investors.
Anxiety in markets has deepened over a possible Trump victory given uncertainty on the Republican candidate's stance on several issues including foreign policy, trade relations and immigrants, while Clinton is viewed as a candidate of the status quo.
Overnight, Wall Street sold off on Tuesday, with the S&P 500 closing at the lowest level since July 7, amid growing concern over the impending US presidential election and prospects for higher US interest rates.
Stocks pared losses after falling steeply in early afternoon trading as the S&P 500 breached a key technical level.
The tumultuous presidential race between Democrat Hillary Clinton and Republican Donald Trump has appeared to tighten in the past week after news that the FBI was investigating more emails as part of a probe into Clinton's use of a private email system.
The S&P 500 lost 14.43 points, or 0.68 per cent, to 2,111.72, its biggest single-day percentage drop since October 11.
The Dow Jones industrial average fell 105.32 points, or 0.58 per cent, to 18,037.1, and the Nasdaq Composite dropped 35.56 points, or 0.69 per cent, to 5,153.58.
Back home, foreign institutional investors sold shares worth Rs 124 crore while domestic institutional investors bought shares worth Rs 192 crore on Tuesday.
HT Media, Sundaram Fasterners, Taj GVK and Saint Gobain will be in focus today as these companies will report their September quarter earnings later in the day.
BBN/AI/ANS