Sharp Dow selloff drags down Asian markets, Nifty futures

Hong Kong: Global equity markets are in retreat this morning, after weak consumer data out of the US and a late-afternoon selloff dragged down indices on Wall Street.

The Indian market may have dodged a bullet yesterday after Finance Minister Pranab Mukherjee held out reassurances that there would be no blanket taxation of Participatory Notes, but this morning, negative sentiment is weighing in at the start.

As at 7.30 am IST, most of the indices across the Asia-Pacific region are down uniformly by around 1 percent. The only exception is Sydney, where which is up about one half of 1 percent. No particular reason other than that the overnight cues from Wall Street were decidedly weak.

Global equity markets are in retreat this morning, after weak consumer data out of the US and a late-afternoon selloff dragged down indices on Wall Street.AFP

All three major indices on Wall Street finished down after a last-hour selloff triggered by weak consumer data and generally lacklustre sentiment out of Europe.

Listen to audio

In line with regional trends, Nifty futures are down about a third of 1 percent this morning.

FII interest in the Indian market is down from the elevated levels of early this year. Much of this owes to a growing disenchantment with the Indian story. And although the markets appears to have been calmed by the Finance Minister's clarification on P-Notes, it's symbolic of the uncertainties that abound.

For this morning, we'll likely see a weak start to the trading day.


Updated Date: Dec 20, 2014 09:20 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