MUMBAI: Benchmark Sensex declined by 359 factors whereas Nifty closed beneath the 21,400 stage on Thursday because of selling in IT shares and steady foreign fund outflows. The 30-share BSE Sensex fell by 359.64 factors or 0.51 per cent to settle at 70,700.67.
The index opened decrease and plunged additional 741.27 factors or 1.04 per cent to hit a low of 70,319.04 in day commerce. As many as 19 Sensex shares dropped whereas 11 superior.
The broader Nifty fell by 101.35 factors or 0.47 per cent to settle at 21,352.60 with 34 of its constituents closing in the pink.
An increase in US bond yields and combined monetary outcomes by corporates triggered FII selling, analysts mentioned. IT, pharma and FMCG shares declined whereas realty and vitality shares bucked the pattern.
Among Sensex shares, Tech Mahindra fell by over 6 per cent after the corporate reported a 60 per cent decline in internet revenue to Rs 510.4 crore in the December quarter.
Bharti Airtel, ITC, Asian Paints, HDFC Bank, Nestle, Tata Steel, and Maruti had been among the many different main laggards.
IT shares declined as third-quarter outcomes have didn’t impress traders. Wipro dropped 1.68 per cent, HCL Tech by 1.54 per cent, TCS by 1.03 per cent and Infosys by 0.22 per cent.
NTPC, ICICI Bank, IndusInd Bank, Reliance Industries, JSW Steel, Bajaj Finance, Bajaj Finserv and Mahindra & Mahindra had been among the many gainers.
“The benchmark indices closed on a negative note taking cues from the global market as the positive upside coming from the US economy delayed the optimism of a rate cut,” mentioned Vinod Nair, Head of Research, Geojit Financial Services.
“FIIs are in a selling mode as the yields on US benchmark bonds rise. The broader market is unable to hold gains as concerns of high valuations, sub-par results, and persisting geopolitical tension in the Middle East, followed by an F&O expiry, are weighing down the market,” Nair added.
In the broader market, the BSE midcap gauge declined 0.36 per cent whereas smallcap index climbed 0.54 per cent.
Among the indices, teck fell by 1.39 per cent, IT declined 1.23 per cent, telecommunication (1.21 per cent), FMCG (1.01 per cent) and bankex (0.58 per cent).
Utilities, energy, companies, commodities and realty had been the gainers.
Markets will stay closed on Friday for Republic Day.
On the weekly entrance, the BSE benchmark fell by 982.56 factors or 1.37 per cent, and the Nifty declined 269.8 factors or 1.24 per cent.
“The prevailing pressure in banking majors is largely weighing on the sentiments however selective buying in others is capping the damage so far,” Ajit Mishra, SVP – Technical Research, Religare Broking Ltd mentioned.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled in the constructive territory.
European markets had been buying and selling principally decrease. The US markets ended on a combined notice on Wednesday.
Foreign institutional traders (FIIs) offloaded equities value Rs 6,934.93 crore on Wednesday, in accordance with alternate knowledge.
Global oil benchmark Brent crude climbed 1.02 per cent to USD 80.96 a barrel.
The index opened decrease and plunged additional 741.27 factors or 1.04 per cent to hit a low of 70,319.04 in day commerce. As many as 19 Sensex shares dropped whereas 11 superior.
The broader Nifty fell by 101.35 factors or 0.47 per cent to settle at 21,352.60 with 34 of its constituents closing in the pink.
An increase in US bond yields and combined monetary outcomes by corporates triggered FII selling, analysts mentioned. IT, pharma and FMCG shares declined whereas realty and vitality shares bucked the pattern.
Among Sensex shares, Tech Mahindra fell by over 6 per cent after the corporate reported a 60 per cent decline in internet revenue to Rs 510.4 crore in the December quarter.
Bharti Airtel, ITC, Asian Paints, HDFC Bank, Nestle, Tata Steel, and Maruti had been among the many different main laggards.
IT shares declined as third-quarter outcomes have didn’t impress traders. Wipro dropped 1.68 per cent, HCL Tech by 1.54 per cent, TCS by 1.03 per cent and Infosys by 0.22 per cent.
NTPC, ICICI Bank, IndusInd Bank, Reliance Industries, JSW Steel, Bajaj Finance, Bajaj Finserv and Mahindra & Mahindra had been among the many gainers.
“The benchmark indices closed on a negative note taking cues from the global market as the positive upside coming from the US economy delayed the optimism of a rate cut,” mentioned Vinod Nair, Head of Research, Geojit Financial Services.
“FIIs are in a selling mode as the yields on US benchmark bonds rise. The broader market is unable to hold gains as concerns of high valuations, sub-par results, and persisting geopolitical tension in the Middle East, followed by an F&O expiry, are weighing down the market,” Nair added.
In the broader market, the BSE midcap gauge declined 0.36 per cent whereas smallcap index climbed 0.54 per cent.
Among the indices, teck fell by 1.39 per cent, IT declined 1.23 per cent, telecommunication (1.21 per cent), FMCG (1.01 per cent) and bankex (0.58 per cent).
Utilities, energy, companies, commodities and realty had been the gainers.
Markets will stay closed on Friday for Republic Day.
On the weekly entrance, the BSE benchmark fell by 982.56 factors or 1.37 per cent, and the Nifty declined 269.8 factors or 1.24 per cent.
“The prevailing pressure in banking majors is largely weighing on the sentiments however selective buying in others is capping the damage so far,” Ajit Mishra, SVP – Technical Research, Religare Broking Ltd mentioned.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled in the constructive territory.
European markets had been buying and selling principally decrease. The US markets ended on a combined notice on Wednesday.
Foreign institutional traders (FIIs) offloaded equities value Rs 6,934.93 crore on Wednesday, in accordance with alternate knowledge.
Global oil benchmark Brent crude climbed 1.02 per cent to USD 80.96 a barrel.
