The Indian stock market benchmark indices, Sensex and Nifty 50 extended their losing streak for four straight days on Thursday, Sept. 3, after trading higher earlier on tracking gains in global equities and stronger rupee.
At closing bell, Sensex drops 417.49 points to settle at 76,152.86; Nifty falls 41 points to 23,873.45. Earlier in the day, the BSE Sensex gained over 300 points to trade above 76,900, while the NSE Nifty 50 reclaimed 24,000 level, rising 0.4%. The Bank Nifty index traded 1% higher.
Among sectoral indices, Nifty IT and FMCG were the top drags. Nifty Media was among the top performing sectors. The Indian rupee appreciated 0.7% to open at two-months high after robust FCNR(B) inflows.
Rupee opened 67 paise higher at 94.30 per US dollar as against Wednesday’s close of 94.97. Meanwhile, Indian bond yields eased. The benchmark 10-year bond yield fell to 6.9394% from 6.9754% in the previous session.
Cautious sentiment still prevails on the back of elevated crude oil prices and lingering geopolitical uncertainty.
Global Markets
On the global front, Asian stock market traded mixed. Japan’s Nikkei 225 rose 0.23%, while the Topix gained 0.85%. South Korea’s Kospi rallied over 1%, while the Kosdaq traded lower. Hong Kong’s Hang Seng index futures indicated a slightly higher opening.
Overnight on Wall Street, US stock market ended higher on Wednesday, on value buying at lower levels, after three straight sessions of losses.
The Dow Jones Industrial Average gained 295.01 points, or 0.56%, to 53,061.89, while the S&P 500 rose 35.16 points, or 0.46%, to 7,666.63. The Nasdaq Composite closed 118.05 points, or 0.45%, higher at 26,217.83.
Meanwhile, the US-Iran war in the Middle East escalated after the United States and Iran exchanged their biggest barrage since July. While the US struck Iran’s southern coast, Tehran fired at US bases across the region.
Stay tuned to this segment for live updates on the Indian stock market today.