Among Asian peers, Hang Seng, Shanghai Composite, Nikkei 225, KOSPI, and KOSDAQ were down in the red. TOPIX was up with gains.(Image: REUTERS)
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic markets halted their rally and closed in the red on Wednesday. On closing yesterday, S&P BSE Sensex was at 49,902 while the Nifty 50 index was at 15,030. SGX Nifty was up 30 points on Thursday morning, hinting at a positive start for domestic markets on the weekly expiry. Cues from global cues, however, remain negative. Wall Street benchmark indices closed in the red on Wednesday as the inflation scare continued to push investors away. Among Asian peers, Hang Seng, Shanghai Composite, Nikkei 225, KOSPI, and KOSDAQ were down in the red. TOPIX was up with gains.
Cryptocurrency investors continued to face losses as Bitcoin, Ethereum, Binance Coin, Dogecoin, Cardano, Polkadot, Litecoin and other such assets extended their losses on Wednesday. Bitcoin hit a low of nearly $30,000 before recovering some losses, Ethereum down 24% in the last 24 hours, Dogecoin down 26%, and Litecoin tanked 32%. Bitcoin’s marginal recovery came after Tesla CEO Elon Musk’s cryptic tweet suggested that the company was not selling its Bitcoin holdings. Earlier, Elon Musk’s tweets had led investors to believe Tesla might sell its Bitcoin holdings. The fall has been augmented by China’s ban on cryptocurrency services. “A nearly 40% dip in the bitcoin price from its all-time high looks dramatic but is normal in many volatile markets, including crypto, especially after such a large rally. Such corrections are mainly due to short-term traders taking profits. Long-term value investors might call these lower prices a buying opportunity, as MicroStrategy just did,” said Avinash Shekhar, Co-CEO of ZebPay.
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