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Tuesday, February 6, 2018

Sensex off opening lows, down 900 pts; Nifty Midcap slips 3%

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Benchmark indices recouped some opening losses, with the Nifty getting back above 10,400 levels on short covering in heavyweights.

The 30-share BSE Sensex was down 873.06 points or 2.51 percent at 33,884.10 and the 50-share NSE Nifty fell 261 points or 2.45 percent to 10,405.50.

About 13 shares declined for every share rising on the BSE.

The Indian rupee opened lower at 64.36 against the US dollar, down 29 paise or 0.46 percent from previous settlement.

Motilal Oswal said the Q3FY18 earnings season has so far been broadly in line with expectations on headline numbers. Of the 33 Nifty companies that have declared their earnings results, 23 have either met or exceeded our estimates.

All global markets caught in bear trap but only gold, which is always safe haven bet for investors, started inching higher.

Asian indexes tumbled early on Tuesday, mirroring massive losses seen stateside in the last session when the Dow fell more than 1,100 points and the S&P saw its worst day in six years, reports CNBC. Japan's Nikkei 225 was down 4.95% as stocks across sectors pulled back. Automakers, financials and technology names were lower in the morning, with Toyota down 3.77%.

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