Nifty Hits Below 24,100, Sensex Sinks 300 Points, RVNL Drops 6%

Markets Slide: Nifty Dips Below 24,100, Sensex Falls 300 Points, RVNL Plunges 6%

Written by: Supriya Kadu

Edited by: Omkar Devadkar

Last Updated: November 08, 2024

Summary: On Friday, Indian equity indices were down at the opening bell.

The BSE Sensex was up 28 points, or 0.04 percent, at 79,569 at the opening bell, while the Nifty 50 was down 22 points, or 0.09 percent, at 24,176.

On the other hand, Asia-Pacific markets rose Friday in response to the US Fed's move.

The broad-based Topix increased 0.1%, while Japan's Nikkei 225 increased 0.3%. The small-cap Kosdaq rose 1.5%, while the South Korean stock exchange's Kospi was up 0.7%.

The CSI 300 in mainland China gained 1.01 percent, while the Hang Seng index in Hong Kong increased 1 percent. The Shanghai Composite had a 0.6% advantage.

The S&P/ASX 200 in Australia increased by 0.9%.

Aside from that, Wall Street shares reached all-time highs on Thursday, boosting global stock markets, while US Treasury yields fell further as investors adjusted to a second Donald Trump administration and the Federal Reserve's interest rate decrease.

The Nasdaq Composite increased 1.5%, the Dow Jones Industrial Average remained unchanged, and the S&P 500 increased 0.74 percent. For the second day in a row, both the S&P 500 and the Nasdaq closed at all-time highs.

A record high was also reached by the MSCI index of global stocks, which increased by 0.9%.

The broad STOXX 600 index in Europe increased 0.6% following gains in Asian stocks earlier in the day. Even onshore Chinese blue chips saw a 3% increase as investor confidence regarding possible stimulus surpassed worries about escalating trade tensions.

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