Key benchmark indices extended losses for fourth consecutive session on Thursday, dragged by weak global markets. Metal shares tumbled on fears of weak global growth. Yes Bank bounced after management clarified that the bank was on a firm financial footing. The Nifty opened lower and a hit the day’s low of 11,257 in early trade. Selling pressure in afternoon tradeafternoon trade dragged the index once again below 11,300. Decent buying support in the last hour of the trade pushed the Nifty above 11,300-mark.
Global Markets
PepsiCo reported third quarter earnings that beat analysts’ expectations.reported earnings per share of $1.56 on revenue of $17.19B.European shares opened lower on Thursday, a day after logging their worst day since last December as the U.S. was given the go ahead to slap tariffs on European goods. European STOXX 600 index (STOXX) dipped 0.04%.
The major Asia Pacific stock index plunged on Thursday, following Wall Street’s lead on Wednesday. The weakness was led by more than 2% declines in Japan and Australia.
Japan stocks were lower after the close on Thursday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower.The Nikkei 225 fell 2.01%.
Australia stocks were lower after the close on Thursday, as losses in the Telecoms Services, Energy and Financials sectors led shares lower.The S&P/ASX 200 declined 2.21% to hit a new 1-month low.
Nifty Chart
Nifty Index tested 200 DMA on 2nd consecutive day and closed above 200 DMA. The next key support and resistance for the market is at 11250/11150 and 11400/11500.
