Advertisement
Thursday, Sep 29, 2022
Outlook.com
Outlook.com

Sensex Tanks 400 Pts; HDFC Twins Drag

The 30-share BSE index ended 400.34 points or 0.77 per cent lower at 51,703.83, and the broader NSE Nifty tumbled 104.55 points or 0.68 per cent to 15,208.90.

Sensex Tanks 400 Pts; HDFC Twins Drag
| File Photo
Sensex Tanks 400 Pts; HDFC Twins Drag
outlookindia.com
2021-02-17T16:10:27+05:30

Equity benchmark Sensex slumped 400 points on Wednesday tracking losses in index majors HDFC twins, Kotak Bank and TCS amid a weak trend in global markets.

The 30-share BSE index ended 400.34 points or 0.77 per cent lower at 51,703.83, and the broader NSE Nifty tumbled 104.55 points or 0.68 per cent to 15,208.90.

Nestle India was the top loser in the Sensex pack, shedding around 3 per cent, followed by Bajaj Finserv, Asian Paints, IndusInd Bank, Maruti, HDFC twins and Dr Reddy’s.

On the other hand, SBI, PowerGrid, NTPC and Reliance Industries were among the gainers.

According to Binod Modi Head-Strategy at Reliance Securities, domestic equities witnessed pullback amid weak global cues.

“Profit-booking was visible in IT, Pharma and FMCG space, while PSU Banks continued to see investors’ interest with PSU Bank index rising briskly by over 6 per cent,” he said.

Rotational trading was seen, where a number of mid cap and small cap stocks witnessed sharp uptick as improving earnings visibility is attracting investors to this space especially in sectors which are considered to be beneficiary of higher capex, he added.

Elsewhere in Asia, bourses in Hong Kong ended on a positive note, while those in Tokyo and Seoul were in the red.

Stock exchanges in Europe were also trading with losses in mid-session deals.

Meanwhile, the global oil benchmark Brent crude was trading 0.58 per cent higher at USD 63.71 per barrel.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.

Advertisement