Sensex, on Thursday, fell 263 points to close at 25,980. Indian stocks closed lower for the seventh straight session, posting their longest losing streak since March 2015 and, in the process, erasing all the gains for 2016, as worries about the impact of demonetization kept investors on edge. Among sectors, Consumer durables, Infra and Metals lost over 1.9% to 2.8% each. Among stocks, ONGC, Tata steel and Adani ports lost over 3.0% to 3.6% each. Market breadth was negative with 619 advances against 2,043 declines.
Nifty closed 82 points lower at 7,979. Today, we expect the markets to flat on the back of flattish global cues.
US Markets closed on a negative note. Dow closed 0.1% lower and Nasdaq lost 0.4%. U.S. stocks slid as the dollar pushed higher and Treasuries extended declines following the release of economic data that met or exceeded expectations. US markets, today, will see data releases on New Home Sales, Revised UoM Consumer Sentiment and Revised UoM Inflation Expectations.
Asian markets are trading on a negative note; Nikkei is trading 0.1% down, while Hang Seng is trading down 0.6%. SGX Nifty is trading 18 points down at 7,972. Indian ADRs ended the day on a negative note. Among financial ADRs, ICICI Bank closed 0.5% down, while HDFC Bank gained 0.5%. Among IT ADRs, Wipro lost 0.5%, while Infosys fell 1.2%. Tata Motors ADR lost 1.4%.
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