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Benchmark equity indices, BSE Sensex, and NSE Nifty50 ended Wednesday’s choppy session in negative territory, dragged by negative global sentiments, and selling across sectors.
The BSE Sensex shed 398.13 points or 0.49 per cent to settle at 81,523.16. the index traded in the range of 81,423.14 to 82,134.95 on Wednesday.
Meanwhile, the NSE Nifty50 dropped 122.65 points or 0.49 per cent to end at 24,918.45, trading in the range of 24,885.15 to 25,113.70 on Wednesday.
Market View by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
A significant trend in the global commodity markets now is the sharp decline in the crude price and softening of base metal prices. This has implications for stock markets. The sharp dip in Brent crude to below $70 signals weakening demand globally, which in turn, indicates weakening growth prospects for the global economy.
Global Cues
Asian stocks wobbled on Wednesday, while oil prices loitered around three-year lows on concerns over a weak demand outlook.
Japan’s Nikkei 225 shed 0.7 per cent and the Topix was down 0.86 per cent, while South Korea’s Kospi slipped 0.20 per cent. However, the small-cap Kosdaq rose 1.61 per cent.
Australia’s S&P/ASX 200 was marginally higher and Hong Kong’s Hang Seng index futures were at 17,072, lower than the HSI’s last close of 17,190.
