Leaving for the fourth straight session, the equity benchmark Sensex on Wednesday plunged 562.34 points after losses in the index Major Reliance Industries, HDFC Bank and ICICI Bank in global markets ahead of the US Federal Reserve’s policy results Was in the midst of a weak stance.
After a volatile session, the 30-share BSE index closed at 49,801.62 with 562.34 points or 1.12%. The broader NSE Nifty lost 189.15 points or 1.27% to end at 14,721.30.
The ONGC Sensex pack saw the top 5% fall, including NTPC, Sun Pharma, SBI, IndusInd Bank, Bajaj Auto, PowerGrid and Reliance Industries.
ITC, Infosys, TCS and HDFC, on the other hand, were among the beneficiaries.
Binod Modi, Head-Strategy, Reliance Securities, said that domestic equities fell for the fourth consecutive day due to the recent increase in COVID-19 cases in various parts of the country and concerns over high inflation.
Additionally, he said that domestic equities were sold off due to weak cues from global markets ahead of the results of the US Federal Reserve meeting. The two-day meeting began on Tuesday.
Selling pressure was seen in all major sectoral indices, with PSU banks, metals and auto indices under increasing pressure.
Elsewhere in Asia, nutrition ended on a negative note in Shanghai, Tokyo and Seoul, while Hong Kong was in positive territory.
Stock exchanges in Europe were largely traded in mid-session deals.
Meanwhile, global oil benchmark Brent crude was trading 0.89% down at US $ 67.78 a barrel.
.
Add Comment