- European stocks staged a relief rally today, rebounding from lows seen on Friday when Wall Street slumped to levels not seen since August last year.
- The pan-European STOXX 600 traded over 1 percent higher, with all major indices trading in the black despite the volatility seen in Asia markets earlier today.
- Markets have suffered one of the worst starts to the year on record, with European stocks slumping to their lowest level since mid-December 2014 on Friday amid investor fears of the strength of the global economy.
- The market continued to be under pressure amid consolidation despite positive trend in European peers. The Sensex fell 76.39 points to 24378.65 and the Nifty declined 21.85 points to 7415.95.
- The broader markets saw major fall compared to benchmarks. The BSE Midcap was down 1.4 percent and Smallcap tanked 2.7 percent.
- The market breadth remained pathetic as about six shares declined for every share advancing on the Bombay Stock Exchange.
- Nifty PSU Bank index outperformed market, up more than 1 percent supported by Syndicate Bank, Bank of Baroda, Oriental Bank of Commerce, Allahabad Bank, Indian Overseas Bank and SBI that rallied 1-3 percent.
- The Nifty hit a new 19-month low on Monday as concerns about the global economy are mounting after crude fell to its lowest since 2003, while data showed the country's exports shrunk for a thirteenth straight month.
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