Axis Bank, Power Grid, Wipro, State Bank of India, Maruti, Titan and NTPC were among the biggest laggards from the Sensex pack
Axis Bank, Power Grid, Wipro, State Bank of India, Maruti, Titan and NTPC were among the biggest laggards from the Sensex pack
Benchmark stock indexes Sensex and Nifty gave up early gains to close over 0.8% on sell-offs at Axis Bank, Reliance Industries and Infosys.
The 30-stock BSE benchmark plunged 460.19 points, or 0.80%, to end at 57,060.87 despite a firm open. During the day it hit a high of 57,975.48 and a low of 56,902.30.
The NSE Nifty lost 142.50 points or 0.83% to 17,102.55. Axis Bank, Power Grid, Wipro, State Bank of India, Maruti, Titan and NTPC were among the biggest laggards from the Sensex pack.
Shares in Axis Bank fell 6.57% in a day after the company reported a 49.77% rise in its consolidated net income for the March quarter.
Kotak Mahindra Bank, HDFC Bank, Sun Pharma, Tata Steel and Dr. Reddy’s, on the other hand, were among the winners.
Asian markets in Hong Kong, Shanghai and Seoul posted strong gains. Markets in Europe were also trading in the green during the afternoon session.
Stocks in the US closed with significant gains on Thursday. The BSE benchmark was up 701.67 points, or 1.23%, to 57,521.06 on Thursday. The Nifty rose 206.65 points, or 1.21%, to 17,245.05.
Meanwhile, international oil benchmark Brent rose 1.91% to $109.65 a barrel.
Overseas institutional investors turned net buyers after their steady selling spree over the past few days, buying ₹743.22 crore of shares, according to stock market data on Thursday.
