CLOSING BELL: Tata Steel fell over 4 per cent, while Asian Paints, Wipro, L&T, Bajaj twins, Ultratech Cement, Axis Bank, Sun Pharma, Tech M, ICICI Bank, & SBI declined in the range of 2-3.5 per cent

Sensex tanks 872pts, Nifty gives up 17,500 amid global sell-off; ITC shines

<b>CLOSING BELL<br />
<br />
Stock market highlights:&nbsp;</b>Investors chose to dump equities on Monday as global macro-economic concerns resurfaced. The S&P BSE Sensex slumped nearly 900 points intra-day before closing at 58,774, down 872 points or 1.46 per cent. All but ITC and Nestle India settled in the negative zone on the 30-pack index.<br />
&nbsp;<br />
<div>
	Tata Steel fell over 4 per cent, while Asian Paints, Wipro, L&T, Bajaj twins, Ultratech Cement, Kotak Bank, Axis Bank, Sun Pharma, Tech M, ICICI Bank, and SBI declined in the range of 2-3.8 per cent.<br />
	<br />
	On the NSE, the Nifty50 settled below the crucial level of 17,500 at 17,491, down 268 points or 1.51 per cent. The broad-based sell-off was led by the Nifty Metal index (down 3 per cent), the Nifty Realty index (2.7 per cent), and the Nifty PSB index (2.2 per cent).<br />
	<br />
	<strong>ALSO READ: <a href="https://www.business-standard.com/article/markets/should-you-fret-over-the-recent-market-sell-off-here-s-what-charts-suggest-122082200387_1.html" target="_blank">Should you fret over the recent market sell-off? Here&#39;s what charts suggest</a></strong><br />
	<br />
	In the broader markets, the BSE MidCap index skidded nearly 2 per cent, while the BSE SmallCap index ended 1.15 per cent lower.<br />
	<br />
	<strong>Global markets</strong></div>
<div>
	European markets retreated on Monday as fears of more aggressive interest rate hikes from the Federal Reserve and the European Central Bank returned to the fore.<br />
	<br />
	<strong>ALSO READ: <a href="https://www.business-standard.com/article/markets/fomo-or-attractive-valuation-what-drew-fiis-back-to-indian-equities-122082200334_1.html" target="_blank">FOMO or attractive valuation? What drew FIIs back to Indian equities?</a></strong><br />
	<br />
	The pan-European Stoxx 600 slipped 1.2 per cent by mid-morning, with autos falling 2.8 per cent to lead losses as all sectors and major bourses traded in negative territory.&nbsp;<br />
	<br />
	On Wall Street, Nasdaq Futures led the losses with over 1 per cent cut. Earlier in Asia, Nikkei gave up 0.47 per cent, Kospi 1.2 per cent, and and Hang Seng 0.6 per cent.&nbsp;</div>

Business Standard

Sensex tanks 872pts, Nifty gives up 17,500 amid global sell-off; ITC shines | News on Markets - Business Standard

PRE-OPEN | Sentiment weak; Sensex down 270 points

CURRENCY ALERT | Rupee opens 5 paise weaker at 79.83/$

Stocks on radar: L&T, Adani Power, Ambuja Cements, LIC, Paytm, JSW Steel

<div>
	Stocks to watch today: L&amp;T commissioned a new green hydrogen plant at Hazira in Gujarat; Future Enterprises defaults on payments of interest of two non-convertible debentures (NCDs) of Rs 12.6 crore. <a href="https://www.business-standard.com/article/markets/stocks-to-watch-adani-power-ambuja-cements-lic-paytm-jsw-steel-wockhardt-future-enterprises-122082200098_1.html" target="_blank"><strong>Read here</strong><br />
	<br />
	<img alt="Trading" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-05/09/full/1652119979-8862.png?im=Resize,width=640" /></a></div>

PRIMARY MARKET | PharmEasy calls off IPO; to go for rights issue instead

<div>
	API Holdings, the parent company of PharmEasy, wrote to shareholders announcing withdrawal of DRHP. <a href="https://www.business-standard.com/article/companies/pharmeasy-calls-off-its-public-offer-to-go-for-rights-issue-instead-122082000897_1.html" target="_blank"><strong>Read more</strong><br />
	<br />
	<img alt="PharmEasy" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-06/25/full/1624629384-3559.jpg?im=Resize,width=640" /></a></div>

RBI WATCH | Lesser rate hikes will be needed if CPI falls below forecasts: Ashima Goyal

<div>
	Liquidity should be in surplus as long as Fed&#39;s quantitative tightening continues. <a href="https://www.business-standard.com/article/economy-policy/lesser-rate-hikes-will-be-needed-if-cpi-falls-below-forecasts-ashima-goyal-122082100192_1.html" target="_blank"><strong>Read here</strong><br />
	<br />
	<img alt="Ashima Goyal, a member of the Monetary Policy Committee" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-08/21/full/1661103996-118.jpg?im=Resize,width=640" /></a></div>

DII outflows: Sell Rs 1,633 crore of shares Friday

FIIs maintain momentum: Buy Rs 1,111 crore of shares Friday

Rupee weakens 10 paise to close at 79.78/$ Friday

<div style="float: left;">
	<img align="left" alt="Chart" class="imgCont" height="251" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-08/22/full/1661137805-0461.PNG" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="529" />
	<div style="float: left; clear: both; font-style:italic; padding: 10px 10px 10px 0px; width:529px;">
		source: bloomberg</div>
</div>
<br />

Oil prices down 1% on reports West close to striking Iran nuclear deal

<div style="float: left;">
	<img align="left" alt="Chart" class="imgCont" height="159" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-08/22/full/1661137699-2778.PNG" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="316" />
	<div style="float: left; clear: both; font-style:italic; padding: 10px 10px 10px 0px; width:316px;">
		source: oilprice.com</div>
</div>
<br />

US futures hold tepid losses as cash market rally fizzles last week

<div style="float: left;">
	<img align="left" alt="Chart" class="imgCont" height="85" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-08/22/full/1661137509-8275.PNG" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="494" />
	<div style="float: left; clear: both; font-style:italic; padding: 10px 10px 10px 0px; width:494px;">
		source: finance.yahoo.com</div>
</div>
<br />

ALERT :: Indonesia may impose a tax on exports of the metal this year, reports Bloomberg

&gt;&gt; Indonedia is the world&#39;s&nbsp;biggest nickel producer

ASIA UPDATE | China cuts benchmark lending rates to arrest economic slowdown

China 5-year August Loan Prime Rate (LPR) at 4.3% vs 4.45% MoM<br />
<br />
And one-year LPR now at 3.65% from 3.7%

Asian markets reverse early losses as China cuts lending rates

<div style="float: left;">
	<img align="left" alt="Chart" class="imgCont" height="351" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-08/22/full/1661136952-4816.PNG" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="568" />
	<div style="float: left; clear: both; font-style:italic; padding: 10px 10px 10px 0px; width:568px;">
		source: Reuters</div>
</div>
<br />