Advertisement
Thursday, Dec 01, 2022
Outlook.com
Outlook.com

Sensex Tumbles 300 Points, Nifty Ends Below 16,500

Tata Steel was the top loser in the Sensex pack, plunging over 8 per cent, followed by SBI, Dr Reddy’s, Kotak Bank, Sun Pharma, Bajaj Auto and L&T.

Sensex Tumbles 300 Points, Nifty Ends Below 16,500
The 30-share index ended 300.17 points or 0.54 per cent lower at 55,329.32, while the broader NSE Nifty declined 118.35 points or 0.71 per cent to 16,450.50. | Representational Image
Sensex Tumbles 300 Points, Nifty Ends Below 16,500
outlookindia.com
2021-08-20T16:10:27+05:30

Equity benchmark Sensex slumped 300 points on Friday, tracking losses in index majors Tata Steel, Reliance Industries and Kotak Bank amid a heavy sell-off in global equities.


The 30-share index ended 300.17 points or 0.54 per cent lower at 55,329.32, while the broader NSE Nifty declined 118.35 points or 0.71 per cent to 16,450.50.


Tata Steel was the top loser in the Sensex pack, plunging over 8 per cent, followed by SBI, Dr Reddy’s, Kotak Bank, Sun Pharma, Bajaj Auto and L&T.


On the other hand, HUL, Asian Paints, Nestle India and Bajaj Finance were among the gainers.


"Domestic equities witnessed high volatility with selling pressure across the counters. Notably, barring FMCG, most sectoral indices traded in red with Nifty metal witnessing steepest decline followed by realty, PSU banks, and pharma," said Binod Modi, Head - Strategy at Reliance Securities.


Rise in Delta variant cases in various parts of the world and increasing concern about sustainability of ongoing economic recovery globally led to heavy profit-booking in metal stocks, he added.


Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with heavy losses.


Equities in Europe were also trading in the red in mid-session deals.


Meanwhile, international oil benchmark Brent crude fell 0.59 per cent to USD 66.06 per barrel.

(PTI)

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