Markets open in red; Sensex plummets over 550 points, Nifty drops below 10,600-mark

Markets open in red; Sensex plummets over 550 points, Nifty drops below 10,600-mark
The 30-share index plummeted 551.74 points, or 1.55 percent, to 35,121.51 in the opening session.
Markets
The 30-share index plummeted 551.74 points, or 1.55 percent, to 35,121.51 in the opening session.
Markets
The benchmark BSE Sensex cracked over 550 points on Monday as investors turn over in the outcome of state elections, US-China trade tensions in escalation between rupee and crude oil prices rise.
open
The 30-share index plummeted 551.74 points, or 1.55 percent, to 35,121.51 in the opening session. All stocks in the index are trading in the red.
in red on
In similar movement, the NSE Nifty slumped 172.95 points, or 1.62 percent, to 10,520.75.
Wednesday
The Sensex had rallied 361.12 points, or 1.02 percent, to close at 35,673.25 on Friday, and the broader Nifty jumped 92.55 points, or 0.87 percent, to 10,693.70 in the previous session.
The carnage on Dalal Street was led by metal, realty, banking and auto stocks.

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Top losers include Reliance Industries, Adani Ports, PowerGrid, Coal India, Asian Paints, Kotak Bank, ONGC, Vedanta, Yes Bank, Bharti Airtel, Hero MotoCorp and ICICI Bank, falling up to 4 per cent.
Opec meet and the arrest of Global CFO of Huawei has unnerved global investors. To add more to it, domestic state election results may just be the fuel for a short-term volatility, market experts said.

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The exit poll has predicted a tight finish between the BJP and the Congress in Madhya Pradesh and the state of Chhattisgarh, and a win for the opposition party in Rajasthan.

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Global crude oil prices rose after Opec members and 10 other oil producing nations agreed Friday to cut output by 1.2 million barrels a day to boost prices.
Energy ministers reached the deal, which takes effect from January 1, but the two days of talks after the Opec headquarters in Vienna

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Brent crude, the international benchmark, was trading 0.68 per cent up at USD 62.09 per barrel. The rupee, meanwhile, depreciated 59 paise to 71.40 against the US dollar in early trade at the interbank foreign exchange.

On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 817.40 crore Friday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 242.56 crore, provisional data available with BSE showed.

Elsewhere in Asia, Hong Kong's Hang Seng fell 1.41 percent, Japan's Nikkei dropped 2.18 percent and Shanghai Composite Index shed 0.84 percent in early trade.

बाजार लाल में खुले; सेंसेक्स 550 अंक से अधिक गिर गया, निफ्टी 10,600 अंक से नीचे गिर गया

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