ECONOMY ANALYSIS
- Sensex crashes 855 pts; Nifty cracks 251 pts; ONGC bleeds
- Gold prices firm above $1,200 on safe-haven bids
- Eveready hikes battery prices; to grow 10-15% in FY15: ED
MARKET ANALYSIS
- Shares slumped more than 3 percent on Tuesday, posting their biggest daily loss since the rupee crisis in 2013 as a continued slide in oil prices hit emerging markets, sending blue-chips such as State Bank of India BSE -4.05 % sharply lower.
- The BSE index declined 3.07 percent and the broader NSE index 3 percent, their biggest daily per centage fall since Sept. 3, 2013, when the rupee was still reeling from its worst market turmoil since the 1991 balance of payment crisis.
- Blue-chips led losses as global shares sank on the back of a continued slide in oil prices that is raising concerns about the health of the global economy. ICICI Bank BSE -4.20 % lost 4.2 per cent, State Bank of India fell 4.1 percent while Infosys BSE -1.99 % fell 2.1 percent.
- Oil explorers declined, tracking the fall in US crude oil prices. Reliance Industries BSE -4.67 % fell 4.5 percent, while Oil and Natural Gas BSE - 5.89 % Corp slumped 5.7 percent.
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