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Business News/ Markets / Live Blog/  Sensex Today | Market Highlights: Sensex ends 350pts down, Nifty below 21,800; Airtel down 3%; Broader markets fall
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Sensex Today | Market Highlights: Sensex ends 350pts down, Nifty below 21,800; Airtel down 3%; Broader markets fall

Sensex Today | Market Highlights: Foreign institutional investors net bought shares worth 70.69 crore, while domestic institutional investors (DIIs) purchased shares worth 2,463.16 crore worth on February 2, provisional data from the NSE showed.

Sensex Today | Share Market Live Updates: Chinese stocks fell, adding to last week’s rout, as investors assessed the latest pledge by policymakers to stabilize the slumping market.Premium
Sensex Today | Share Market Live Updates: Chinese stocks fell, adding to last week’s rout, as investors assessed the latest pledge by policymakers to stabilize the slumping market.

Sensex Today | Market Highlights: India's benchmark indices closed in the red, down from the day's high.

The NSE website was down during market open.

European stocks edged higher, following Wall Street’s record close on Friday, as Federal Reserve’s Jerome Powell reiterated the market may need to wait beyond March for the central bank to cut interest rates.

The Stoxx 600 Index up 0.2% as of 8:10 a.m. in London. Banks and travel & leisure were the best performing sectors while mining and energy lagged as investors gear up for another busy week of earnings.

Treasuries extended Friday’s selloff after Federal Reserve Chair Jerome Powell said policy makers will likely wait beyond March before cutting interest rates. Chinese stocks saw more wild swings after signals of official support.

Asian shares fell on Monday and the dollar climbed after a robust U.S. jobs report dashed any expectations of a near-term interest rate cut from the Federal Reserve, while stocks in China stocks remained on the back foot on weak sentiment.

But Tokyo stocks closed higher on Monday following records on Wall Street, as Japanese exporters benefited from a weaker yen. The benchmark Nikkei 225 index rose 0.54 percent, or 196.14 points, to 36,354.16, while the broader Topix index added 0.67 percent, or 17.03 points, to 2,556.71.

Oil prices were tentative following fresh strikes in Tehran-aligned factions in Iraq, Syria and Yemen over the last two days by the United States, with rising tension in the Middle East keeping risk appetite in check.

MSCI's broadest index of Asia-Pacific shares outside Japan slid 1% at the start of the week. The index is down 4.5% so far in the year. Japan's Nikkei rose 0.5%.

China's blue-chip index eased 0.12%, having touched a fresh five-year low last week. Hong Kong's Hang Seng Index fell 0.5% in early trading.

Data on Friday showed U.S. job growth accelerated in January and wages increased by the most in nearly two years, signs of persistent strength in the labour market that could push the Fed to start its easing cycle a bit later in the year than markets anticipated.

Markets are currently pricing in an 80% chance of the Fed standing pat on rates in March, compared with a 33% chance at the start of the year, the CME FedWatch tool showed. Traders are now pricing in just below 120 basis points of cuts this year.

Even before the labour market data, the Federal Open Market Committee (FOMC) meeting last week signalled little appetite for early or aggressive cuts, analysts at Barclays said in a note.

U.S. crude rose 0.21% to $72.43 a barrel and Brent was at $77.58, up 0.32% to start the week as escalating geopolitical tension and its repercussions on oil supply boosted prices.

Spot gold dropped 0.2% to $2,035.09 an ounce. U.S. gold futures fell 0.10% to $2,034.00 an ounce.

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