Stock Market Updates Today: Equity benchmark index Sensex tumbled 1,053 factors to shut under the 71,000 stage on Tuesday, dragged down by index heavyweights HDFC Bank, Reliance Industries and SBI amid combined international cues.
Concerns over subdued quarterly efficiency by corporates triggered promoting stress in a lot of the counters, in accordance with merchants.
After opening with positive factors of practically 450 factors, the 30-share BSE Sensex fell 1,053.10 factors or 1.47 per cent to settle at 70,370.55.
The index hit the bottom intraday stage of 70,234.55. It additionally touched an intraday excessive of 72,039.20.
Broader Nifty additionally declined 330.15 factors or 1.53 per cent to shut at 21,241.65.
Among the Sensex companies, IndusInd Bank was the largest loser and fell 6.13 per cent, adopted by SBI (3.99 computer), Hindustan Unilever (3.82 computer), Axis Bank (3.41 computer) and HDFC Bank (3.23 computer).
In distinction, Sun Pharma, Bharti Airtel, ICICI Bank and PowerGrid defied the pattern and closed with positive factors of as much as 3.67 per cent. TCS and Bajaj Finserve have been the opposite gainers.
A complete of 24 shares of the 30-share index closed with losses.
Equity benchmark indices opened with a constructive observe on Tuesday led by strong shopping for in healthcare and IT sector shares.
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On Saturday, the 30-share BSE Sensex fell 259.58 factors or 0.36 per cent to settle at 71,423.65. The Nifty declined 50.60 factors or 0.23 per cent to shut at 21,571.80.
Global oil benchmark Brent crude slipped 0.03 per cent to USD 80.04 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities price Rs 545.58 crore on Saturday, in accordance with change information.
Trends To Dominate Markets This Week
Quarterly earnings, international traits and buying and selling exercise of international traders will drive inventory markets on this vacation-shortened week.
Equity markets would additionally stay closed on Friday for Republic Day.
“Anticipations surrounding the upcoming budget may drive stock and sector-specific movements. Globally, attention will be directed towards Japan’s monetary policy and the US economic data, with a continued watch on geopolitical developments,” Santosh Meena, Head of Research, Swastika Investmart Ltd, mentioned.
The previous week witnessed continued volatility out there, characterised by Nifty and Sensex ending with a considerable decline of over 1 per cent, exacerbated by Bank Nifty’s notable underperformance, primarily attributed to a big drop in HDFC Bank’s shares submit earnings, Meena mentioned.
The aggressive promoting by Foreign Institutional Investors (FIIs) following HDFC Bank’s outcomes added additional stress to the general market, he added.
Trading sample of worldwide oil benchmark Brent crude and rupee-greenback traits would additionally affect buying and selling within the markets.
