Live
- DEO suspends teacher accused of sexual assault
- PM ‘cursing’ Congress out of despair: Maharashtra Cong Chief
- Applications are invited for Junior Colleges Scheme District Scheduled Castes Development Officer Ramlal
- A nomination was filed on the second day for the Nagar Kurnool parliamentary seat
- SP Gaikwad inspected the Telangana Amarnath Saleswaram Jatara yatra arrangements
- Rahul Gandhi's decision to contest from Wayanad shows 'lack of confidence': BJP President Nadda
- IPL 2024: Delhi bowlers will go after all of SRH’s top-order batters, says head coach Ricky Ponting
- At Amroha rally, PM Modi sends out ‘meaningful’ message for Muslims and Hindus
- Tripura records highest 79.83 pc voter turnout in Northeast
- The government has to clear the confusion
Markets plunge on negative global cues
Markets plunge on negative global cues
The BSE Sensex tumbled 323 points on Thursday, weighed by losses in index heavyweights Reliance Industries and HDFC twins amid negative cues from global markets after the US Fed highlighted the uncertainty surrounding economic recovery
Mumbai: The BSE Sensex tumbled 323 points on Thursday, weighed by losses in index heavyweights Reliance Industries and HDFC twins amid negative cues from global markets after the US Fed highlighted the uncertainty surrounding economic recovery.
The 30-share BSE index ended 323 points or 0.82 per cent lower at 38,979.85. The NSE Nifty fell 88.45 points or 0.76 per cent to 11,516.10.
Bajaj Finserv was the top laggard in the Sensex pack, shedding over 2 per cent, followed by PowerGrid, L&T, ICICI Bank, Bajaj Finance, TCS and Sun Pharma. On the other hand, HCL Tech, Infosys and Maruti finished higher.
According to traders, domestic equities traded on a negative note tracking weak cues from global markets after the US Federal Reserve hinted at key policy interest rate staying close to zero at least through 2023 without unveiling any additional stimulus plans.
Bourses in Shanghai, Hong Kong, Seoul and Tokyo ended with significant losses. Stock exchanges in Europe too opened on a negative note. Meanwhile, global oil benchmark Brent crude was trading 0.26 per cent lower at $42.11 per barrel.
P-note investments
Investment through participatory notes (P-notes) in the domestic capital market surged to over Rs 74,000 crore till August-end, making it the highest level in 10 months. This marks the fifth consecutive monthly rise in the investment through the route, also signaling at growing confidence of foreign portfolio investors (FPIs) in the local market.
P-notes are issued by registered FPIs to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process.
According to Sebi data, the value of P-note investments in Indian markets equity, debt, hybrid securities and derivatives stood at Rs 74,027 crore till August-end, while the same was at Rs 63,228 crore at the end of July.
The figure at August-end was the highest level of investment since October 2019, when the total value of P-note investments in the Indian markets stood at Rs 76,773 crore.
