Nifty ends below 8700 on global woes

The benchmark indices recovered from their day's lows but still ended in the red as global pressures intensified. The Nifty gave up 8700 and was down 11.95 points or 0.1 percent at 8697.60. The Sensex ended down 45.07 points or 0.2 percent at 28061.14 The Bank Nifty managed to end in the green with select banking stocks outperforming. 

 

The midcaps mirrored the benchmark indices and ended one-tenth of a percent in the red. Global markets are wobbly as the sterling crashed to a 31-year low in a flash crash. The currency tanked as much as 6 percent to USD 1.1819 and later recovered to hover at the USD 1.24 handle. Asian markets also fell after the currency dropped. European stocks were lower as investors remained cautious ahead of US jobs report and plunge in sterling.

 

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