U.S. stocks opened lower on Monday in broad-based declines after Citigroup posted an unexpected fall in revenue, adding to fears of a sharper slowdown in global economic growth that resurfaced after data showed an unexpected drop in China’s trade.
On this episode of ‘CALL BTVI’ show on 14th January 2019, experts answer all stock market related queries. Also, have insightful advice, and much more information on stocks and shares from Gaurang Shah, Head Investment Strategist, Geojit Financial and Hemen Kapadia of KR Choksey Shares and Securities.
The BSE Sensex ended over 150 points lower Monday on heavy selloff by foreign investors after industrial output growth data dropped to a 17-month low.
The BSE Sensex ended over 150 points lower Monday on heavy selloff by foreign investors after industrial output growth data dropped to a 17-month low. After a volatile session, the 30-share index settled 156.28 points, or 0.43 per cent, down at 35,853.56, while the broader NSE Nifty fell 57.35 points, or 0.53 per cent, to finish at 10,737.60.
Market regulator Sebi imposed a fine totalling Rs 34 lakh on 10 entities for indulging in fraudulent trading in the shares of Mindvision Capital.
Shares of Infosys rose by nearly 4 per cent after the company approved a Rs 8,260-crore share buyback and also raised its revenue growth forecast. The IT firm on Friday reported a 30% drop in its December quarter net profit on higher expenses.
China’s surprisingly weak trade data brought a four-day rally in European shares to a halt on Monday, with luxury goods and technology stocks leading the drop as investors fretted about slowing global growth and weaker-than-expected earnings.
Indian shares fell in line with broader Asia after a shock contraction in Chinese exports raised fears of a sharper global slowdown, but the blow was cushioned by gains in Infosys Ltd after the IT major raised its revenue forecast and announced a buyback.
The Sensex dropped over 150 points tracking weakness in other Asian markets amid heavy selling by foreign investors. Market sentiment also turned cautious ahead of the release of key macroeconomic data.