Sensex Plunges Over 600 Points, Nifty Trades Below 17,750; HDFC, HCL Tech, Eicher Motors Among Top Drags

The overall market breadth was weak as 849 shares were advancing while 1,693 were declining on BSE.

New Delhi: The Indian equity benchmarks slumped on Thursday halting a four-day winning streak amid a massive surge in Covid-19 cases. India has reported 90,928 new Covid cases in a day. Asian shares also fell extending a global plunge after Federal Reserve meeting minutes pointed to a faster-than-expected rise in U.S. interest rates due to concerns about persistent inflation. Worries over higher U.S. rates combined with growing concerns about the rapid spread of the Omicron coronavirus variant to weigh on riskier assets.

Back home, as of 9:18 am, the 30-share BSE Sensex pack was down 612 points or 1.02 per cent at 59,611 and the broader NSE Nifty moved 181 points or 1.01 per cent lower to 17,744.

Mid- and small-cap shares were in red as Nifty Midcap 100 index was down 0.89 per cent and small-cap shares were trading 0.88 per cent lower.

On the stock-specific front, HDFC was the top Nifty laggard as the stock dived 1.82 per cent to Rs 2,625.00. Eicher Motors, HCL Tech, Infosys, and Tech Mahindra were also among the losers.

On the flipside, Sun Pharma, Dr Reddy’s, Hindalco, Cipla and Bharti Airtel were among the gainers.

The overall market breadth was weak as 849 shares were advancing while 1,693 were declining on BSE.

On the 30-share BSE platform, HDFC twins (HDFC and HDFC Bank), HCL Tech, Infosys, Kotak Mahindra Bank and Tech Mahindra attracted the most losses with their shares falling as much as 1.89 per cent in early trade.

Airtel, Sun Pharma, Dr Reddy’s and Tata Steel were among the gainers.

The benchmark BSE Sensex had surged 367 points or 0.61 per cent to close at 60,223 on Wednesday, while the broader NSE Nifty had settled 120 points or 0.67 per cent higher at 17,805.



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