4 Sep 2020 – Market Update: Sensex, Nifty decline

On Friday, the domestic benchmark indices tanked on global cues. Sensex plunged by 633.76 points or 1.63 per cent to close at 38,357.18 while, Nifty fell by 193.60 points or 1.68 per cent to settle at 11,333.85. While Chicago Board Options Exchange's CBOE VIX that was coming towards its longer-term average price of 19.4 spiked 7.03 points, India VIX jumped 7.15 per cent to 21.97. This further reflects an expectation of volatility, going ahead. As the cases of Coronavirus continue to increase in August, activities in the service sector fell for the sixth month even as the rate of contraction slowed. PMI for services rose to 41.8 in August as compared to 34.2 in July, which is still 8 points below the 50-point mark. Tracking a huge sell-off on Wall Street, where investors…
Read More