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Sensex corrects 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 plunged by 599 points to fall below the 51,000 level on Thursday, amid a surge in US bond yields amid a slowdown in global stocks.

The intra-day, 30-share BSE index fell by 905 points to 598.57 points, or 1.16%, before ending the session 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, 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. The 10-year USA Treasury yield was up 6 bps. The increase disturbs investors today, “. Binod 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, investors bought equity worth 88 2,088.70 crore in Indian capital markets 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 exchange market front, the rupee depreciated 11 paise to close 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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