Domestic stock markets collapsed. The Sensex fell nearly a thousand points early on Friday. The Nifty has followed a similar path. Shares of all sectors like Bank, Small and Mid Cap are under heavy selling pressure. The domestic market has been wiped out for the past two days mainly due to weak international markets. US bond yields hit a one-year high, boosting global market sentiment. However, the Sensex, which had recovered from its early fall, is currently trading at 50,396 with a loss of 676 points, while the Nifty is trading at 14,914 with a loss of 179 points.
Wall Street’s major indices collapsed on Thursday, with the Nasdaq index hitting its biggest fall in four months. The biggest intraday since January 28 led to a loss. Japan 225 was down 1.8 percent, while Hong Kong and Hong Kong Seng Futures lost 1.69 percent. The NSO, on the other hand, is set to release its gross domestic product (GDP) growth forecasts for the third quarter (October-December) of the 2020-21 market today. The Indian economy is expected to recover in October-December after two consecutive quarters of contractions. Investor vigilance continues in the wake of these developments.