Closing Bell: Stock Market Were In Deep Red

Closing Bell: The benchmark equity indices on the BSE and National Stock Exchange (NSE) fell for the second consecutive day, falling over 1 percent on Wednesday ahead of the release of the minutes of the Reserve Bank of India’s latest monetary policy meet and key macroeconomic data from the US, while fears of a recession linger.

The S&P BSE Sensex tanked 635.05 points (1.03 percent) to close at 61,067.24 while the Nifty 50 crashed 186.20 points (1.01 percent) to settle at 18,199.10. Both the indices had opened on a positive note earlier in the day but soon pared their gains and turned negative during the late morning deals.

Domestic equities came under pressure after the worsening of the Covid situation in China and sudden spurt of cases being witnessed in USA, Korea, Brazil, and Japan. Nifty opened positively but soon witness selling after Centre issues advisory to states to step up measures to tackle the new Covid wave. The index closed near days’ low with loss of 186 points (-1percent) at 18199 levels.

Closing Bell: Gold price rose Rs 192 to Rs 55,261 per 10 grams in the national capital on Wednesday amid gains in precious metal prices internationally, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 55,069 per 10 grams. Silver also jumped Rs 433 to Rs 69,962 per kilogram.

“Gold price is a little up in the Asian trading hours. Spot gold prices in the Delhi markets traded at Rs 55,261/10 grams, up Rs 192/10 grams,” said Dilip Parmar, Research Analyst at HDFC Securities.

Also read: Share Market Opens In Green

In the international market, gold was trading higher at USD 1,815 per ounce while silver was up at USD 23.94 per ounce.

Closing Bell: The dollar fetched 132.08 yen, against 131.69 yen in New York, where the greenback slid further after it dropped from a daily high of 137 yen to 133 yen within minutes of Tuesday’s BoJ decision in Tokyo.

Tokyo shares closed lower for the fifth straight day on Wednesday, as a higher yen triggered by a surprise Bank of Japan policy tweak weighed on the market. Tokyo’s benchmark Nikkei 225 index slipped 0.68 percent, to 26,387.72, a day after the Bank of Japan gave in to pressure on the yen by expanding the cap on the yield of the 10-year Japanese government bond to 0.50 percent. It had been 0.25 percent. The broader Topix index fell 0.64 percent, or 12.27 points, to 1,893.32.

Hong Kong’s Hang Seng gained 0.3 per cent to 19,160.49 and the Shanghai Composite index slipped 0.2 per cent to 3,068.41. South Korea’s Kospi lost 0.2 percent to 2,328.95. In Sydney, the S&P/ASX 200 gained 1.3 percent to 7,115.10.

Germany’s DAX rose 0.7 percent to 13,987.59 while the CAC 40 in Paris jumped 1 percent to 6,514.30. Britain’s FTSE 100 gained 0.5 percent to 7,407.92. The future for the S&P 500 advanced 0.7 percent while that for the Dow Jones Industrial Average surged 0.8 percent.