ANI
20 Sep 2023, 14:18 GMT+10
New Delhi [India], September 20 (ANI): Indian stock indices extended losses from the previous session and edged sharply lower on Wednesday, tracking weak overnight US markets coupled with rising global crude oil prices amid the strengthening of the US dollar.
Sensex was at 67,213.98 points, down 382.87 points or 0.57 per cent, and Nifty was at 20,024.60 points, down 108.70 points or 0.54 per cent at the opening bell. India stock exchanges were closed yesterday for trading on the occasion of Ganesh Chaturthi.
On Monday, Indian stock indices closed in the red, with the benchmarks largely witnessing profit booking. Investors may have taken some money off the table after the indices hit their fresh highs last week.
"There are too many challenges for the market in the near term. Brent crude at $94, the dollar index above 105, the 2-yr US bond yield at 5.09 per cent and the INR at record lows against the dollar are strong headwinds," said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
"The straining of relations between India and Canada is unlikely to have any lasting impact on the market," he said.
Going ahead into this week, investors are likely to tread carefully as the U.S. Federal Reserve's meeting scheduled Tuesday-Wednesday, its outcome due likely this midnight, will be closely monitored.
The US central bank in its July meeting raised its benchmark interest rate by 25 basis points, the highest in the past 22 years at 5.25-5.5 per cent, in its fight against soaring inflation and bringing it back to the 2 per cent target. (ANI)
Get a daily dose of Sports Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Sports Sun.
More InformationThis campaign explores ice hockey players' influence and popularity beyond their National Hockey League (NHL) careers. The goal was to ...
Green Bay (Wisconsin) [US], December 4 (ANI): Pop star Taylor Swift attended Travis Kelce's Chiefs Game Against the Packers in ...
(Photo credit: Stephen Brashear-USA TODAY Sports) With Major League Baseball's winter meetings underway in Nashville, the Mariners and Braves announced ...
(Photo credit: Dan Powers-USA TODAY Sports) Jordan Love completed 25 of 36 passes for 267 yards and three touchdowns, and ...
(Photo credit: Bob DeChiara-USA TODAY Sports) Brad Marchand scored a natural hat trick in the third period as the Boston ...
(Photo credit: Timothy T. Ludwig-USA TODAY Sports) Juuse Saros made 34 saves and the visiting Nashville Predators defeated the Buffalo ...
Green Bay (Wisconsin) [US], December 4 (ANI): Pop star Taylor Swift attended Travis Kelce's Chiefs Game Against the Packers in ...
(Photo credit: Dan Powers-USA TODAY Sports) Jordan Love completed 25 of 36 passes for 267 yards and three touchdowns, and ...
(Photo credit: Denny Simmons / The Tennessean / USA TODAY NETWORK) Gardner Minshew hit Michael Pittman with a 4-yard touchdown ...
(Photo credit: Kim Klement Neitzel-USA TODAY Sports) Tampa Bay Buccaneers receiver Mike Evans went over 1,000 receiving yards for the ...
(Photo credit: Adam Cairns/Columbus Dispatch / USA TODAY NETWORK) The College Football Playoff is about to expand to a 12-team ...
(Photo credit: Vincent Carchietta-USA TODAY Sports) Desmond Ridder completed 12 of 27 passes for 121 yards and the game's only ...