Sensex Crash: 5 reasons why Sensex is falling today
Feb 07, 2018, 00:59
The benchmark 10-year bond yield was down 3 basis points at 7.57 percent, after last week posting its biggest weekly decrease since February 2017.
At the closing bell, the key equity indices recovered but ended in the red.
With stunning gains in January, even after the carnage in the first session of February, benchmark Sensex and Nifty are down only 1% and 1.7%, respectively, so far this year.
Taiwan shares lost 5%, its biggest since in 2011 and Hong Kong's Hang Seng Index dropped 4.2%.
Indian stock markets were already under pressure after the government re-introduced LTCG-tax on equities in Budget-2018. However, Finance and Revenue Secretary, Hasmukh Adhia clarified the Indian government's stance and was quoted by The Times of India as saying that though the local markets were weak due to global markets being weak, the government would look into the situation.
Nifty 50 fell 307.95 points, or 2.89 percent, to 10,358.60. Asian markets saw a big decline today, following Friday's Wall Street selloff, with Japan's Nikkei falling almost 2.5 per cent.
The NSE Nifty index was trading 334 points down at 10,333, while the BSE Sensex was 1099 points down at 33,659 around 10:10 am (IST). The LTCG will essentially levy a 10 per cent tax on income gained via the equities market, and could have turned investor sentiment negative.
On Monday, the BSE Sensex was down by almost 310 points to a three-week low and the Nifty by 94 points at closing bell on heavy selling, mainly in banking, capital goods, and IT counters.
Commenting on the market crash, Finance and Revenue Secretary Hasmukh Adhia said that the domestic market was mimicking weakness in global markets and it can not be attributed to LTCG tax levied in the Budget. Among IT stocks, HCL Technologies (down 3.46%), Tech Mahindra (down 3.35%), TCS (down 3.16%), Infosys (down 2.25%), Oracle Financial Services Software (down 1.84%) and Wipro (down 0.97%) edged lower. On Monday, Wall Street recorded its biggest decline since 2008.
Frazier and the Yankees would embrace the symbol as their own, frequently giving one another a thumbs down after reaching base. The fact that the Mets signed a third baseman means they don't have high hopes for David Wright contributing in 2018.
It was the 10th time in the past 11 seasons that a quarterback won the award, a streak broken only by Adrian Peterson in 2012. Should Brady actually win, it would be the third of his career and only Peyton Manning, at five, would have more .
He did a lot of work by himself which has been well publicised. "He has some real ability and has a great attitude to go with it". Jones said: "We've had two really good training weeks and we feel this is the 23 that can start the tournament with a bang".
Despite losing the first leg at Espanyol , 1-0, Barcelona won the tie thanks to a 2-0 victory in Camp Nou . But, with Ernesto Valverde throwing Messi into the fray Barcelona did manage to get back on to level terms.
He asked them to chalk out plans to get the maximum benefits from the schemes announced by the Centre for all the states. People are dissatisfied because there is no specific mention of state issues in the Union Budget.
The 27-year-old scalped his maiden ODI five-wicket haul, dismissing the likes of Quinton de Kock , JP Duminy, and Khaya Zondo. However, India were simply too good for them on Thursday night with Kohli recording his 18th century in successful chases.
Wales scored another two tries in the second half to just the one from Russian Federation to win 33-7 in the end. The USA brought Papua New Guinea back down to earth with a 42-12 thrashing in their Challenge trophy semifinal .
Monday's data completes a hat-trick of worse than forecast PMI surveys for the three major sectors of the British economy. GETTYThe index from IHS Markit was expected to inch higher from 54.2 to 54.3, but instead dropped to 53.
Lallana will be allowed to play for the senior team as the rule states that the ban will only be served at the U23 level. The midfielder was sent off in the 63rd minute with Spurs leading 1-0, after reacting angrily to a challenge from Marsh.
The next Call of Duty game in 2018 will be Call of Duty Black Ops 4 , according to a self-proclaimed "industry insider". The Nintendo Switch version will be ported by a development studio who is familiar with the Call of Duty franchise.
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