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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Markets end deep in the red 
(Thu, 26 Mar Closing) 
 
Indian markets witnessed a huge sell-off as BSE-Sensex fell over 700 points while NSE-Nifty fell over 200 points before closing the day with losses of 654 points and 188 points. All the sectoral indices, barring Capital Goods, witnessed a sell-off as investors got wary of magnitude of war that has taken place in Yemen. S&P BSE Midcap and S&P BSE Smallcap, however, escaped from the worst as they lost 0.7% and 1%, respectively. Sectors that lost the most include Banks, IT and Metals.

All the commodities have witnessed investor attention as the war of Yemen weighed on the markets. Gold prices, per 10 grams, gained 1.4% and are available at Rs 26,845, Rs 362 higher than previous close; while silver prices surged 1.8% and per kilogram is available at Rs 38,830. Crude oil prices gained as much as 5.3% but pared early gains. Currently, per barrel the crude oil is trading with gains of 4.5% or Rs 139 at Rs 3,233. Indian rupee showed a lot of volatility as its movement depends on factors like gold prices and crude oil prices. Air strikes in Yemen had a domino effect on Indian currency as well. US Dollar gained 0.50% while the Euro and Great British Pound gained about 0.80%. Currently, the Indian Rupee is trading at Rs 62.64, Rs 69.05 and Rs 93.57 against the US Dollar, Euro and GBP respectively.

International markets tumbled owing to the ongoing strikes on Yemen. European markets' top economies which includes Germany and France have tumbled 1.5% and 1.3%, respectively. US Futures, which are being currently traded on the exchange, are also trading weak. While S&P 500 Futures are trading with 0.7% losses, Dow Jones Futures have lost 0.8%.

While most of the telecom companies witnessed gains, Tata communications traded with modest losses of about 0.6%. Tata Communication said that the company has entered into a deal with Indosat, an Indonesian telecom company, to provide slew of technology and communication solutions. The company will also provide solution to various tech problems that will include Global Network Value Added Services Unified Communications and Security services.

Oil & Gas companies traded with moderate losses in today's trading sessions. Losses were eclipsed by gains in various companies such as GAIL and Cairn India. Investors' optimism towards oil & gas companies increased after the Government permitted the companies to import gas on spot basis. These imports would be useful in filling up the demand supply gap in India. The import of gas would be utilized in operation of gas-based power plants which are sometimes left stranded due to unavailability of gas. Shares of Gail increased about 0.3% on such developments.

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Aug 18, 2017 (Close)

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