After a stable start to Samvat 2081 on Friday, November 1, the Indian indices, along with Japan's Nikkei and TOPIX, have been drenched in the rain of decline. This comes just a day ahead of the US presidential election on November 5.
Many observers have cited this as a key factor in the collapse of Indian and other Asian indices today. The uncertainty surrounding the election result is arguably leaving investors nervous.
Market, As It Ended
The marquee indices closed the day's trade with colossal losses. After declining by over 1,200 points, the losses tapered down by the end of the day.
As the day came to an end, the BSE Sensex slumped with grand losses of 941.88 points, or 1.18 per cent, ending the day at 78,782.24. Similarly, the NSE Nifty dropped in value by 309.00 points or 1.27 per cent, to close at 23,995.35.
Additionally, the Nifty Bank also closed in red. The index closed at 51,215.25, decreasing by 458.65 or 0.89 per cent.
Major Gainers and Losers
Gainers: On the BSE tranche, at the time of writing, major gainers included Tech Mahindra and Mahindra & Mahindra, who gained over 2 per cent. In addition, Infosys and HCL made gains as well. Gillette in small-cap companies advanced by 4.4 per cent.
Losers: Among major shares, Adani was the biggest loser with losses of 3.24 per cent. In addition, Sun Pharma, Reliance and NTPC were amongst the many losers.
Markets In The Morning
The Sensex began the day at 79,713.14, far behind its 52-week high of 85,978.25 points. The Nifty opened at 24,315.75, once again behind its high of 26,277.35
Nifty Bank in the morning session was trading low at 51,764.50.
Japan's Nikkei crumbled under pressure, diminishing to 38,053.67 after a gargantuan decline of 2.63 per cent or 1,027.58 points. | Wikipedia
Asian Markets
The Japanese markets, a lot like the Indian markets, were 'spooked' by the US presidential election as all the major indices closed with monumental losses.
Japan's Nikkei crumbled under pressure, diminishing to 38,053.67 after a gargantuan decline of 2.63 per cent or 1,027.58 points.
Another Tokyo-based index, TOPIX, closed with major losses at 2,690.78, losing 1.90 per cent or 51.25 points of its value.
As we move to China, it is an entirely different story, as all the marquee indices here ended in green. The Hang Seng also closed with gains in its numbers, closing with an increase of 0.30 per cent or 61.09 points, at 20,567.52.
The CSI 300 Index also gained 1.41 per cent or 54.74 points. This took the overall value to 3,944.76.
Shanghai-based SSE Composite also ended the day's trade in the green with major gains. The index rose by 1.17 per cent or 38.19 points of its value and closed at 3,310.21.
South Korea's KOSPI also ended the day on a positive note. The index closed with gains of 1.83 per cent or 46.61 points, rising to 2,588.97.
