![Sensex Nifty](http://images.financialexpress.com/2015/01/BSE-Sensex-Re1.jpg)
Sensex and Nifty opened in red on Wednesday following weak global cues. Sensex opened 125.31 points down at 25526.53.(Reuters)
10.29 am: Sensex was down 94 points at 25,558.21. Brokers said besides persistent capital outflows by
foreign funds, a weak trend in Asia following an overnight heavy sell-off at US markets and a plunge in Chinese factory activity stoked fresh fears about the health of the world’s second-largest economy and the global outlook, which soured mood here. Caution ahead of Thursday’s September expiry in the derivatives segment also weighed. Nifty was down 39.30 points at 7,772.
10.15 am: Continuing its slide for the third straight day, the rupee depreciated by another 19 paise to
trade at 66.07 against the dollar in early trade on Wednesday on foreign funds outflows amid a lower opening in the domestic equity market.
9.45 am: Visa Steel shares surged as much as 20 per cent in the early trade on Wednesday after lenders of Visa Steel decided to convert a large portion of their loans into equity using the Reserve Bank of India’s (RBI) strategic debt restructuring (SDR) scheme. Visa Steel shares were trading 15 per cent up at Rs 16.60 apiece. Sensex was down 113 points at 25,538.
9.38 am: Metal stocks declined in the early trade on Wednesday after a survey has found that China’s manufacturing slump has deepened as activity in the vital sector has fallen to its lowest level in 6 – 1/2 years. The Caixin preliminary survey of factory purchasing managers released Wednesday fell in September to 47.0, its lowest level in 78 months. The BSE Metal index plunged 1.41 per cent at 6,878.08.
9.30 am: In the 50-share index, BPCL, Cairn India, Power Grid, TCS and Hero MotoCorp gained between 0.35 per cent and 0.80 per cent. On the other hand, Bosch, NMDC, Tata Steel, Tata Motors and HCL Technologies declined between 1.70 per cent and 3.60 per cent. CNX Nifty was down 60.60 points, or 0.78 per cent, at 7,751.40. The BSE benchmark index Sensex was down 161.51 points, or 0.63 per cent, at 25,487.02.
9.17 am: Sensex was down 223 points at 25,429. Nifty was down 84.75 points at 7727.25. Continuing to fall for the third straight day, shares of auto component maker Motherson Sumi Systems declined naerly 4 per cent amid concerns related to Volkswagen, which is facing a fine of up to $18 billion in
the US for using device to falsify emissions data. The scrip was trading 3.80 per cent down at Rs 232.70 in the early trade.
Domestic equity markets opened in red on Wednesday following weak global cues. Sensex opened 125.31 points down at 25526.53.
SKS Microfinance informed BSE before market hours that it has decided to reduce the interest rate charged to its borrowers from 22 per cent to 20.75 per cent on income generating loans to be extended wef October 1, 2015. SKS Microfinance shares were trading 0.56 per cent down at Rs 390.20 in the opening trade.
Stock markets tumbled over 2 per cent on Tuesday. Jayant Manglik, president, retail distribution, Religare Securities, said, “Sentiments were under pressure on Tuesday after Asian Development Bank (ADB) stated that weaker growth in China this year is expected to cause a slowdown in the rest of Asia. Selling pressure intensified further with decline in the European and US markets in the second half, which triggered steep decline across the board.”
Global Markets
New York: US stocks dropped on Tuesday as a selloff in commodities dragged down materials companies while Volkswagen suppliers’ shares dropped following the German carmaker’s emissions scandal.
London: Britain’s top share index retreated on Tuesday as weaker oil and metals prices weighed on commodity stocks, while motor insurer and repair group AA slumped after posting lower earnings.
Tokyo: Japanese markets are shut through Wednesday.
Hong Kong: The Hang Seng Index down 2 percent.
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