Home / Market Beat / Carnage continues in early trade. Sensex recovers later.

Carnage continues in early trade. Sensex recovers later.

Markets have seen the bloodbath being extended, with global indices also falling sharply, in the wake of the S&P downgrade of the credit rating in the United States. Recession is feared in the worldwide economies, following this.

Crude fell 4% to USD 78 a barrel on the NYMEX. However, gold rallied 2.7% to USD 1766 an ounce.

At 10:22 AM, the Nifty has seen a cut of 92 pts, to read 5026 – down by -1.8%.

The Sensex recovered about 300 points from intra-day low. Recovery was seen in Asian markets too. China’s Shanghai, which was down 2.5% at one point, pared losses to trade down only 1%. Taiwan gained 0.5% after dropping 4.5% in the morning trade.

IT remains worst hit amid sell-off. Only ONGC and BPCL were on buyers’ radar due to fall in crude oil prices.


 

 

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