The Sensex tumbled down nearly 556 points on Thursday, marking another day of losses for the Indian equity benchmarks amid relentless foreign fund outflows, global political tensions, and new US worker visa rules.
The 30-share BSE Sensex tanked 555.95 points or 0.68 per cent to settle at 81,159.68. During the day, it had dropped 622.74 points or 0.76 per cent to 81,092.89.
Meanwhile, the 50-share NSE Nifty tumbled 166.05 points or 0.66 per cent to fall below the 25,000-mark to settle at 24,890.85.
India’s stock markets mirrored weak trends in global peers, hitting investor sentiment, said analysts.
Among the Sensex pack, Trent, Power Grid, Tata Motors, Tata Consultancy Services, Asian Paints, NTPC, Adani Ports and Bajaj Finance were the laggards.
Also Read: Markets in red as foreign fund outflows persist
However, Bharat Electronics, Axis Bank and Bharti Airtel were the major gainers.
Hariprasad K, Research Analyst and Founder at Livelong Wealth, noted the bearish streak of Nifty, saying a host of global and domestic headwinds rattled investor confidence.
"The Nifty slipped below the psychological 25,000 mark today, deepening its bearish streak as a host of global and domestic headwinds rattled investor confidence. Persistent FII outflows, a record-weak rupee, and renewed worries over the US H-1B visa fee hike are all seen as a drag on Indian IT earnings and have all combined to sour sentiment," he observed.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,425.75 crore on Wednesday, according to exchange data.
In Asian markets, South Korea's Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled lower while Japan's Nikkei 225 index ended in positive territory.
Markets in Europe and the US markets were trading lower on Wednesday.
Global oil benchmark Brent crude declined 0.55 per cent to USD 68.93 a barrel.
The rupee rebounded from lifetime-low levels to close at 88.68 (provisional) against the US dollar, up by 7 paise over the previous close.
On Wednesday, the Sensex dropped 386.47 points or 0.47 per cent to end at 81,715.63. The Nifty declined 112.60 points or 0.45 per cent to 25,056.90.
Follow us
