Stock Market Today: Sensex crashes 844 factors, Nifty settles under 17,000-mark on weak international cues

Market Today, Sensex, Nifty Share Prices Updates: The frontline indices on the BSE and National Stock Exchange (NSE) fell for the third consecutive session, ending almost 1.5 per cent decrease on Tuesday triggered by cross-sector selloff monitoring weak spot within the international market.

The S&P BSE Sensex crashed 843.79 factors (1.46 per cent) to finish at 57,147.32 whereas the Nifty 50 slumped 257.45 factors (1.49 per cent) to settle under the 17,000-level mark at 16,983.55. Both the indices had opened round 0.25 per cent decrease earlier within the day and traded in a spread through the morning session. However, they slumped within the late afternoon offers with the Sensex hitting an intraday low of 57,050.40 and the broader Nifty touching 16,950.30.

On the Sensex pack, IndusInd Bank, Nestle India, Tata Steel, Tech Mahindra, Infosys, Dr. Reddy’s Laboratories, Titan Company, Reliance Industries (RIL), Maruti Suzuki India, Hindustan Unilever (HUL), Wipro and HCL Technologies had been the highest losers on Tuesday, falling 2.00-3.70 per cent. Only Axis Bank and Asian Paints managed to finish round 1 per cent larger.

All the sectoral indices on NSE ended decrease on Tuesday. Nifty Realty cracked 3.07 per cent, Nifty Metal fell 2.20 per cent, Nifty Media slumped 2.02 per cent and Nifty IT declined 1.99 per cent.

In the broader market, the S&P BSE MidCap index fell 406.29 factors (1.61 per cent) to shut at 24,757.61 whereas the S&P BSE SmallCap slumped 425.18 factors (1.47 per cent) to finish at 28,589.23. On NSE, the volatility index or India VIX surged 4.42 per cent to twenty.49.

“India’s outperformance till date made a case for profit booking for the FIIs today as geopolitical and currency risks came to the forefront. Practically all sectoral indices ended in the red with the Nifty closing below 17,000 on a day when nothing was spared. The broader markets too saw a steep correction in several stocks which have been defying gravity and moving up since the past several weeks,” mentioned S Ranganathan, Head of Research at LKP Securities.

Commenting available on the market temper, Vinod Nair, Head of Research at Geojit Financial Services mentioned, “Investors are becoming risk-averse due to rising geopolitical turmoil as well as worries about the global economic slump. Investors’ caution ahead of the announcement of inflation data prevented a better-than-expected start to IT earnings from improving market mood. However, as compared to global counterparts, domestic selling is not as aggressive since FII selling is primarily absorbed by DIIs.”

Global Markets (from AP)

Asian and European shares had been largely decrease Tuesday as losses within the expertise sector weighed on international benchmarks.

France’s CAC 40 dipped 0.6 per cent to five,807.12. Germany’s DAX misplaced 0.7 per cent to 12,183.60. Britain’s FTSE 100 dropped 1.2 per cent to six,878.65. The future for the Dow industrials was down 0.7 per cent at 29,059.00. The contract for the S&P 500 misplaced 0.8 per cent to three,597.00.

Taiwan dropped 4.4 per cent after reopening from a vacation within the first buying and selling session because the US imposed new limits on exports of semiconductors and chip-making gear to China. TMSC, the world’s largest chipmaker, plunged 8.3 per cent.

Japan’s Nikkei 225 declined 2.6 per cent to 26,401.25. South Korea’s Kospi misplaced 1.8 per cent to 2,192.07. Both markets additionally had been reopening after holidays on Monday.

Hong Kong’s Hang Seng dropped 2.2 per cent to 16,830.73. The Shanghai Composite gained 0.2 per cent to 2,979.79, whereas Australia’s S&P/ASX 200 misplaced 0.3 per cent to six,645.00.