Asian markets plunge after Dow Jones closes down by over 1000 points

Feb 11, 2018, 04:04
Asian markets plunge after Dow Jones closes down by over 1000 points

The BSE Sensex dived on Friday by 407.40 pointsto end negative at 34,005.76 due to profit-booking in select stockssuch as Energy, Finance, Telecom and Bankex amidst weaker global cues.

Nifty50 was trading at 10,407 points and was down by 169 points of 1.60%. Sensex is down by 500 points, and broader Nifty is down by 150 points. Investors had been selling riskier assets for the safer greenback amid stock market turmoil.

Wall Street tumbled back into sell-off mode, with the Dow plunging more than 1,000 points as worries over interest rate hikes continued to drag the market down.

The Shanghai Composite index too fell 4.23% at 3,123.95 and the Singapore-based SGX Nifty index was at 10,420.00 points, down 1.34%.

Furthermore, the yields on USA benchmark 10-year treasury note hit a four-high high of 2.885 per cent on Monday and touched 2.884 per cent on Thursday.

On the other hand, Tata Steel (1.83%), Dr Reddy'S Laboratories (0.73%), Asian Paints (0.67%), Hindustan Unilever (0.57%), and Tata Consultancy Services (0.20%) were the biggest gainers in the Sensex.

While metal, realty, power and consumer durables ended higher.

The BSE market breadth was bullish with 2,197 advances and 625 declines.

Broader markets, however depicted a mixed trend as the mid-cap index fell 0.09 per cent, while small-cap up 0.23 per cent.

At 10.35 am, the Nikkei 225 index in Japan was trading at 21,324.91, 565.95 points. or 2.59% lower while the Hang Seng index in Hong Kong was trading at 29,422.99, 1,028.28 points, or 3.38% lower.