Titan, HDFC, HDFC Bank, Wipro, TCS, Reliance Industries Limited and Power Grid were the biggest laggards
Titan, HDFC, HDFC Bank, Wipro, TCS, Reliance Industries Limited and Power Grid were the biggest laggards
Stock benchmark Sensex tumbled over 575 points on Thursday, posting heavy losses in index heavyweights HDFC Twins, TCS and Reliance Industries amid a weak trend in global markets.
The 30-period Sensex declined for the third straight day, falling 575.46 points, or 0.97%, to settle at 59,034.95. On the day, it fell 633.06 points, or 1.06%, to 58,977.35.
The broader Nifty-50 was also down 168.10 points, or 0.94%, to close at 17,639.55.
From the 30-stock block, the biggest laggards were Titan, HDFC, HDFC Bank, Wipro, TCS, Reliance Industries Limited and Power Grid.
In contrast, Axis Bank, Hindustan Unilever, ICICI Bank, M&M and Dr. Reddy’s among the winners.
In Asia, markets in Hong Kong, Seoul, Shanghai and Tokyo fell. Stocks in the United States also closed lower in the overnight session.
“The recent market weakness is partly due to increasingly hawkish comments from the US Federal Reserve,” said VK Vijayakumar, chief investment strategist at Geojit Financial Services.
International oil benchmark Brent rose 0.93% to $102 a barrel.
Investors are awaiting clues from the outcome of the RBI policy meeting to be announced on April 8th.
Overseas institutional investors sold shares worth ₹2,279.97 crore on Wednesday, stock market data showed.
“Domestic stocks closed lower after following negative global cues. Investors remain focused on the Fed’s possible aggressive monetary stance as they follow developments in the Russia-Ukraine war,” said Mitul Shah, Head of Research at Reliance Securities.
