Markets retreat from record highs on Trump tremors
Equities went into a tailspin on Thursday after a three-session surge, with benchmark Sensex plunging 224 points and Nifty closing below 9,500, as global markets were roiled by the latest crisis surrounding US President Donald Trump.
Asian markets nosedived, tracking the biggest single- session slump in US shares in eight months yesterday on fears that the controversy over the firing of the FBI chief may scuttle Trump’s pro-business agenda and even lead to his impeachment, brokers said.
The global volatility added to the caution in domestic market, which was already in an over-bought position following the recent record-setting spree and succumbed to profit booking, they added.
The 30-share Sensex stayed in the negative zone throughout the session and hit a low of 30,393.72, before settling at 30,434.79, down 223.98 points or 0.73 per cent.
It had gained 470.62 points back-to-back in the previous three sessions to hit record highs.
Likewise, the 50-scrip NSE barometer Nifty plunged 96.30 points, or 1.01 per cent, to close at 9,429.45 after shuttling between 9,418.10 and 9,489.10.
Foreign portfolio investors (FPIs), after remaining buyers for the past few sessions, sold shares worth a netRs Rs 731.39 crore yesterday, as per provisional data. Domestic investors, on the other hand, purchased shares worth a net Rs 614.51 crore.
- Business Corner 23 Mar 2018 | Pioneer
- FinMin asks non-compliant NBFCs to register with FIU 23 Mar 2018 | PTI
- ‚ÄėCAD may treble to $10-12bn in Q4 on higher trade deficit‚Äô 23 Mar 2018 | PTI
- Campaign against dangers of second-hand smoke exposure launched 23 Mar 2018 | PNS
- PNB issued over 41k LoUs since 2011, says FinMin 23 Mar 2018 | PTI
- Need to take urgent measures to streamline cross-border trade, PMO to Commerce Ministry 23 Mar 2018 | PTI
- FinMin says merger of 3 PSU insurers to improve solvency 23 Mar 2018 | PNS
- US Fed hikes key interest rate; says economic outlook stronger 23 Mar 2018 | PTI
- No violation in Rs 7,266-cr bid for Binani Cement under IBC, claims UltraTech 23 Mar 2018 | PNS
- Sensex, Nifty drop as trade war fears grip Dalal Street 23 Mar 2018 | PNS
Sunday EditionView All
18 Mar 2018 | PNS
AAI conducts international workshop for utilizing GAGAN In keeping with the Prime Minister’s objective of using technology as a means of development and co-operation, Airports Authority of India has now offered GPS-aided Geo Augmented Navigation (GAGAN) to SAARC and Southeast Asian countries in order to allow them to reap the significant benefits that accrue from such an advanced navigation system. AAI conducted a two-day workshop on March 15 and 16, 2018...
STATE EDITIONSView All
23 Mar 2018 | Staff Reporter | Bhopal
A proposal to set up two centres of excellence, one in floriculture and another in citrus fruits, in Madhya Pradesh with the cooperation of Israel is awaiting the Centre's green-signal. While talking to media persons here on Thursday, Israel Consul General in Mumbai Yaakov Finkelstein told, “India and Israel are working on to strengthen the partnership and cooperation in the fields of agriculture and water...