Market tumbles for fifth straight session; Sensex tanks 536 factors
1 min read Image Source : PTI Market tumbles for fifth straight session; Sensex tanks 536 factors
Extending its dropping streak to the fifth straight session, fairness benchmark Sensex plunged 536 factors on Thursday, monitoring losses in HDFC Bank, Infosys and HUL amid a weak development in world markets. The 30-share BSE index ended 535.57 factors or 1.13 per cent decrease at 46,874.36. Similarly, the broader NSE Nifty fell 149.95 factors or 1.07 per cent to 13,817.55.
HUL was the highest loser within the Sensex pack, shedding round 4 per cent, adopted by Maruti, HDFC Bank, PowerGrid, IndusInd Bank, HCL Tech and Bajaj Finserv.
On the opposite hand, Axis Bank, SBI, ONGC and ICICI Bank have been among the many gainers. “A continued pullback in domestic markets is mainly led by profit-booking ahead of union budget,” mentioned Binod Modi, Head-Strategy at Reliance Securities.
According to merchants, latest international fund outflows from the home capital markets additionally had an influence on investor sentiment.
Foreign portfolio buyers (FPIs) remained internet sellers within the capital market as they offloaded shares price Rs 1,688.22 crore on Wednesday, in keeping with provisional alternate knowledge.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo ended within the crimson. Stock exchanges in Europe have been additionally buying and selling with important losses in early offers.
Meanwhile, the worldwide oil benchmark Brent crude futures slipped 0.27 per cent to USD 55.39 per barrel.
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