Markets ended the day with huge loss

Indian markets after extending the losses ended the day with huge fall.  Sensex closed below the 16000 mark and Nifty closed at 4778 both the index were down by 2.5 %. With rupee breaching the 52/USD mark, the stock market sentiment has been bruised further. Weak Asian market and later European market contributed to the fall later in the day.  The European markets open in red on back of concerns that US Lawmakers may fail to reach an agreement on budget cuts, raising the prospect that America may face another credit downgrade.

In a weak economic environment All the BSE sectoral Indices ended the day in red with sectors like Metal, Bankex, and Realty taken huge beatings by over 3 per cent. While the other sector indices were down between 1-2.7 per cent

European Markets are also currently trading weak on back of concerns that US Lawmakers may fail to reach an agreement on budget cuts, raising the prospect that America may face another credit downgrade.  

Dow Jones Futures is currently trading 146 points or 1.25% down at 11621, indicating a negative sentiment in the US markets.

Back home, TATA Motors and BHEl remains the top looser among the Sensex heavyweights, closed down with 5% loss. Other stocks like Sterlite Industry, Tata Steel, Jindal Steel, DLF, Bajaj Auto, and ONGC also fell between 2.62-4.5% each. . Bharti Airtel today fell 2.30% at Rs 388.50 on the BSE after the Central Bureau of Investigation (CBI) conducted searches at company's office in Gurgaon.

In conclusion, we expect the markets to remain negative as investors are very jittery to invest in such markets, which fail to provide any concrete direction. We advise our readers to stay cautious