Sensex, Nifty decline on unabated foreign fund outflows, selling in IT stocks

An illuminated presumption of the BSE gathering up of the Diwali festival, successful Mumbai connected Tuesday. | Photo Credit: ANI

Benchmark equity indices Sensex and Nifty fell for the 2nd time connected Thursday dragged down by losses successful IT stocks and relentless overseas money outflows.

Falling for the 2nd time successful a row, the BSE Sensex tumbled 553.12 points oregon 0.69% to settee astatine 79,389.06. During the day, it slumped 654.25 points oregon 0.81% to 79,287.93.

The NSE Nifty fell by 135.50 points oregon 0.56% to 24,205.35.

From the 30-share Sensex pack, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Asian Paints, Infosys and Maruti Suzuki were the biggest laggards.

In contrast, Larsen & Toubro jumped implicit 6% aft the infrastructure large posted a 5% emergence successful consolidated nett aft taxation to ₹3,395 crore successful the September 2024 4th connected relationship of higher income.

Mahindra & Mahindra, Power Grid, JSW Steel, Kotak Mahindra Bank, HDFC Bank and Sun Pharma were besides among the gainers.

Foreign Institutional Investors (FIIs) were nett sellers successful the superior markets connected Wednesday, arsenic they offloaded shares worthy ₹4,613.65 crore, according to speech data.

In Asian markets, Seoul, Tokyo and Hong Kong settled little portion Shanghai ended successful the green.

European markets were trading successful the red. The U.S. markets ended successful antagonistic territory connected Wednesday.

"Markets traded nether unit connected monthly expiry day, slipping implicit fractional a per cent. Early weakness successful IT majors weighed connected sentiment, with different sectors joining the diminution aboriginal successful the session. However, resilience successful prime heavyweight stocks helped bounds the wide losses," Ajit Mishra – SVP, Research, Religare Broking Ltd, said.

Global lipid benchmark Brent crude climbed 0.36% to $72.81 a barrel.

The BSE benchmark tumbled 426.85 points oregon 0.53% to settee astatine 79,942.18 connected Wednesday. The Nifty dropped 126 points oregon 0.51% to 24,340.85.

Published - October 31, 2024 04:35 p.m. IST