Bitcoin falls 8.1% from its peak in last 24 hours
Bitcoin retreated from its record high of more than $73,000 as the market witnessed a selloff and higher-than-predicted US inflation data signalled that interest rates might stay high.
Bitcoin retreated from its record high of more than $73,000 as the market witnessed a selloff and higher-than-predicted US inflation data signalled that interest rates might stay high.
“Investors have time, even now, to switch from small-caps to fairly valued large-caps and partly to fixed income products. At this stage in the market, safety should be given priority over return," he said.
India’s market cap is currently the 5th largest globally (US $4.5 trillion) but its weight in global indices is still low at 1.6% (10th rank), foreign brokerage, Jefferies said in a report.
The market benchmarks extended their gains into the fourth consecutive session.
At close, the Sensex was down 523 points or 0.73 per cent at 71,072.49, and the Nifty was down 166.50 points or 0.76 per cent at 21,616.
On the broader market, the S&P MidCap and SmallCap index ended 1.6 per cent and 0.76 per cent higher respectively.
Major laggards were led by SBI that slipped by 13.27 per cent, followed by ONGC, Axis Bank, Tata Motors and ITC.
The Sensex ended up 61.13 points at 38,470.61 and Nifty closed at 11,258.95 high by 7.95 per cent.
The yellow metal for April delivery dropped by Rs 178, or 0.45 per cent, to Rs 38,822 per 10 gram in 207 lots.
The yellow metal for April delivery traded higher by Rs 12, or 0.03 per cent, at Rs 40,691 per 10 gram in a business turnover of 288 lots.