The Times of India :
Thanks to the market rout in China, the Sensex fell for the fourth consecutive session on Thursday to close at 24,852, down 555 points (2.2%) with all the 30 Sensex stocks in the red. On Thursday morning as the CSI 300 index in Shanghai tanked 7% and Chinese authorities suspended trading for the day, sensex opened more than 1% lower and lost steam through the session to close at a fresh three-week low.
Sensex cracks below 25,000-mark on Chinese woes, tumbles over 450 points In the process it also broke below the psychologically important 25K mark. Thursday’s was the second 7% fall in the benchmark index for the Chinese stock market this week which came on the back of signs of further economic weakness in the world’s second largest economy.
In India, the Sensex has now lost over 1,300 points since its New Year day closing at 26,161.
On Thursday, the slide in the domestic market was led by BHEL, Tata Steel, Tata Motors and Axis Bank, with each of the stock closing down 5% or more.
Around Asia, Nikkei in Japan closed down 2.3% while Hang Seng in Hong Kong was down 3% at close. The recent crashes in global markets are also because of Chinese government decision to let Yuan, its currency that the government manages vigorously, weaken, indicating dim chances of a quick recovery of the economy that grew in double digits rate for most of the last 27 years.
Thanks to the market rout in China, the Sensex fell for the fourth consecutive session on Thursday to close at 24,852, down 555 points (2.2%) with all the 30 Sensex stocks in the red. On Thursday morning as the CSI 300 index in Shanghai tanked 7% and Chinese authorities suspended trading for the day, sensex opened more than 1% lower and lost steam through the session to close at a fresh three-week low.
Sensex cracks below 25,000-mark on Chinese woes, tumbles over 450 points In the process it also broke below the psychologically important 25K mark. Thursday’s was the second 7% fall in the benchmark index for the Chinese stock market this week which came on the back of signs of further economic weakness in the world’s second largest economy.
In India, the Sensex has now lost over 1,300 points since its New Year day closing at 26,161.
On Thursday, the slide in the domestic market was led by BHEL, Tata Steel, Tata Motors and Axis Bank, with each of the stock closing down 5% or more.
Around Asia, Nikkei in Japan closed down 2.3% while Hang Seng in Hong Kong was down 3% at close. The recent crashes in global markets are also because of Chinese government decision to let Yuan, its currency that the government manages vigorously, weaken, indicating dim chances of a quick recovery of the economy that grew in double digits rate for most of the last 27 years.
