Market Live: Sensex down over 200 pts as Street digests Sikka’s exit; midcaps fall
ITC, MM, Bharti Infratel and UltraTech Cement gained the most on both indices, while Infosys, State Bank of India and Bank of Baroda were the top losers.
Among global markets, Asia markets were pressured in early Friday trade after investors on Wall Street sold off on growing uncertainty over the Trump administration’s ability to follow through on its economic policies.
Japan’s Nikkei 225 fell 1.31 percent as risk off trade from the US session followed through into the Asian trading day. Across the Korean strait, the Kospi declined 0.81 percent.
Meanwhile, Australia’s S&P/ASX 200 tumbled 1.10 percent, driven by broad-based losses across all sub-indexes barring the health care sector. The heavily-weighted financials sub-index recorded a 1.59 percent fall.
US stocks sold off on Thursday, with the S&P 500 recording its biggest daily percentage drop in three months as escalating worries about the Trump administration’s ability to push through its economic agenda rattled investors.
The benchmark index also closed at its lowest since July 11, with the day’s move marking the first time since the November 8 election of two days with more than 1 percent declines so close together. The index dropped 1.4 percent last Thursday, as concern over a possible conflict between the United States and North Korea hit the market.
The falls mark a break from a period of low volatility and subdued moves. The S&P 500 has had just four 1 percent declines this year.
