Sensex Slips 241 Points, Nifty Closes Below 23,500, Check Top Details Here – News18

Sensex Slips 241 Points, Nifty Closes Below 23,500, Check Top Details Here – News18


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Stock Market Update: Benchmark indices were trading higher in the pre-opening session.

Sensex Today

Stock Market Updates: Benchmark stock indices Sensex and Nifty continued their decline on Monday owing to unabated foreign fund outflows, selling in IT stocks and weak leads from the US markets.

The 30-share BSE Sensex dropped by 241.30 points or 0.31 per cent to settle at 77,339.01, registering its fourth day of decline. During the day, it fell 615.25 points or 0.79 per cent to 76,965.06.

Falling for the seventh day in a row, the NSE Nifty dipped 78.90 points or 0.34 per cent 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 Rs 1,849.87 crore on Thursday, according to exchange data.

Foreign investors have pulled out Rs 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 US dollar as well as Treasury yields.

With this sell-off, Foreign Portfolio Investors (FPIs) have recorded a total outflow of Rs 15,827 crore in 2024 so far.

Equity markets were closed on Friday for Guru Nanak Jayanti.

“Consolidation continued in the market; a slowdown in earnings growth and a weak rupee due to inflation impacted the sentiment. IT stocks reacted negatively today due 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.

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

European markets were trading in the negative territory. The US markets ended lower on Friday.

Global oil benchmark Brent crude climbed 0.49 per cent to USD 71.39 a barrel.

Stock Market Last Week

Benchmark Sensex declined by 110 points in a see-saw trade on Thursday, marking its third straight session of losses amid continued FII selling, disappointing quarterly results and soaring inflation.

Equity markets were closed on Friday for Guru Nanak Jayanti.

The 30-share Sensex dropped 110.64 points or 0.14 per cent to settle at 77,580.31 in a lacklustre trade. The index started on a positive note but lost momentum later due to increased selling. During the day, it dropped 266.14 points or 0.34 per cent to 77,424.81.

Broader NSE Nifty dropped by 26.35 points or 0.11 per cent to close at 23,532.70, extending its losing streak to the sixth day.

From the 30-share Sensex pack, Hindustan Unilever, NTPC, Nestle, IndusInd Bank, Power Grid, Adani Ports, Tata Motors and Bajaj Finserv were the major laggards.

Reliance Industries, Kotak Mahindra Bank, Tech Mahindra, Mahindra & Mahindra and HDFC Bank were among the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,502.58 crore on Wednesday, while Domestic Institutional Investors (DIIs) bought shares worth Rs 6,145.24 crore, according to exchange data.

Wholesale price inflation rose to a four-month high of 2.36 per cent in October as prices of food items, especially vegetables, and manufactured goods turned dearer, showed the government data released on Thursday.

Retail inflation breached the Reserve Bank’s upper tolerance level, soaring to a 14-month high of 6.21 per cent in October mainly on account of rising food prices.

The BSE smallcap gauge climbed 0.83 per cent and midcap index went up by 0.41 per cent.

Among sectoral indices, utilities declined 0.88 per cent, oil & gas (0.48 per cent), power (0.37 per cent), services (0.09 per cent), metal (0.07 per cent) and consumer durables (0.05 per cent).

Realty jumped 1.11 per cent, BSE consumer discretionary (0.81 per cent), telecommunication (0.64 per cent), auto (0.60 per cent) and commodities (0.33 per cent).

In Asian markets, Tokyo, Shanghai and Hong Kong settled lower while Seoul ended in the positive territory.

European markets were trading higher. The US markets ended on a mixed note on Wednesday.

Global oil benchmark Brent crude dipped 0.06 per cent to USD 72.24 a barrel.

Sensex tanked 984.23 points or 1.25 per cent to settle at 77,690.95 on Wednesday. Registering its fifth day of decline, the Nifty tumbled 324.40 points or 1.36 per cent to 23,559.05.

News business » markets Sensex Slips 241 Points, Nifty Closes Below 23,500, Check Top Details Here



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