Sensex Tumbles 334 Factors; Nifty Drops Beneath 15,650
Fairness benchmark Sensex tanked 334 factors on Wednesday, monitoring heavy losses in index heavyweights Reliance Industries, ICICI Financial institution and L&T amid a weak development in world markets.
The 30-share BSE index ended 333.93 factors or 0.64 per cent decrease at 51,941.64. Equally, the broader NSE Nifty slumped 104.75 factors or 0.67 per cent to fifteen,635.35.
L&T was the highest loser within the Sensex pack, shedding round 2 per cent, adopted by Reliance Industries, Bajaj Finserv, IndusInd Financial institution, SBI, Maruti, Axis Financial institution and Bajaj Auto.
However, PowerGrid, NTPC, Titan, HCL Tech and Asian Paints have been among the many gainers.
“Domestic equities fell sharply as selling pressure in financials, auto and RIL dragged indices down,” mentioned Binod Modi, Head – Technique at Reliance Securities.
This was the steepest correction after Could 12, he mentioned, including that each one key sectoral indices witnessed promoting strain as buyers most well-liked to ebook some quantity of revenue forward of essential CPI information within the US.
Additional, Asian markets additionally traded weak at present primarily reacting on higher-than-expected leap in China’s producer value index at 9 per cent for Could.
Elsewhere in Asia, bourses in Seoul, Tokyo and Hong Kong closed within the crimson, whereas Shanghai ended with beneficial properties.
Equities in Europe have been additionally buying and selling on a adverse observe in mid-session offers.
Worldwide oil benchmark Brent crude was buying and selling 0.36 per cent larger at USD 72.48 per barrel.
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