Sensex tumbles 599 pts in line with the global meltdown

Must Read

Snapping its three-session winning run, the BSE Sensex plunged by around 599 points to crack below the key 51,000-level on Thursday amid a meltdown in global shares triggered by a surge in US bond yields.

Intra-day, the 30-share BSE index fell as much as 905 points before ending the session at 50,846.08, showing a decline of 598.57 points or 1.16 percent.

The broader NSE Nifty too closed with a loss of 164.85 points or 1.08 percent at 15,080.75.

On the Sensex chart, HDFC, L&T, SBI, Axis Bank, Bajaj FinServ and HDFC Bank were major laggards dropping up to 2.62 per cent. Of 30 Sensex shares, 25 closed with losses.

“Domestic equities traded lower today mainly on weak global cues Financials and Metals indices were keg drags today, while FMCG, Pharma, and IT indices were resilient. A sharp 6 bps rise in 10-Year USA treasury yield made investors jittery today, said Binod Modi, Head – Strategy at Reliance Securities.

Over the previous three sessions, the Sensex had risen by 2,344.66 points or 4.77 percent, while the Nifty had added 716.45 points or 4.93 percent.

Foreign investors had bought equities worth Rs 2,088.70 crore on a net basis in Indian capital markets on Wednesday, according to exchange data.

On Thursday, Asian shares too tumbled after an overnight surge in bond yields dragged Wall Street lower.

On the forex market front, the rupee ended 11 paise lower at 72.83 against the US dollar.

Meanwhile, global crude oil benchmark Brent was trading 1.16 per cent higher at USD 64.73 per barrel.

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

- Advertisement -
- Advertisement -

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

Latest

- Advertisement -

Related

- Advertisement -
- Advertisement -