NEW DELHI: Equity benchmark indices start flat on Indian bourses on Thursday amid weak global cue
in early morning trade. Sensex was trading at 72,394.97, after climbing 90 points whereas Nifty was at 21,945.30.
Sensex witnessed significant decline of more than 1% on Wednesday. Nifty also dropped below 22,000 level. This downward trend was primarily led by selling in Reliance Industries and bank stocks, as global market trends remained weak.
Sensex fell by 790.34 points or 1.08% to settle at 72,304.88, with 26 of its stocks ending in red and four in green. Nifty plunged by 247.20 points or 1.11% to settle at 21,951.15, with 46 shares declining and only four registered gains.
Among Sensex, Power Grid was the biggest loser, falling by 4.43% due to profit booking by investors. Reliance Industries dropped around 2%. Other major losers included IndusInd Bank, Maruti, Wipro, Tata Steel, JSW Steel, Asian Paints, Mahindra & Mahindra, and UltraTech Cement.
Hindustan Unilever, Infosys, Tata Consultancy Services, and Bharti Airtel were gainers on Wednesday.
Vinod Nair, Head of Research at Geojit Financial Services said that Indian markets mirrored the weakness in global markets. Investors are anxiously awaiting key economic data from the US, such as personal consumption expenditure, and there is concern that a delay in the Federal Reserve’s rate cut may occur if the forecasts are positive. The turmoil in China’s property sector has also had an impact on the Asian market trend.
Vodafone Idea witnessed a sharp decline of around 14% after its fundraising announcement failed to lift investors’ sentiment. Shares of One97 Communications Ltd, owner of the Paytm brand, also fell by 5%.
In the Asian markets, Seoul settled with gains, while Tokyo, Shanghai, and Hong Kong ended lower. European markets were mostly trading lower, while the US markets ended mostly higher on Tuesday.
in early morning trade. Sensex was trading at 72,394.97, after climbing 90 points whereas Nifty was at 21,945.30.
Sensex witnessed significant decline of more than 1% on Wednesday. Nifty also dropped below 22,000 level. This downward trend was primarily led by selling in Reliance Industries and bank stocks, as global market trends remained weak.
Sensex fell by 790.34 points or 1.08% to settle at 72,304.88, with 26 of its stocks ending in red and four in green. Nifty plunged by 247.20 points or 1.11% to settle at 21,951.15, with 46 shares declining and only four registered gains.
Among Sensex, Power Grid was the biggest loser, falling by 4.43% due to profit booking by investors. Reliance Industries dropped around 2%. Other major losers included IndusInd Bank, Maruti, Wipro, Tata Steel, JSW Steel, Asian Paints, Mahindra & Mahindra, and UltraTech Cement.
Hindustan Unilever, Infosys, Tata Consultancy Services, and Bharti Airtel were gainers on Wednesday.
Vinod Nair, Head of Research at Geojit Financial Services said that Indian markets mirrored the weakness in global markets. Investors are anxiously awaiting key economic data from the US, such as personal consumption expenditure, and there is concern that a delay in the Federal Reserve’s rate cut may occur if the forecasts are positive. The turmoil in China’s property sector has also had an impact on the Asian market trend.
Vodafone Idea witnessed a sharp decline of around 14% after its fundraising announcement failed to lift investors’ sentiment. Shares of One97 Communications Ltd, owner of the Paytm brand, also fell by 5%.
In the Asian markets, Seoul settled with gains, while Tokyo, Shanghai, and Hong Kong ended lower. European markets were mostly trading lower, while the US markets ended mostly higher on Tuesday.
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