Losses largely came from the metal index, followed by power, infrastructure, realty, PSU, oil and gas, capital goods, FMCG, healthcare, auto and banking.
The rating outlook change is relevant now, as the US Federal Reserve is set to end its monthly bond-buying programme in October.
'Life will not improve overnight; it will happen in a gradual manner.'
Tata Steel was the top loser in the Sensex pack, sinking over 5 per cent, followed by SBI, IndusInd Bank, Bajaj Finance, HDFC Bank and NTPC. NSE Nifty tanked 371 points to 16,614.20.
'There will be massive differences in sectors and stocks over the next few years.'
Billionaire Gautam Adani on Sunday won the race to acquire Swiss cement major Holcim's stake in Ambuja Cements and its subsidiary ACC for $10.5 bn (around Rs 81,361 crore), including the open offers. The Adani family, through an offshore special-purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Holcim Ltd's entire stake in two of India's leading cement companies -- Ambuja Cements and ACC -- the Adani group said in a statement. The group outbid Ultratech and JSW group to enter the cement industry and also emerge as the country's second-largest cement manufacturer, with 70 million tonnes of capacity annually.
2013 foreign currency non-resident deposits to mature in Sep-Nov
Asia to stay flat in 2017. India is better-placed given its low export dependence and it should outperform Asian peers this year says Mixo Das, India strategist for financial major Nomura
Swine flu scare could make foreign institutional investors pull out money from Indian equity markets even though they remained net investors in March and April this year, says Moody's.
Trade sanctions on Russia by Europe and the US offer an opportunity for India, but the devaluation of the rouble may play spoilsport
The wider NSE Nifty too fell by 20.15 points or 0.19 per cent to end at 10,749.75.
Bank of America (BofA) Securities expects India to be the third-largest economy in the world by 2031. The economic rise could become a reality by 2028, but the Covid pandemic delayed the pace, BofA Securities economists Indranil Sen Gupta and Aastha Gudwani wrote in a report.
Monetary policy stance to depend on inflation data
Kotak Bank was the top laggard in the Sensex pack, shedding over 2 per cent, followed by ITC, PowerGrid, M&M, HDFC, Asian Paints and NTPC. On the other hand, Maruti rallied over 4 per cent. Bharti Airtel, Axis Bank, IndusInd Bank and Bajaj Finance were also among the gainers.
While FIIs have pumped in nearly Rs 17,000 crore, MFs have been net buyers to the tune of Rs 9,000 crore.
BSE Midcap index outperformed the benchmark indices to end with 0.4% gains.
It won't be an easy ride for the markets, reckon experts, considering the multiple state elections in 2018 and general elections next year.
Reddy has worked to reform the economy.
While three of the top five FPIs - Capital, Government of Singapore, and Vanguard - have seen their investment value more than triple, India's benchmark indices have risen just 70%.
Foreign portfolio investors (FPIs) have pumped in a whopping $33.8 billion into domestic equities and debt till February 15 this fiscal year -- the highest since FY15 when it was nearly $46 billion --taking their net outstanding investments to a record $592.5 billion, as per a report. Of the total FPI assets of $592.5 billion, $537.4 billion were in equities and $51.38 billion in debt, according to the data collated by Care Ratings. The maximum holding is in financial services sector at $191.3 billion, followed by software ($76.1 billion), oil & gas ($50 billion), automobiles & auto components ($26.9 billion, pharmaceuticals & biotechnology ($22.8 billion), sovereign ($21.7 billion--debt), household & personal products ($20.2 billion), capital goods ($19.8 billion), food, beverages & tobacco ($15.7 billion) and insurance ($13.4 billion).
Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent.
Rupee movement, global cues key for stocks this week: Experts
Sensex zooms 200 points in Muhurat trading, Nifty regains 7,800.
The 30-share Sensex ended down 604 points at 28,845 and the 50-share Nifty ended down 181 points at 8,757. The Bank Nifty ended down 602 points at 19,146.
It can be noted that the rupee lost nearly 7 per cent since the beginning of May as FIIs have pulled out nearly $4 billion from the domestic debt, as bond yields fell on expectation of RBI cutting rates on Monday.
Total foreign investment in the stock market has reached Rs 90,715 crore so far in 2013.
The central bank measures though are also taking a toll on the banking sector, which is heavily reliant on short-term money markets for capital.
Concerns about the US Federal Reserve withdrawing its stimulus have also affected emerging markets.
If net forex outflows turn out to be relatively high in the next few years, the rupee could depreciate beyond Rs 80 to a dollar by 2022. The causal reasons could, for example, include unmet expectations of FPI and FDI investors about the performance of the Indian economy, sharp rise in prices of imported oil and decrease in FX remittances. The RBI has to ask itself whether guaranteeing future rupee-dollar exchange rates on FX forward contracts is a reasonable way to use its risk-bearing capacity, says Jaimini Bhagwati.
'You can put 25 per cent right now; put another 25 per cent when Nifty corrects another 500 points.' 'At 13,500 put another 25 per cent and at 13,000 one can get fully deployed.'
Notable losers were ONGC, Axis Bank, ITC, SBI, ICICI Bank, NTPC, Hero Motocorp, Sun Pharma and Bharti Airtel who fell by up to 2.80 per cent.
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The partially convertible rupee closed at 66.24/25 per dollar after hitting a record low of 66.30, and down 2.9 per cent from its close of 64.30/31 on Monday.
Rating agency expects current account deficit to remain at a modest 1.4% at end of FY16 and stay at similar level till 2018
Positive cues from Asian peers also uplifted the sentiment.
Chances of a sudden collapse in the Shanghai Composite are remote.
Rising rural distress due to back-to-back droughts have put pressure on FM to spend more on social schemes; no change in tax slabs likely
The Indian rupee slumped to a record low near 69 to the dollar on Wednesday on growing worries that foreign investors will continue to sell out of a country facing stiff economic challenges and volatile global markets.
Foreign portfolio investors, on the other hand, have been net sellers in the markethaving pulled out Rs 8,600 crore
