Sensex slips over 100 points on weak global cues; Nifty50 holds 7,900
The S&P BSE Sensex plunged over 150 points in morning trade on Monday, tracking Asian markets which were trading lower after China factory activity contracted and the yuan weakened to near a five-year low.
The S&P BSE Sensex plunged over 150 points in morning trade on Monday, tracking Asian markets which were trading lower after China factory activity contracted and the yuan weakened to near a five-year low.
The Nifty50 came under pressure to break below its crucial support level of 7,950, weighed down by losses in IT, oil & gas, metal, banks and auto stocks.
The rupee fell 17 paise to 66.31 against the US dollar in early trade on Monday after weak Chinese manufacturing PMI readings sparked selling across Asian currencies.
The domestic currency had closed at 66.14 against the greenback on Friday.
Chinese yuan dropped to a fresh five-year low against the US dollar in morning trade after China said manufacturing PMI contracted in December to 48.2, compared with 48.6 in November. A value below 50 suggests contraction.
Most other Asian cracked in trade after weak Chinese manufacturing data signaled a further weakening in the world's second largest economy. Japan's Nikkei slumped 2.6 per cent while the South Korean Kospi lost 1.53 per cent. Hong Kong's Hang Seng index slipped over 500 points. China's Shanghai Composite traded lower by 3.33 per cent.
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The rupee fell 17 paise to 66.31 against the US dollar in early trade on Monday after weak Chinese manufacturing PMI readings sparked selling across Asian currencies.
The domestic currency had closed at 66.14 against the greenback on Friday.
Chinese yuan dropped to a fresh five-year low against the US dollar in morning trade after China said manufacturing PMI contracted in December to 48.2, compared with 48.6 in November. A value below 50 suggests contraction.
Most other Asian cracked in trade after weak Chinese manufacturing data signaled a further weakening in the world's second largest economy. Japan's Nikkei slumped 2.6 per cent while the South Korean Kospi lost 1.53 per cent. Hong Kong's Hang Seng index slipped over 500 points. China's Shanghai Composite traded lower by 3.33 per cent.
For more information about , IndianStock Market Tips ✆ - 8819060002
or Visit http://www.wellworthresearch.com/
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