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.

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.