Sensex sinks 770 pts, Nifty gives up 17,550 amid global sell-off; PSBs soar
CLOSING BELL: Reliance Industries tanked 3 per cent today, contributing nearly 30 per cent of the losses on the Sensex
 "Sensex sinks 770 pts, Nifty gives up 17,550 amid global sell-off; PSBs soar")
CLOSING BELL
Stock market highlights: Equities and commodities fell on Thursday as global growth concerns weighed on investor sentiment. Besides, a weaker-than-expected domestic Q1FY23 GDP (gross domestic product) data, along with marginal downtick in Manufacturing PMI for August, worried market participants.
The S&P BSE Sensex fell 1,014 points intra-day before closing at 58,766.5, down 770.5 points or 1.29 per cent. The Nifty50, too, hit a low of 17,468 before ending 216.5 points, or 1.22 per cent, lower at 17,543.
ALSO READ: Top factors behind Thursday's crash
Reliance Industries tanked 3 per cent today, contributing nearly 30 per cent of the losses on the Sensex. Other losers included TCS, Sun Pharma, Tech M, HUL, Infosys, NTPC, HDFC, Bajaj Finance, Tata Steel, Power Grid, and ICICI Bank. All these shares shedded over 1.5 per cent each.
The broader markets, however, remained relatively resilient. The S&P BSE MidCap and SmallCap indices settled 0.5 per cent higher each. Given this, the overall advance-decline ratio remained in the favour of buyers as 1,961 stocks advanced on the BSE as against 1,469 stocks that fell on the bourses.
Among sectors, the Nifty Realty index added 1 per cent, followed by the Nifty PSU Bank index (up 0.7 per cent). On the downside, the Nifty IT index declined 1.9 per cent, followed by the Nifty Pharma index (down 1.12 per cent).
ALSO READ: Are falling growth rates the next big worry for Indian equity markets?
Global cues
Stock market highlights: Equities and commodities fell on Thursday as global growth concerns weighed on investor sentiment. Besides, a weaker-than-expected domestic Q1FY23 GDP (gross domestic product) data, along with marginal downtick in Manufacturing PMI for August, worried market participants.
The S&P BSE Sensex fell 1,014 points intra-day before closing at 58,766.5, down 770.5 points or 1.29 per cent. The Nifty50, too, hit a low of 17,468 before ending 216.5 points, or 1.22 per cent, lower at 17,543.
ALSO READ: Top factors behind Thursday's crash
Reliance Industries tanked 3 per cent today, contributing nearly 30 per cent of the losses on the Sensex. Other losers included TCS, Sun Pharma, Tech M, HUL, Infosys, NTPC, HDFC, Bajaj Finance, Tata Steel, Power Grid, and ICICI Bank. All these shares shedded over 1.5 per cent each.
The broader markets, however, remained relatively resilient. The S&P BSE MidCap and SmallCap indices settled 0.5 per cent higher each. Given this, the overall advance-decline ratio remained in the favour of buyers as 1,961 stocks advanced on the BSE as against 1,469 stocks that fell on the bourses.
Among sectors, the Nifty Realty index added 1 per cent, followed by the Nifty PSU Bank index (up 0.7 per cent). On the downside, the Nifty IT index declined 1.9 per cent, followed by the Nifty Pharma index (down 1.12 per cent).
ALSO READ: Are falling growth rates the next big worry for Indian equity markets?
Global cues
European markets made a negative start to the new trading month as traders grapple with fears of higher interest rates and a looming economic downturn. The pan-European Stoxx 600 fell 1.7 per cent by mid-morning, while FTSE 100 slipped 1.46 per cent.
On Wall Street, futures linked to the main Wall Street indices were down between 0.6 per cent abnd 1.3 per cent, indicating a fifth straight day of declines.
In the commodities market, Brent crude futures eased 2 per cent to trade below $100 per barrel-mark amid fears of weak demand.
On Wall Street, futures linked to the main Wall Street indices were down between 0.6 per cent abnd 1.3 per cent, indicating a fifth straight day of declines.
In the commodities market, Brent crude futures eased 2 per cent to trade below $100 per barrel-mark amid fears of weak demand.
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Topics : Sensex Inflation MARKET LIVE MARKET WRAP stock market trading Nifty Market trends Indian market BSE NSE Indian markets Fed rate hikes Ashok Leyland Crude Oil Price FII flows DIIs
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First Published: Sep 01 2022 | 8:38 AM IST
