Stock Market BSE Sensex Dives 519 Points NSE Nifty Finishes Below 18,200 Tracking Weak Global Cues

Stock Market BSE Sensex Dives 519 Points NSE Nifty Finishes Below 18,200 Tracking Weak Global Cues

Sensex and Nifty, the two key equity benchmarks, on Monday ended in the red for third day running and ended nearly 1 per cent lower amid weak trend in global equities. Goldman Sachs Group Inc’s downward revision in its forecast for India’s economic growth next year dented sentiment.

The BSE Sensex declined 519 points (0.84 per cent) to settle at 61,145. During the day, it tumbled 604 points (0.97 per cent) to 61,059. On the other hand, the broader NSE Nifty fell 148 points (0.81 per cent) to end at 18,160.

On the 30-share Sensex platform, Reliance Industries, HDFC, Tata Consultancy Services, Tech Mahindra, Infosys, Bajaj Finance, Wipro, and Tata Steel were the major losers. On the flip side, Bharti Airtel, Axis Bank, IndusInd Bank, Hindustan Unilever, and Power Grid were among the winners.

In the broader market, the BSE MidCap fell just 0.15 per cent, while SmallCap indices added 0.01 per cent.

Sectorwise, the Nifty PSU Bank index rose 1.4 per cent, while all others shut shop in the negative zone. The Nifty IT and Realty indices slipped the most, down up to 1.5 per cent.

In the previous session on Friday, the BSE benchmark declined 87 points (0.14 per cent) to settle at 61,663. The Nifty dipped 36 points (0.20 per cent) to end at 18,307.

Elsewhere in Asia, markets in Seoul, Shanghai and Hong Kong ended lower, while Tokyo settled higher. Equity exchanges in Europe were trading in the negative territory in the afternoon trade. Wall Street had ended higher on Friday. The pan-European Stoxx 600 was down 0.1 per cent by mid-morning, with basic resources dropping 1.3 per cent to lead losses while health care stocks gained 0.5 per cent.

International oil benchmark Brent crude was trading 0.91 per cent lower at $86.82 per barrel.

Foreign Institutional Investors (FIIs) offloaded shares worth Rs 751.20 crore on Friday, as per exchange data.

Meanwhile, the rupee depreciated 7 paise to close at 81.81 (provisional) against the US dollar on Monday, tracking the strength of the American currency in the overseas markets and a muted trend in domestic equities.

At the interbank foreign exchange market, the local unit opened at 81.84 and later witnessed an intraday high of 81.74 and a low of 81.91 during the session.

The domestic unit finally settled at 81.81 against the American currency, registering a fall of 7 paise over its last close. On Friday, the rupee depreciated 10 paise to close at 81.74 against the US currency.

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