Markets in Consolidation Mode

Hang Seng was the worst-performing Asian index, slipping by 3.63 per cent. The European markets traded in the negative with FTSE slipping by 2.86 per cent, DAX down by 0.75 per cent and CAC 40 losing 0.69 per cent. Shanghai was down by 2.04 per cent. The mid-caps and small-caps underperformed the key benchmark indices

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After a sharp rally in equity prices month-on-month since June, the markets have shown signs of a breather in September. The Sensex slipped by 1.12 per cent in the past two weeks. Nifty tumbled 1.30 per cent, thus outperforming the global markets. The Dow Jones Industrial Average was down by 2.85 per cent in the similar period while S & P 500 slipped by 2.90 per cent. Nasdaq was the worst-performing global index, slipping by 4.68 per cent. Nikkei was the best performing index, globally gaining by 1.26 per cent in the past 15 days.