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STOCK MARKET LIVE: As investors return to Dalal Street after a holiday, the benchmark Sensex and Nifty indices are eyeing a weak start to Wednesday’s trade amid negative macro cues both domestically and globally. At 7:15 am, the Gift Nifty futures were around 100 pts lower at 19,382 from Nifty Monday futures’ close.
India’s domestic headline inflation growth breached much above expectations and reached a 15-month high of 7.44 per cent in July led by food prices. This, coupled with downbeat cues from global markets overnight, may dent the sentiment on Wednesday.
Overnight in the US, the S&P 500 fell 1.16 per cent, the Dow shed 1.02 per cent and the Nasdaq slumped 1.14 per cent after reports said that Fitch Ratings could downgrade dozens of US banks, including JPMorgan Chase as the lenders face the risk of a reduction in their assessment score.
Asian markets also declined this morning with Nikkei, Hang Seng, Strait times and Kospi falling 0.6-1.4 per cent.
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