Moneycontrol
Last Updated : Sep 10, 2018 06:22 PM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Monday blues for indices, Sensex slumps more than 450 points

India’s trade deficit widened to USD 18 billion for July, while the current account deficit (CAD), too, widened to 2.4 percent of GDP.

Moneycontrol News @moneycontrolcom

It’s not a result that the bulls would have anticipated, considering the pullback it had on September 7, 2018. A weak rupee, which fell to record lows of 72.67 per US dollar weighed heavily on indices. The Indian currency saw weak moves following macro concerns on the domestic front along with having spillover effects of a selloff in emerging market currencies too.

Back home, investors are likely to have indulged in selling based on these cues, especially on the economic front. India’s trade deficit widened to USD 18 billion for July, while the current account deficit (CAD), too, widened to 2.4 percent of GDP.

The day was largely dominated by the bears, with the benchmarks seeing selling right from the first minute. Along with it, rupee’s weakness ahead added to its woes. The Nifty gave up 11,450-mark.

 For more, watch the Markets@Moneycontrol show as Moneycontrol research analyst Shishir Asthana talks to Anchal Pathak about what moved the markets today.
First Published on Sep 10, 2018 06:22 pm
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