Stock markets close lower for 2nd day amid foreign fund outflows

Benchmark Sensex falls 318 points owed to overseas money outflows and planetary marketplace trends. File | Photo Credit: ANI

Benchmark Sensex declined by 318 points connected Wednesday (October 16, 2024) owed to selling successful IT and car shares amid unabated overseas money outflows and anemic trends successful global markets.

Falling for the 2nd day, the BSE Sensex declined by 318.76 points oregon 0.39% to settee astatine 81,501.36. During the day, it slumped 461.86 points oregon 0.56% to 81,358.26.

The NSE Nifty declined by 86.05 points oregon 0.34% to adjacent astatine 24,971.30.

From the 30 Sensex firms, Mahindra & Mahindra, Infosys, Kotak Mahindra Bank, JSW Steel, Adani Ports, Tata Motors, Adani Ports, ITC and Titan were the large laggards.

HDFC Bank, Bharti Airtel, Reliance Industries, Asian Paints and State Bank of India were the gainers.

“The marketplace traded scope bound with a antagonistic bias owed to the fearfulness of a downgrade successful FY25 earnings, which could interaction the sustainability of premium valuation,” Vinod Nair, Head of Research, Geojit Financial Services said.

Foreign Institutional Investors (FIIs) offloaded equities worthy ₹1,748.71 crore connected Tuesday (October 15, 2024), according to speech data.

In Asian markets, Seoul, Tokyo and Hong Kong settled lower, portion Shanghai ended successful the affirmative territory.

European markets were trading successful the antagonistic territory. The U.S. markets ended little connected Tuesday (October 15, 2024).

Global lipid benchmark Brent crude climbed 0.08% to $74.32 a barrel.

On Tuesday (October 15, 2024), the BSE benchmark Sensex declined 152.93 points oregon 0.19% to settee astatine 81,820.12. The Nifty settled little by 70.60 points oregon 0.28% to 25,057.35.

Published - October 16, 2024 04:32 p.m. IST