From the Sensex pack, Tata Consultancy Services, Infosys, NTPC, HCL Technologies, Axis Bank, Tech Mahindra, Bajaj Finserv, Sun Pharma, IndusInd Bank and Reliance Industries were the major laggards. File
| Photo Credit: Reuters

Benchmark Sensex declined by 241 points while broader Nifty fell for the seventh session in a row on Monday (November 18, 2024) following a sell-off in IT and oil shares amid unabated foreign fund outflows and weak leads from the U.S. markets.

The 30-share BSE Sensex dropped by 241.30 points or 0.31% to settle at 77,339.01, registering its fourth day of decline. During the day, it fell 615.25 points or 0.79% to 76,965.06. Falling for the seventh day in a row, the NSE Nifty dipped 78.90 points or 0.34% to 23,453.80.

From the 30-share Sensex pack, Tata Consultancy Services, Infosys, NTPC, HCL Technologies, Axis Bank, Tech Mahindra, Bajaj Finserv, Sun Pharma, IndusInd Bank and Reliance Industries were the major laggards.

Tata Steel, Hindustan Unilever, Mahindra & Mahindra, Nestle and State Bank of India were among the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,849.87 crore on Thursday (November 14, 2024), according to exchange data. Foreign investors have pulled out ₹22,420 crore from the Indian equity markets so far this month, owing to high domestic stock valuations, increasing allocations to China, and the rising U.S. dollar as well as Treasury yields.

With this sell-off, Foreign Portfolio Investors (FPIs) have recorded a total outflow of ₹15,827 crore in 2024 so far. Equity markets were closed on Friday (November 15, 2024) for Guru Nanak Jayanti.

“Consolidation continued in the market; a slowdown in earnings growth and a weak Rupee owing to inflation impacted the sentiment. IT stocks reacted negatively today owing to a reduced expectation of a Fed rate cut in December, which may pose a delay in spending in the BFSI segment,” Vinod Nair, Head of Research, Geojit Financial Services, said. The BSE smallcap index declined 0.69% and midcap index dipped 0.17%.

Among sectoral indices, BSE IT dropped the most by 2.34%, followed by tech (1.99%), oil & gas (1.64%), energy (1.21%), utilities (1.04%) and power (0.58%).

Metal jumped 2.14 per cent, while realty (0.62%), auto (0.58%), services (0.53%), consumer durables (0.29%) and bankex (0.22%) also emerged as gainers. As many as 2,486 stocks declined while 1,611 advanced and 127 remained unchanged on the BSE.

In Asian markets, Seoul and Hong Kong settled higher while Tokyo and Shanghai ended lower. European markets were trading in the negative territory. The U.S. markets ended lower on Friday (November 15, 2024). Global oil benchmark Brent crude climbed 0.49% to $71.39 a barrel.

The BSE benchmark Sensex dropped 110.64 points or 0.14% to settle at 77,580.31 on Thursday (November 14, 2024.) The Nifty declined by 26.35 points or 0.11% to 23,532.70.

From the 30 Sensex pack, IndusInd Bank plunged more than 18.50% after the firm reported a 40% decline in September quarter net profit
| Photo Credit: Reuters

Declining for the fifth straight session, equity benchmark Sensex on Friday (October 25, 2024) plunged about 660 points to crash below the 80,000 level owing to widespread selling pressure tracking massive foreign capital outflows and muted earnings growth.

The BSE Sensex plummeted 662.87 points or 0.83% to settle at 79,402.29. During the day, it plunged 927.18 points or 1.15% to 79,137.98. The NSE Nifty tanked 218.60 points or 0.90% to 24,180.80.

From the 30 Sensex pack, IndusInd Bank plunged more than 18.50% after the firm reported a 40% decline in September quarter net profit at ₹1,331 crore, pulled down by concerns over its asset quality.

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

From the bluechip pack, ITC climbed more than 2% after the diversified entity reported an 1.8% increase in its consolidated net profit to ₹5,054.43 crore in the second quarter ended September 2024.

In contrast, Axis Bank, Hindustan Unilever, Sun Pharma and ICICI Bank were the other big gainers. “Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,062.45 crore on Thursday (October 25, 2024), while Domestic Institutional Investors (DIIs) bought ₹3,620.47 crore shares,” according to exchange data.

In Asian markets, Seoul, Shanghai and Hong Kong settled higher, while Tokyo ended lower. European equity markets were trading in positive territory. The U.S. markets ended mostly higher on Thursday (October 24, 2024.) Global oil benchmark Brent crude climbed 0.42% to $74.69 a barrel.

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