Sensex, Nifty fall for 2nd day amid foreign fund exodus, muted corporate earnings

Bombay Stock Exchange (BSE) gathering successful Mumbai. File. | Photo Credit: Reuters

Stock markets closed little for the 2nd consecutive time connected Friday (November 8, 2024) amid relentless overseas money outflows and losses successful blue-chip stocks Reliance Industries, ICICI Bank and State Bank of India.

Benchmark BSE Sensex declined by 55.47 points oregon 0.07% to settee astatine 79,486.32. During the day, it tanked 424.42 points oregon 0.53% to 79,117.37.

The NSE Nifty dipped 51.15 points oregon 0.21% to 24,148.20.

From the 30-share Sensex pack, Asian Paints, Tata Steel, State Bank of India, Reliance Industries, NTPC, Tata Motors, ICICI Bank and IndusInd Bank were the biggest laggards.

Mahindra & Mahindra, Titan, Tech Mahindra, Infosys, Nestle and Hindustan Unilever were among the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worthy ₹4,888.77 crore connected Thursday, according to speech data.

"Consolidation continued successful the marketplace arsenic investors stayed cautious owed to disappointment successful net and the formation of FIIs. The US FED continued its rate-cutting rhythm to stimulate the economy," Vinod Nair, Head of Research, Geojit Financial Services, said.

In Asian markets, Seoul, Shanghai and Hong Kong settled little portion Tokyo ended successful the affirmative territory. European markets were trading lower. Wall Street ended mostly higher connected Thursday.

Global lipid benchmark Brent crude declined 1.28% to USD 74.66 a barrel.

The BSE benchmark tanked 836.34 points oregon 1.04% to settee astatine 79,541.79 connected Thursday. The Nifty dropped 284.70 points oregon 1.16% to decorativeness astatine 24,199.35.

Published - November 08, 2024 04:13 p.m. IST