Sunday, October 24, 2021

Sensex jumps 149 points to close above 60,200 level; Nifty soars to 17,992

At the stock markets, the Sensex at the Bombay Stock Exchange gained 149 points, or 0.3 percent, to end at 60,284, today. The Nifty at the National Stock Exchange rose 46 points, or 0.3 percent, to 17,992. In the broader market, the BSE Midcap index added 0.7 percent and the Smallcap index inched up 0.3 percent.
Asian markets traded lower today, as a global energy crunch fuelled inflation fears and concerns about Evergrande’s debt problems intensified, clouding investor sentiment before the US corporate earnings season. So Japan’s Nikkei-225 index fell 0.9 percent; China’s Shanghai Composite index lost 1.3 percent; Hong Kong’s Hang Seng index slipped 1.5 percent; South Korea’s Kospi index dropped 1.4 percent at the close and Singapore’s Straits Times index had shed 0.1 percent.
In Europe, markets shares lost ground today as investors feared that soaring commodity prices would hamper a recovery in corporate profit, amid fresh signs of troubles at property developer China Evergrande. So London’s FTSE-100 had shed 0.5 percent; Germany’s DAX had lost 0.4 percent; while France’s CAC-40 had fallen 0.3 percent, in intra-day trade.
US markets fell yesterday, in a choppy session as soaring oil prices that hit multi-year peaks stoked fears about rising prices and tighter monetary policy.
A rally in basic material and energy shares on higher oil prices initially lifted major US stock indices. But the gains faded as investors focused on the start of the US corporate earnings season next week.
Some analysts anticipate businesses reporting slowing growth due to supply-chain snags and rising prices. They warned that this could lead to a drop in US stocks.
So, the Dow Jones Industrial Average lost 250 points, or 0.7 percent, to close at 34,496. The S&P 500 fell 30 points, or 0.7 percent, to end at 4,361. And the Nasdaq Composite dropped 93 points, to 14,486.
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