Both BSE and Nifty tumbled on October 25, 2024, after Indusind Bank shares tanked. Image for representational purpose.
| Photo Credit: VIVEK BENDRE

Investors’ wealth eroded by a whopping ₹7.15 lakh crore during the morning trade on Friday as equity markets tumbled, driven by sharp fall in IndusInd Bank shares and unabated foreign fund outflows.

The BSE Sensex tanked 708.69 points to 79,356.47 and the NSE Nifty plunged 286.35 points to 24,113.05.

Tracking the weak trend in equities, the market capitalisation of BSE-listed firms tumbled ₹7,15,739.19 crore to ₹4,36,63,565.73 crore (USD 5.19 trillion) during the morning trade.

From the 30 Sensex pack, IndusInd Bank plunged over 19 per cent after the firm reported a 40 per cent decline in September quarter net profit at ₹1,331 crore, pulled down majorly by concerns about asset quality.

Mahindra & Mahindra, NTPC, Larsen & Toubro, Adani Ports, Titan, Tata Steel and JSW Steel were also among the laggards.

From the blue-chip pack, ITC jumped over 3 per cent after the diversified entity reported an 1.8 per cent increase in its consolidated net profit to ₹5,054.43 crore in the second quarter ended September 2024. ITC’s revenue from operations jumped 15.62 per cent to ₹22,281.89 crore during the July-September period.

Asian Paints, Sun Pharma, Nestle and Hindustan Unilever were the other big gainers.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,062.45 crore on Thursday, according to exchange data, while Domestic Institutional Investors (DIIs) bought ₹3,620.47 crore shares.

In Asian markets, Seoul, Shanghai, and Hong Kong traded higher while Tokyo quoted lower.

The US markets ended mostly higher on Thursday.

Global oil benchmark Brent crude climbed 031 per cent to $74.61 a barrel.

In an uninspiring trade, the BSE benchmark dipped 16.82 points or 0.02 per cent to settle at 80,065.16 on Thursday. The Nifty skidded 36.10 points or 0.15 per cent to 24,399.40 in a volatile trade.

Equity benchmark indices declined in early trade on Wednesday, October 18, 2023 amid sluggish global market trends and spike in Brent crude oil prices.

After a day’s breather, the 30-share BSE Sensex declined 161.41 points to 66,266.68. The Nifty skidded 36.7 points to 19,774.80.

Among the Sensex firms, Bajaj Finance, Power Grid, Bajaj Finserv, ICICI Bank, HDFC Bank, NTPC and Larsen & Toubro were the major laggards.

Tata Motors, JSW Steel, Tata Steel and Sun Pharma were among the gainers.

In Asian markets, Tokyo, Shanghai and Hong Kong were trading in the negative territory while Seoul quoted in the green.

The US markets had ended on a mixed note on Tuesday.

Global oil benchmark Brent crude jumped 1.87 per cent to $91.58 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth ₹263.68 crore on Tuesday, according to exchange data.

The BSE benchmark had climbed 261.16 points or 0.39 per cent to settle at 66,428.09 on Tuesday. The Nifty gained 79.75 points or 0.40 per cent to 19,811.50.