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Sensex closes 599 points with global recession

The broader NSE Nifty also ended with a loss of 164.85 points or 1.08% at 15,080.75.

Demolishing its three-season winning run, the BSE Sensex fell below the 51,000 level on Thursday with a major 5,000-point decline amid a downturn in global stocks from a surge in US bond yields.

The intra-day, 30-share BSE index fell by 905 points to 598.57 points, or 1.16%, before ending at 50,846.08.

The broader NSE Nifty also ended with a loss of 164.85 points or 1.08% at 15,080.75.

On the SENSEX chart, HDFC, L&T, SBI, Axis Bank, Bajaj Finserv and HDFC Bank were the leading laggards – falling by 2.62%. Of the 30 Sensex stocks, 25 ended with losses.

“Domestic equities today are trading lower on mainly weak global cues … Financial and metals indices were keg drugs today, while FMCG, pharma and IT indices were resilient. 10-year USA Treasury yield increased by 6 bps Has troubled investors today, ” Modi, Head – Strategy at Reliance Securities.

The Sensex had gained 2,344.66 points or 4.77% in the previous three sessions, while the Nifty had gained 716.45 points or 4.93%.

According to exchange data, foreign investors bought equity worth 88 2,088.70 crore in the Indian capital market on a net basis on Wednesday.

On Thursday, Asian stocks also worsened after an overnight increase in bond yields and depleted Wall Street.

On the foreign exchange market front, the rupee closed 11 paise lower at 72.83 against the US dollar.

Meanwhile, global crude oil benchmark Brent was trading up 1.16% at $ 64.73 a barrel.

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