Sensex, Nifty LIVE Updates on February 26: After three straight sessions of gains, share market indices slipped majorly to bearish territory on Friday, amid weak global equities. Sensex was trading 1,039 points lower at 49,999 and Nifty fell by 205 points to 14,888. Yesterday, Sensex ended 257 points higher at 50,039 and Nifty gained 115 points to 15,097. Sectorally, all the other indices were trading with decent losses. PSU Bank fell the most at 3%, while private and financial indices declined over 2%. The market breadth, indicating the overall health of the market, is weak on the BSE, with 431 shares rising, 1,267 shares falling and a total of 51 shares were unchanged. IndusInd Bank, Axis Bank, HDFC, SBI, M&M, ICCI Bank and HDFC Bank were among the top losers, while UltraTech Cement, Sun Pharma and Dr Reddy were trading among top gainers. Global markets fell after rising bond yields triggered a broad sell-off in technology and communications companies.
Here’s a look at the LIVE updates of the market action on BSE and NSE today
12.10 PM: Market outlook
Ajit Mishra, VP – Research, Religare Broking said,”The rising bond yields in the US have spooked investors sentiments which has led to a sell off in global markets. Moreover, the geo-political tensions between US and Iran have also weighed on sentiments.Nifty may see a short term trend reversal below 14,600. We thus advise keeping existing long positions hedged.”
11. 50 AM: Sensex tanks over 1,400 points
Sensex tanked over 1,400 points in early trade today amid a sell-off in global markets.While Sensex crashed 1,429 points to 49,610, Nifty slipped 418 points to 14,679. On Thursday, Sensex ended 257 points higher at 50,039 and Nifty gained 115 points to 15,097.
Global markets fell after rising bond yields triggered a broad sell-off on Wall Street. Nasdaq fell 3.5% on Thursday while the S&P 500 dropped 2.4%, led lower by heavy selling in technology and communications companies.
11. 40 AM: Indian Bank share price drops 3%
Indian Bank share price opened with a loss of -3.36% and later touched an intraday low of Rs 138 (-3.5%) on BSE today. The lender has decided to exercise the call option on its outstanding AT 1 perpetual bonds worth Rs 2500 crore on March 30.
11. 30 AM: Global market outlook
CapitalVia Global Research said in its morning note,” Oil prices are set for their fourth straight monthly advance. Brent crude is set for its best February since 2015 while West Texas Intermediate will have its best February, Dollar index trading flat near $90.20.
Asian equities have opened lower on the final trading day of the week as global bonds continued to sell-off and the U.S. Dollar strengthened. Benchmark indices in Japan, Australia and South Korea have declined over 2% each this morning. Australian bonds slumped while Japan’s10-year yield rose to the highest since early-2016. The 10-year benchmark treasury surged as…
Go to the news source: Sensex drops 1,500 points, Nifty at 14,650; HDFC twins, SBI, IndusInd Bank top l…