Nifty futures, Asian indices down on Wall St slump

Hong Kong: Markets across Asia are in the red this morning, weighed down by the usual suspects - prospects for the global economy and renewed fears about the escalation of the sovereign debt crisis in Greece and Spain.

As at 7.30 am IST, Nifty futures are down about one-half of 1 percent. They were down by a lot more in early trades - in excess of eight-tenths of 1 percent - but have since retraced some of that sharp downslide.Elsewhere across the Asia-Pacific region, most indices are similarly clawing back from a sharp fall at the start.

Overall, we'll likely see a volatile day of trading after a slightly weak start to the trading day. Reuters

Tokyo's Nikkei, however, is the hardest to fall, down over 1.3 percent on a stronger yen, which is hurting exporters. Hong Kong's Hang Seng Index too is down about four-tenths of 1 percent, up a tick in volatile trades from where it was at the start of trading day. The Shanghai Composite is faring a lot better, up about one-tenths of 1 percent, but then, it's always been a market that marches to the beat of its own drum.

Listen to market audio:

Those early morning sharp falls were triggered by another horrendous trading day on Wall Street, which sawits third straight day of losses: the Dow Jones Industrial Average index, in particular, fell by triple digits for the the third successive day. Investor sentiment was weighed down by fears from Europe that Greece may not be done with debt restructuring, and Spain would need a bailout.

US corporate earnings came in weak, with Apple missing its topline and bottomline target by a mile, on lower than expected iPhone sales.

Back home, analysts are fretting about the absence of the promised policy action from the government even after the Presidential election process has been completed. The extent of shortfall of a deficient monsoon is beginning to become clear, and could also drag down sentiment.

Overall, we'll likely see a volatile day of trading after a slightly weak start to the trading day.

Updated Date: Dec 20, 2014 11:44 AM

Also Watch

Watch: Firstpost test rides the new Thunderbird 500X in Goa and walks you through the Royal Enfield Garage Cafe
  • Tuesday, April 17, 2018 Varun Dhawan on Shoojit Sircar's October, 5-star reviews and working with Anushka Sharma in Sui Dhaaga
  • Saturday, April 14, 2018 Ambedkar Jayanti: Re-visiting Babasaheb's ideals exposes fake Dalit politics of Rahul Gandhi and Congress
  • Monday, April 9, 2018 48 hours with Huawei P20 Pro: Triple camera offering is set to redefine smartphone imaging
  • Monday, April 16, 2018 Rajyavardhan Singh Rathore interview: Sports can't be anyone's fiefdom, we need an ecosystem to nurture raw talent

Also See