Sensex, on Thursday, fell 439 points to end at 27,643.Markets closed lower as investors got jittery after China’s steel exports declined unexpectedly and the minutes of US Federal Reserve Open Market Committee (FOMC) indicated a strengthening the case for a rate hike. Investors were also cautious ahead of the September retail inflation data that were released after market hours. Among sectors Bankex, Reality, Metal FMCG and Power lost in the range of 1.8%-2.2% whereas only IT gained to close at of 0.2% higher. Among stocks, Adani Port, HDFC, ICICI Bank, Reliance, Tata motors lost over 3.2% to 4.7% each while Infosys gained 2.2%. Market breadth was negative with 887 advances against 1,977 declines.
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Nifty fell135 points and closed at 8,573. Today we expect the markets to open in green on the back of positive global cues.
US Markets, ended the day on a negative note. Dow closed 0.25% down while Nasdaq lost 0.5%. Investors have grown pessimistic on financial stocks a day before JPMorgan Chase & Co. and Citigroup Inc. deliver their latest earnings reports. US markets, today, will see data releases on Core Retail Sales m/m, Retail Sales m/m, and Core PPI m/m.
Asian markets are trading on a positive note; Nikkei is trading flat, while Hang Seng is trading 0.4% up. SGX Nifty is trading 13 points up at 8,586. Indian ADRs ended the day on a mixed note. Among financial ADRs, ICICI Bank closed 3% down, while HDFC Bank lost 0.67%. Among IT ADRs, Wipro closed 2.27% higher, while Infosys gained 4.5%. Tata Motors ADR fell 2.33%.
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