Five charts that show why the Sensex crashed

Five charts that show why the Sensex crashed

Five charts that show why the Sensex crashed

The strong wage data pointed to higher inflation that may lead to higher interest rates by the US Federal Reserve.

A total of five stocks registered a fresh 52-week high in trade today, while 153 stocks touched a new 52-week low on the NSE.

US markets collapsed Monday with the S&P 500 Index dropping by the most in more than six years. U.S. stocks tumbled yesterday, 5 February 2018 as interest rates headed higher amid concerns of returning inflation. Similarly, the wider Nifty50 of the National Stock Exchange receded deep into the red.

At 9:44 am: The markets recovered from the opening lows but continued to trade sharply lower.

At 12.08, the indices had pared slightly with Sensex reducing losses to 311 points while Nifty was down by 96 points.

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Market breadth was negative with 539 advances against 2,009 declines.

"It's always better to be on the sidelines when there's a global selloff", Ashish Chaturmohta, head of technical and derivatives strategy at Sanctum Wealth Management, said by phone. As many as 13 per cent felt the fall could be steeper at 10 per cent. U.S. stocks plunged in highly volatile trading on Monday, with both the S&P 500 and Dow Industrials indices falling more than 4 per cent. As per the transaction announced on 15 June 2017, Warburg Pincus was to acquire approximately 43% stake in Tata Technologies from Tata Motors and other Tata entities. Tata Motors will continue to explore strategic options to sell its stake in Tata Technologies and remains positive on the outlook of the business.

Extending its falling streak for the sixth straight session, the 30-share index plunged by 1,274.35 points. The slump is said to have begun after the Union Budget was revealed on February 1, 2018, a Thursday. In the poll of 60 economists, taken after the Budget announcement, 58 said the RBI would keep key rates unchanged - the repo at 6.00 per cent and the reverse repo at 5.75 per cent - when it meets on Wednesday.

Also, oil prices witnessed a 1% decline.

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