Share markets in India have erased early gains and are presently trading deep in the red.
Benchmark indices extended losses amid across-the-board sell-off, across metal sector, banking sector and energy sector.
The BSE Sensex fell over 600 points, or 1.2% to 51,770 levels. Meanwhile, the NSE Nifty fell to 15,450-mark.
Presently, the BSE Sensex is trading down by 452 points, down 0.9%. Meanwhile, the NSE Nifty is trading down by 151 points.
Stocks from the banking sector, metal sector and energy sector are the biggest laggards.
Shares of UPL and JSW Steel fell over 4%, while Coal India and Tata Motors fell over 3%.
Broader markets also cooled down after the recent runup. Both, the BSE Midcap index and the BSE Smallcap index fell over 2.5%.
Market participants are tracking shares of Ashoka Buildcon, GMR Infrastructure and Hinduja Global as these companies are set to release their quarterly earnings today.
The rupee fell to its lowest level in nearly 2 months against the US dollar.
Gold and silver prices edged higher today after a steep fall in the previous session
In one of his videos for Fast Profits Daily, India's #1 trader, Vijay Bhambwani talks about why gold and silver prices have become volatile lately.
He also shared how the price volatility affects his long-term view on both metals.
You can watch the video here: Why is Bullion so Volatile Now?
More details to follow in the upcoming commentary.
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