A view of the Bombay Stock Exchange in Mumbai.
| Photo Credit: Reuters

Equity benchmark indices Sensex and Nifty plunged more than 1% on Tuesday (October 22, 2024) due to across-the-board selloff amid massive foreign fund exodus from the capital markets and sluggish global equities.

Besides, a weak earnings growth trend also dented market sentiment, traders said.

Extending its previous day’s decline, the BSE Sensex plummeted 930.55 points or 1.15% to settle at 80,220.72. During the day, it tanked 1,001.74 points or 1.23 % to 80,149.53.

The NSE Nifty tumbled 309 points or 1.25% to 24,472.10.

From the 30 Sensex pack, Mahindra & Mahindra, State Bank of India, Power Grid, Tata Steel, IndusInd Bank, Tata Motors, Larsen & Toubro, NTPC, Bajaj Finance and Reliance were among the biggest laggards.

In contrast, ICICI Bank, Nestle and Infosys were the gainers from the pack.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,261.83 crore on Monday, while Domestic Institutional Investors (DIIs) bought equities worth ₹3,225.91 crore, according to exchange data.

Shares of Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, on Tuesday made a muted market debut and ended over 7% lower against the issue price of ₹1,960.

In Asian markets, Seoul and Tokyo settled lower, while Shanghai and Hong Kong ended higher.

European markets were trading lower. The U.S. markets ended on a mixed note on Monday.

Global oil benchmark Brent crude climbed 0.61% to $74.74 a barrel.

The BSE benchmark declined 73.48 points or 0.09% to settle at 81,151.27 on Monday (October 21, 2024). The Nifty dipped 72.95 points or 0.29% to 24,781.10.

A view of the Bombay Stock Exchange in Mumbai. File
| Photo Credit: Reuters

Equity benchmark indices tumbled nearly 1.5 per cent on Monday (September 30, 2024) due to heavy selling in frontline stocks Reliance Industries, ICICI Bank and HDFC Bank amid rising geopolitical risks in the Middle East and weakness in Japanese markets.

Besides, profit-taking after a record-breaking rally and foreign fund outflows added to the gloom, analysts said.

The BSE Sensex tumbled 1,272.07 points or 1.49% to settle at 84,299.78. During the day, it plunged 1,314.71 points or 1.53% to 84,257.14.

The NSE Nifty tanked 368.10 points or 1.41%t to 25,810.85.

From the 30 Sensex firms, Reliance Industries and Axis Bank declined over 3 per cent each. ICICI Bank, Nestle, Tech Mahindra, Mahindra & Mahindra, Maruti, Bajaj Finserv, State Bank of India and Tata Motors were the other major laggards.

In contrast, JSW Steel, NTPC, Tata Steel, Titan and Asian Paints were the gainers.

“Global markets turned topsy-turvy under the threat of rising geopolitical risk in the Middle-East and plausible increase in Yen interest rate which can reduce cross country investments in equity. On the contrary, the Chinese market had a resurgence due to a large stimulus package and cheap valuation. India also weakened under the global pressure and premium valuation while metals are expected to outperform in the near-term,” said Vinod Nair, Head of Research, Geojit Financial Services.

In Asian markets, Seoul and Tokyo settled with deep cuts, while Shanghai and Hong Kong ended sharply higher.

Japan’s benchmark Nikkei 225 index tanked nearly 5 per cent on Monday. The Shanghai Composite index surged 8 per cent amid fresh stimulus measures announcement.

European markets were trading lower. The US markets ended on a mixed note on Friday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,209.10 crore on Friday, according to exchange data.

Global oil benchmark Brent crude declined 0.19% to $71.84 a barrel.

The BSE benchmark Sensex declined 264.27 points or 0.31% to settle at 85,571.85 on Friday. During the day, it climbed 142.13 points or 0.16% to reach a new record intra-day peak of 85,978.25.

The Nifty dipped 37.10 points or 0.14% to 26,178.95 after rising 61.3 points or 0.23% to an all-time intra-day peak of 26,277.35 during the session.

Benchmark equity indices Sensex and Nifty slumped over 1% on Friday (September 6, 2024), tracking a weak trend in global markets and fresh foreign fund outflows.
| Photo Credit: PTI

Benchmark equity indices Sensex and Nifty slumped over 1% on Friday (September 6, 2024), tracking a weak trend in global markets and fresh foreign fund outflows.

Falling for the third day running, the 30-share BSE Sensex tumbled 1,017.23 points or 1.24 per cent to settle at 81,183.93. During the day, it plunged 1,219.23 points or 1.48 per cent to 80,981.93.

The NSE Nifty dropped 292.95 points or 1.17 per cent to 24,852.15, its third day of decline.

Among the 30 Sensex firms, State Bank of India tanked over 4%. NTPC, ICICI Bank, HCL Technologies, Reliance Industries, Axis Bank and ITC were the other major laggards.

Bajaj Finance, Asian Paints, JSW Steel and Maruti were among the gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled lower.

European markets were trading in the red. The US markets ended mostly in the negative territory on Thursday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹688.69 crore on Thursday, according to exchange data.

Meanwhile, global oil benchmark Brent crude climbed 0.14% to $72.79 a barrel.

“The near-term trend in the market will be influenced by the US jobs data to be published tonight,” said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

On Thursday, the BSE benchmark failed to hold on to initial gains and declined 151.48 points or 0.18% to settle at 82,201.16. The NSE Nifty dipped 53.60 points or 0.21% to 25,145.10 despite a positive beginning of the trade.