File photograph of inventory dealer a share value on a display screen at a brokerage home.
| Photo Credit: Vivek Bendre
Equity benchmark index Sensex buckled beneath promoting strain for the second straight session to shut below the 65,000 mark on August 18, as buyers offloaded IT, teck and metal vitality stocks amid a bearish global trend.
Besides, contemporary international fund outflows additionally hit investor sentiments, merchants mentioned.
In a unstable commerce, the 30-share BSE Sensex declined 202.36 factors or 0.31% to settle at 64,948.66. During the day, it fell by 396.3 factors or 0.60% to 64,754.72.
The NSE Nifty dipped 55.10 factors or 0.28% to finish at 19,310.15.
“Concerns regarding inflation and shifts in investor preferences towards safer assets dampened overall market sentiment for domestic equities. Fears of a Fed rate hike, coupled with a decline in global equities, exerted additional downward pressure, specifically on IT stocks.
“Higher US bond yields and default threat in China are poised to immediate FIIs to undertake a extra prudent stance when contemplating investments in rising markets,” mentioned Vinod Nair, Head of Research at Geojit Financial Services.
Tata Consultancy Services was the most important laggard within the Sensex record, falling 2.14 per cent, adopted by Tech Mahindra, Mahindra & Mahindra, Infosys, Power Grid, Wipro, Bajaj Finserv and Bajaj Finance.
In distinction, Reliance Industries, Maruti, Nestle, Axis Bank, Hindustan Unilever and Tata Motors had been among the many gainers.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended within the unfavorable territory.
European markets had been buying and selling down. The U.S. markets ended decrease on Thursday.
Global oil benchmark Brent crude declined 0.46% to $83.73 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities price ₹1,510.86 crore on Thursday after a day’s breather, in accordance with trade knowledge.
The BSE benchmark had declined 388.40 factors or 0.59% to settle at 65,151.02 on Thursday. The Nifty slipped 99.75 factors or 0.51% to finish at 19,365.25.
