10:00 Market update: After severe cuts in early trade, the market has recovered a bit.The Sensex is down 696.21 points or 2.5 percent at 26894.93,
and the Nifty down 229.85 points or 27 percent at 8313.70. About 144 shares have advanced, 1929 shares declined, and 52 shares are unchanged.
9:56 am Pressure on global markets will have a spillover effect on Indian equities, says Nilesh Shah.
9:55 am FII view: Lot of negative triggers could keep the market in check for the next few weeks or even a couple of months, says Nilesh Shah of
Envision. This could lead to the market retesting the lows of Brexit. But this represents a good opportunity to accumulate quality shares, he says
9:50 am Forex woes: The dollar tumbled against the yen and euro while the Mexican peso fell off a cliff as polling results in the knife-edge US presidential race pointed to a strong showing by property mogul Donald Trump.
The greenback plunged 3.8 percent to 101.50 yen while it lost almost two percent against the euro, which bought USD 1.1224 in Tokyo trading.
The peso, which has become a proxy for the property mogul’s chances of becoming US president, slumped to below 20 against the dollar, an historic low.
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