Last Updated: October 26, 2023, 09:41 IST
Taking cues from overseas, equity markets started sharply lower on Thursday, extending the spate of losses for a sixth day. The BSE Sensex fell 400 points to 63,641, and the NSE Nifty50 slipped 120 points to break below 19,000.
Tech M, M&M, HDFC Bank, Ultratech, Tata Motors, Bajaj Finserv led losses on the Sensex, sliding 1-2 per cent. While Axis Bank, IndusInd Bank and HCL Tehc were the only stocks in green.
The broader markets opened with sharp losses too. The BSE MidCap and SmallCap indices fell 1 per cent each.
Shares of Indian IT services company Tech Mahindra fell as much as 3.7 per cent in early trade on Thursday, a day after the company posted its biggest profit drop in 16 years. The company reported a 61.6 per cent fall in its consolidated net profit for the September quarter, its worst performance since March 2007.