Stock markets close lower on sharp fall in Kotak Bank, unabated foreign fund outflows

From the 30 Sensex firms, Kotak Mahindra Bank tanked much than 4% aft the company’s quarterly net failed to cheer investors. | Photo Credit: Reuters

Equity benchmark indices Sensex and Nifty gave up archetypal gains and ended little connected Monday (October 21, 2024) tracking a crisp autumn successful Kotak Mahindra Bank and relentless overseas money outflows.

The 30-share Sensex declined 73.48 points oregon 0.09% to settee astatine 81,151.27. The barometer changeable 545 points astatine the opening but succumbed to selling unit aboriginal and deed a debased of 80,811.23. The scale gyrated 958.79 points betwixt the day's precocious and the debased level. The NSE Nifty dipped 72.95 points oregon 0.29% to 24,781.10.

From the 30 Sensex firms, Kotak Mahindra Bank tanked much than 4% aft the company's quarterly net failed to cheer investors. Bajaj Finserv, IndusInd Bank, Adani Ports, UltraTech Cement, Bajaj Finance, Tata Consultancy Services, Infosys, Bharti Airtel, Hindustan Unilever and JSW Steel were the different large laggards.

HDFC Bank climbed astir 3% aft the steadfast connected Saturday (October 19, 2024) reported a 6% summation successful September 4th nett net to ₹17,825.91 crore connected a consolidated basis.

On a standalone basis, the largest backstage assemblage lender's post-tax nett grew to ₹16,820.97 crore during the reporting period, arsenic against ₹15,976.11 crore successful the year-ago period. Asian Paints, Mahindra & Mahindra, Reliance Industries, Maruti and Tech Mahindra were besides among the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worthy ₹5,485.70 crore connected Friday (October 18, 2024), according to speech data. However, Domestic Institutional Investors (DIIs) bought equities worthy ₹5,214.83 crore.

In Asian markets, Tokyo and Hong Kong settled little portion Seoul and Shanghai ended higher. European markets were trading lower. The U.S. markets ended higher connected Friday. Global lipid benchmark Brent crude climbed 1.04% to ₹73.82 a barrel.

Recovering from its aboriginal lows, the BSE benchmark climbed 218.14 points oregon 0.27% to settee astatine 81,224.75 connected Friday. The Nifty ended 104.20 points oregon 0.42% higher astatine 24,854.05.

Published - October 21, 2024 04:27 p.m. IST