A total of 2,232 firms declined, while 1,426 advanced and 142 remained unchanged on the BSE. (Representative image/Reuters)
The 30-share BSE Sensex plummeted 900.91 points or 1.41 per cent to settle below the 64,000 mark at 63,148.15.
Dalal Street investors’ wealth plunged Rs 17.77 lakh crore as markets fell for a sixth straight session on Thursday, with investors remaining a worried lot amid escalating tension in the Middle East. Besides, fresh foreign fund outflows also dented sentiments in equity markets.
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The 30-share BSE Sensex plummeted 900.91 points or 1.41 per cent to settle below the 64,000 mark at 63,148.15. During the day, it dived 956.08 points or 1.49 per cent to 63,092.98. Since October 17, the BSE benchmark has tumbled 3,279.94 points or 4.93 per cent.
The market capitalisation of BSE-listed companies plunged by Rs 17,77,622.41 crore to Rs 3,06,04,802.72 crore during this period. ”In the backdrop of weak global cues, investors shunned local equities at will on the monthly F&O expiry day with benchmark Nifty closing below the crucial 19k mark amid sell-off in frontline banking, automobile and IT stocks.
“Investors are worried about the simmering West Asia conflict, economic uncertainty and rate hike woes, and hence maintained their bearish stance for the sixth straight session,” Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd, said.
Mahindra & Mahindra was the biggest drag in the Sensex pack, falling 4.06 per cent, followed by Bajaj Finance, Asian Paints, Bajaj Finserv, Nestle, Titan, JSW Steel, Tech Mahindra, HDFC Bank, Tata Motors and Larsen & Toubro. In contrast, Axis Bank, ITC, HCL Technologies, NTPC and IndusInd Bank were the gainers.
A total of 2,232 firms declined, while 1,426 advanced and 142 remained unchanged on the BSE.
“The market correction has been led by two primary factors: global geopolitical tensions and rising bond yields in the US markets. These challenges have a long-term impact on equities, but domestic factors in India remain encouraging,” said Naveen Kulkarni, Chief Investment Officer, Axis Securities PMS.
In the broader market, the BSE midcap gauge fell 1.06 per cent and the smallcap index declined 0.32 per cent. Among the indices, auto dropped 1.81 per cent, oil & gas slipped 1.54 per cent, metal (1.54 per cent), financial services (1.46 per cent), consumer discretionary (1.41 per cent), consumer durables (1.41 per cent), telecommunication (1.25 per cent), realty (1.22 per cent) and teck (1.16 per cent).
Utilities and power were the gainers.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)
