Gold Silver Reports (GSR) – Sensex Slumps 550 points – The BSE Sensex and the NSE Nifty 50 opened higher on Monday, but soon erased gains and fell over 1.5%, dragged down mainly by finance stocks such as HDFC and Indiabulls Housing Finance.
US equity futures edged lower after China called off planned trade talks with the US. Oil prices gained as OPEC’s leader Saudi Arabia and its biggest oil producer ally outside the group, Russia, effectively rebuffed US President Donald Trump’s calls for action to lower prices. Here are the latest updates from the markets:
Shares of non-banking finance companies (NBFCs) plummeted further over fears of a liquidity crunch. The rupee also weakened against the US dollar, tracking the heavy selloff in the local equity markets. In Asia, markets in Japan, South Korea and China are closed for public holidays.
