Sensex Sheds 420 Points, Nifty Holds 18,000 On Weak Global Cues

Sensex Sheds 420 Points, Nifty Holds 18,000 On Weak Global Cues

Sensex and Nifty, the two key equity benchmarks, declined over 410 points to close below the 61,000-mark on Thursday, tracking weakness in M&M, Bajaj Finserv and Reliance Industries amid widespread selling pressure in global markets. A weakening rupee also put pressure on domestic equities, traders said.

The BSE Sensex ended 420 points (0.69 per cent) lower at 60,613. The index moved between a high of 60,848 and a low of 60,425. On the other hand, the broader NSE Nifty fell 128 points (0.71 per cent) to end at 18,028.

On the 30-share Sensex platform, Axis Bank was the biggest loser, shedding 3.54 per cent, followed by Bajaj Finserv, Titan, M&M, Bajaj Finance, and IndusInd Bank. On the flip side, HDFC twins, Bharti Airtel, Kotak Bank, Dr Reddy’s, and HUL were the gainers, climbing up to 1.13 per cent.

Sectorwise, all the indices ended in the red with indices falling in the range of 0.3 per cent to 2 per cent.

Elsewhere in Asia, bourses in Shanghai, Tokyo, Seoul and Hong Kong closed with significant losses. Stock exchanges in Europe too were trading in the negative territory during the afternoon session.

International oil benchmark Brent crude slipped 0.06 per cent to $92.59 per barrel.

Foreign institutional investors (FIIs) remained net buyers in the Indian capital market on Wednesday, as they bought shares worth Rs 386.83 crore, as per exchange data.

Meanwhile, the rupee depreciated by 30 paise to close at 81.77 (provisional) against the US dollar on Thursday, as participants remained cautious ahead of the release of the US inflation data.

At the interbank foreign exchange market, the local unit opened at 81.61 and witnessed a high of 81.54 and a low of 81.92. It finally settled at 81.77 against the American currency, registering a fall of 30 paise over its last close of 81.47.