The much anticipated and feared announcement of us Federal Reserve accelerating its rollback of bond-buying buy an additional $10 billion a month from - $75 billion to $65 billion beginning from next month - has led to a bloodbath in the global markets starting from US DOW JONES index last night and extending to Asian markets today.
Indians markets are feeling the pinch but the market, while down, is not out.
The Indian markets, apart from the US developmetn and the chinese slowdown, have also to contend with the RBI raising repo rate by 0.25 per cent and the fact that today is the last day of the current trading cycle in the F&O segment.
The turmoil in the currency value in many countries like Turkey and Argentina is also unnerving for the investors.
At 12.10 p.m., the 30-share BSE index sensex was down 198.34 points or 0.96 per cent at 20,448.96 and the 50 share NSE index Nifty was down 59.85 points or 0.98 per cent at 6,060.40.
Barring consumer durables,all other BSE sectoral indices were trading in the red.Among them, realty, metal banking and FMCG plunged the most by 2.5 per cent, 2.18 per cent, 1.92 per cent and 1.64 per cent, respectively. only consumer durables index was up 0.27 per cent.
SSLT, Hindalco, Tata Steel, Hero Motocorp and BHEL were the major sensex losers,while Bharti Airtel,GAIL,Tata Motors, M&M and ONGC were the major sensex gainers.
Asian shares were down as the US Federal Reserve, after its open market committee meeting that ended on wednesday, decided to cut its stimulus programme by another $10 billion to $65 billion a month.
The Fed has been buying bonds and other assets under the programme to shore up the US economy. Since the US economy has started showing signs of recovery, the Fed Reserve has begun to reduce its stimulus.
Glopal Sentiment was also dampened as china's manufacturing sector contracted for the first time in six months in January. The purchasing managers' index fell to 49.5 from 50.5 in December, HSBC Holdings plc markit Economics said in a statement today.
The Dow lost about 190 points yesterday and the markets in Japan, Hong kong and Tailwan were trading weak this morning.
In the Asian trade, Japan's Nikkei Index shed 2.45 per cent, Hong kong's Hang Seng Index fell 0.48 per cent and Australia's S&P/ASX 200 Index shed 0.78 per cent .
Indians markets are feeling the pinch but the market, while down, is not out.
The Indian markets, apart from the US developmetn and the chinese slowdown, have also to contend with the RBI raising repo rate by 0.25 per cent and the fact that today is the last day of the current trading cycle in the F&O segment.
The turmoil in the currency value in many countries like Turkey and Argentina is also unnerving for the investors.
At 12.10 p.m., the 30-share BSE index sensex was down 198.34 points or 0.96 per cent at 20,448.96 and the 50 share NSE index Nifty was down 59.85 points or 0.98 per cent at 6,060.40.
Barring consumer durables,all other BSE sectoral indices were trading in the red.Among them, realty, metal banking and FMCG plunged the most by 2.5 per cent, 2.18 per cent, 1.92 per cent and 1.64 per cent, respectively. only consumer durables index was up 0.27 per cent.
SSLT, Hindalco, Tata Steel, Hero Motocorp and BHEL were the major sensex losers,while Bharti Airtel,GAIL,Tata Motors, M&M and ONGC were the major sensex gainers.
Asian shares were down as the US Federal Reserve, after its open market committee meeting that ended on wednesday, decided to cut its stimulus programme by another $10 billion to $65 billion a month.
The Fed has been buying bonds and other assets under the programme to shore up the US economy. Since the US economy has started showing signs of recovery, the Fed Reserve has begun to reduce its stimulus.
Glopal Sentiment was also dampened as china's manufacturing sector contracted for the first time in six months in January. The purchasing managers' index fell to 49.5 from 50.5 in December, HSBC Holdings plc markit Economics said in a statement today.
The Dow lost about 190 points yesterday and the markets in Japan, Hong kong and Tailwan were trading weak this morning.
In the Asian trade, Japan's Nikkei Index shed 2.45 per cent, Hong kong's Hang Seng Index fell 0.48 per cent and Australia's S&P/ASX 200 Index shed 0.78 per cent .
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