Sensex down 150 points, Nifty dips 51.10 points on weak global markets

IndusInd Bank, Hindustan Unilever, Axis Bank, Bajaj Finserv, Wipro, HCL Technologies, Titan, Kotak Mahindra Bank and Bajaj Finance were the major laggards among Sensex shares.

Published: 29th June 2022 04:36 PM  |   Last Updated: 29th June 2022 04:36 PM   |  A+A-

BSE, Sensex, NSE

File photo | Debdutta Mitra, EPS

By PTI

MUMBAI: Cutting short its four-day gaining streak, benchmark Sensex declined by over 150 points on Wednesday due to profit booking in IT, FMCG and banking shares following weak global trends and persistent foreign capital outflows.

In a volatile session, the 30-share BSE Sensex settled 150.48 points or 0.28 per cent lower at 53,026.97 as 20 of its stocks ended with losses. During the day, it tumbled 564.77 points or 1.06 per cent to 52,612.68 ahead of the expiry in the derivatives segment on Thursday.

The NSE Nifty declined 51.10 points or 0.32 per cent to 15,799.10 with 34 of its constituents closing in the red.

IndusInd Bank, Hindustan Unilever, Axis Bank, Bajaj Finserv, Wipro, HCL Technologies, Titan, Kotak Mahindra Bank and Bajaj Finance were the major laggards among Sensex shares.

However, gains in NTPC, Reliance Industries, Sun Pharma, UltraTech Cement and ITC restricted a major fall in the barometer.

"Markets traded volatile for yet another session and lost nearly half a per cent. Weak global cues were weighing on the sentiment in early trade which triggered a gap-down start however buying in select index majors trimmed the losses as the day progressed," Ajit Mishra, VP - Research, Religare Broking Ltd said.

Elsewhere in Asia, markets in Tokyo, Shanghai, Seoul and Hong Kong ended lower. European markets were also trading lower in mid-session deals. The US markets also ended lower on Tuesday.

"Consumer confidence is declining rapidly due to the uncontrolled & constant rise in inflation. India had to bear the double-whammy effect of a dampening global equity market and rising crude prices as major suppliers like Saudi are unable to boost the output in the short term. However, the domestic market was able to recover most of the losses due to the strong movement of index heavyweights, PSUs, metals and oil & gas stocks before slipping some gains by the end of the day due to the volatile global market," said Vinod Nair, Head of Research at Geojit Financial Services.

Meanwhile, international oil benchmark Brent crude gained 0.31 per cent to USD 118.3 per barrel. Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 1,244.44 crore on Tuesday, as per exchange data.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp