Indian Equities plunge on broad-based sell-off - ICICI Bank : Treasury Research

Indian equities closed in the red today, amidst broad-based sell-off in global equities following Fed Chairman Bernanke's comments yesterday on the possibility of tapering of asset purchases later this year. Selling pressure was witnessed in rate-sensitive stocks like realty and banking. The Sensex ended lower at 18,719.29 (-2.74%) while Nifty closed at 5655.90 (-2.86%).

The BSE Bankex ended lower at 13,015.29 (-3.98%). SBI ended lower at INR 1998.45 (-2.31%) while ICICI Bank ended down at INR 1045.75 (-3.75%).

Asian equities extended morning session's losses to close lower today, as sentiment remained downbeat, following Fed Chairman Bernanke's comments yesterday. Australia's ASX and Nikkei closed lower by 2.12% and 1.74% respectively, dragged by financials. Hang Seng and Shanghai Composite led the region's losses, ending lower by 2.88% and 2.76% respectively, after a 9-month low reading of China's June HSBC flash manufacturing PMI weighed on sentiment. Kospi also ended down by 2.0% on the back of selling by foreign investors.

Source : Equity Bulls

Keywords