Sensex plummets 704 points on sell-off at end of fagot; Skillful ends below 17,000


Markets tumbled at the close of trade on Tuesday, with the Sensex closing 703.59 points lower as weakness in HDFC twins and Infosys further weighed on sentiment.

Concerns about rising inflation and outflows of foreign funds amid geopolitical uncertainty also weighed on investor confidence.

In a highly volatile trade, the Sensex ended 703.59 points or 1.23% lower at 56,463.15 as the sell off surfaced. In choppy trading, the benchmark hit a high of 57,464.08 and a low of 56,009.07 on the day.

The NSE Nifty fell 215 points or 1.25% to settle at 16,958.65.

Both indices closed in the red for the fifth time in a row.

Of Sensex’s 30 stocks, HDFC, HDFC Bank, Infosys, ITC, Tech Mahindra, and HCL Technologies were among the top laggards.

In contrast, Reliance Industries, ICICI Bank, State Bank of India and Bajaj Finance were the winners.

In Asia, markets in Shanghai and Hong Kong fell while Seoul and Tokyo rose.

Markets in Europe also traded lower in the afternoon session.

Stocks in the United States ended marginally lower on Monday.

International oil benchmark Brent crude fell 1.39% to $111.6 a barrel.

Overseas institutional investors continued their selling spree, selling a net £6,387.45 billion worth of shares on Monday, according to stock market data.

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