The US dollar scaled an eleven-month top on Tuesday and Treasury yields broadened their ascent as investors propped for higher inflation in the United States in the midst of desires of monetarily expansionary polices under Donald Trump’s administration.
The risks of faster-than-expected Federal Reserve rate increments have delayed developing market assets, especially equities and currencies, which have profited from expansive capital inflows.
MSCI’s broadest file of Asia-Pacific shares outside Japan was level in early exchanges while Australian stocks were off 0.5 percent.
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The market has fallen strongly in opening dragged by record heavyweights. The Sensex is down 327.91 points or 1.2 percent at 26490.91, and the Nifty down 96.50 points or 1.2 percent at 8199.80. Around 446 shares progressed, 598 shares declined, and 71 shares are unaltered.
Responding to September quarter results, Tata Motors and Tata Steel fell 4-5 percent each. Maruti Suzuki, HDFC and Asian Paints are other losers while ONGC, SBI, Sun Pharma, Dr Reddy’s and GAIL are best gainers.
Opening Bell by TradeIndia Research
SENSEX DOWN – 29.20 @ 26789.62,
NIFTY FUTURE DOWN – 48.95 @ 8279.00,
BANK NIFTY FUTURE UP + 19.75 @ 19840.00.
USD/INR – 67.61.