News

Market report- D-Street opens sharply lower amid weak global cues

Indian benchmark indices Sensex and Nifty opened sharply lower on Wednesday. A surge in crude oil prices, elevated US Treasury yields and escalating US-Iran tensions triggered sentiments across global markets. Weak Asian markets and overnight losses on Wall Street also weighed on sentiment, continued institutional buying may help limit the downside.

At 9:20 AM on September 2, the Sensex was down 0.94% at 76,227, while the Nifty fell 230 points to 23,830.

Rupee Check
The rupee opened marginally higher at 94.92 against the US dollar, compared with Tuesday's close of 94.95.

Global Update
Asian equities fell sharply on Wednesday as the global bond market selloff and renewed US-Iran conflict weighed on risk appetite. MSCI's broadest index of Asia-Pacific shares outside Japan declined 0.8% in early trade. South Korea's Kospi plunged 3%, while Japan's Nikkei 225 fell 2.2%.

US equities extended their losses on Tuesday as the global bond selloff deepened and crude oil prices surged. The Nasdaq Composite dropped 1.03% to 26,099.77, while the Dow Jones Industrial Average fell 0.79% to 52,766.93. The S&P 500 declined 0.71% to 7,631.47.