Market benchmark indices Sensex and Nifty fell on Thursday, extending their downward trend for a third consecutive day amid persistent foreign fund outflows. Intense selling in real estate, automotive, consumer discretionary, and consumer durable stocks also contributed to the decline.
The BSE Sensex dropped by 494.75 points, or 0.61 per cent, to close at 81,006.61. During the day, it dropped as much as 595.72 points, or 0.73 per cent, to reach 80,905.64. The NSE Nifty fell by 221.45 points, or 0.89 per cent, to settle at 24,749.85.
Of the 30 firms listed on the Sensex, Nestlé saw a decline of over 3 per cent after the FMCG giant reported a 0.94 per cent drop in net profit to ₹899.49 crore for the second quarter ending September 2024, as some of its key brands faced weaker consumer demand and high commodity prices.
Mahindra & Mahindra, UltraTech Cement, Bajaj Finserv, Titan, Maruti, Axis Bank and Tata Steel were among the other big laggards.
However, Tech Mahindra, Infosys, Power Grid, Larsen & Toubro and State Bank of India were among the biggest gainers.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,435.94 crore on Wednesday, according to exchange data.
In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong all ended lower. European markets were trading higher during mid-session, while US markets closed in positive territory on Wednesday.
Global oil benchmark Brent crude increased by 0.27 per cent to USD 74.42 a barrel.
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