Home > business, economy, finance, india > weak Q3 numbers, concerns over recession pulls sensex down 358pts

weak Q3 numbers, concerns over recession pulls sensex down 358pts

Equity benchmarks fell close to 4% on Monday weighed down by disappointing December quarter earnings from some key companies and concerns over a deepening recession in the US. With the result season coming to an end and fewer domestic events to provide direction immediately, fund managers expect Indian equities to mirror overseas trends in the near future.

Going by Monday’s trend in US futures, which declined on a fall in consumer spending during December for the sixth straight month, Indian shares on Tuesday are likely to open lower.
On Monday, the BSE’s 30-share Sensex closed at 9066.70, down 357.54 points, or 3.79%. The NSE’s 50-share Nifty ended at 2766.65, down 108.15 points, or 3.76%. The bear domination extended to the broader market, too, with the losers outnumbering the gainers 1,577:867 on the BSE. Technical analysts see the 2700-level as a key support for the Nifty in the near-term.

continue reading…

Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: