Stock Market Today: Sensex crashes 1,416 factors, Nifty ends close to 15,800-mark amid weak international cues

Stock Market Today, Share Market Updates: The benchmark fairness indices on the BSE and National Stock Exchange (NSE) crashed over 2.6 per cent on Thursday monitoring a fall within the international markets.

The S&P BSE Sensex crashed 1,416.30 factors (2.61 per cent) to finish at 52,792.23 whereas the Nifty 50 fell 430.90 factors (2.65 per cent) to settle at 15,809.40. Both the indices had opened over 1.8 per cent decrease earlier within the day and declined additional because the commerce progressed with the Sensex falling to an intraday low of 52,669.51 and the broader Nifty touched 15,775.20.

On the Sensex pack, 28 out of 30 shares ended within the purple. HCL Technologies, Wipro, Infosys, Tata Consultancy Services (TCS), Tech Mahindra, Tata Steel, IndusInd Bank, Kotak Mahindra Bank and Mahindra & Mahindra (M&M) had been the highest losers on Thursday. Only ITC and Dr. Reddy’s Laboratories ended within the inexperienced.

In the broader market, the S&P BSE MidCap index ended 602.43 factors (2.66 per cent) decrease at 22,069.73. Mphasis, MindTree, Info Edge (India), Nippon Life India Asset Management, Indraprastha Gas and Canara Bank had been the among the many prime laggards right here. Likewise, the S&P BSE SmallCap fell 603.74 factors (2.29 per cent) to settle at 25,801.04. On NSE, the volatility index or India VIX surged 10.14 per cent to 24.56.

All the sectoral indices on NSE ended with sharp cuts on Thursday. The Nifty IT index was the highest loser on Thursday, falling 5.74 per cent dragged by the shares of Mphasis, L&T Technology Services and Coforge. The NIfty Metal index too fell 4.08 per cent weighed by Vedanta, JSW Steel and Tata Steel. The key Bank Nifty declined 2.48 per cent led by a fall in Bandhan Bank, IndusInd Bank and IDFC First Bank.

“The recent earnings reported by the US retailers reflected the heat of high retail inflation, resulting in the rout in Wall Street. Persistent offloading by foreign investors along with mounting fears of an economic slowdown wreaked havoc in the domestic market. In this highly volatile market, investors can focus on sectors like FMCG, Pharma, Capital goods and manufacturing whose valuations are moderate and reasonable on a long term basis,” stated Vinod Nair, Head of Research at Geojit Financial Services.

Global market

Shares declined in Europe and Asia on Thursday after a broad retreat on Wall Street triggered by worries over the impression of persistent excessive inflation on company earnings and shopper spending. US futures had been decrease, whereas oil costs superior.

Germany’s DAX misplaced 2 per cent to 13,731.64 and the CAC 40 in Paris declined 1.9 per cent to six,234.78. Britain’s FTSE 100 shed 1.7 per cent to three,537.99. The future for the S&P 500 was 1 per cent decrease whereas the long run for the Dow Jones Industrial Average sank 0.9 per cent.

The Dow industrials sank greater than 1,100 factors, or 3.6 per cent on Wednesday, and the S&P 500 had its greatest drop in practically two years, shedding 4 per cent. That was its steepest decline since June 2020. The tech-heavy Nasdaq fell 4.7 per cent.

The Nikkei 225 in Tokyo misplaced 1.9 per cent to 26,402.84 and the Hang Seng in Hong Kong dropped 2.5 per cent to twenty,120.60. In South Korea, the Kospi shed 1.3 per cent to 2,592.34, whereas Australia’s S&P/ASX 200 gave up 1.7 per cent to 7,064.50. The Shanghai Composite index reversed earlier losses, gaining 0.4 per cent to three.096.96.

-global market enter from AP