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Sensex Cracks Over 500 Points, Nifty Below 10,550: 10 Points
Rupee fell to 71.41 against the dollar 10-year benchmark bond yield rose to 7.50% from 7.46% On Friday, exit polls showed mixed results for PM Modi's party
10 Dec 2018, 01:28 PM IST 
Share market today: All sectors traded in the red led by losses in financial and pharma stocks.
- At the time of writing this report, the Sensex had cracked as much as 657.17 points to hit an intraday low of 35,016.08 and the Nifty as much as 207.7.4 points to hit an intraday low of 10,486.
- Trading between 3.55 and 5.84 per cent lower, Kotak Mahindra Bank, Reliance Industries, Indiabulls Housing Finance, UltraTech Cement and Bajaj Finance were the top Nifty losers.
- All sectors traded in the red led by losses in financial, pharma, consumer and IT stocks.
- Exit poll results and trade war worries pulled the markets lower, AK Prabhakar, head of research, IDBI Capital, told NDTV. "Share market today reacted to global trade war and exit poll results. But if the exit polls results turn out to be true, more correction in markets is on the cards," he said. On Friday, exit polls showed mixed results for Prime Minister Narendra Modi's ruling party at the recently held crucial state elections.
- In the currency market, the rupee fell to 71.41 against the dollar - its weakest level recorded since November 20, reported news agency Reuters.
- In the bond market, the 10-year benchmark bond yield rose to 7.50 per cent from 7.46 per cent, the Reuters report stated.
- Global stocks extended their slump on worries over slowing growth and fears that a fresh flare-up in tensions between Washington and Beijing could quash chances of a trade deal.
- MSCI's broadest index of Asia-Pacific shares outside Japan slid 1.4 per cent to a near three-week low, according to Reuters. S&P futures fell 0.8 per cent and Dow futures lost 0.8 per cent in the Asian day.
- In commodity markets, oil prices rose, extending gains from Friday when producer club Organisation of the Petroleum Exporting Countries and some non-affiliated producers agreed a supply cut of 1.2 million barrels per day (bpd) from January. Brent crude rose 0.8 percent to $62.13 per barrel.
- According to provisional NSE data, foreign portfolio investors sold while domestic institutional investors bought net shares worth Rs 817.4 crore and Rs 242.56 crore respectively, on Friday. (With inputs from agencies)
