Markets tumble in late sell-off Infosys RIL top drags
Mumbai Nov 24 PTI Equity benchmarks resumed their decline on Wednesday after a days gap succumbing to a last-hour sell-off triggered by losses mainly in market heavyweights Reliance Infosys and HDFC After trading in the green for most part of the session the 30-share BSE Sensex settled 32334 points or 055 per cent lower at 5834099 — marking its fifth decline in the last six days Likewise the NSE Nifty fell 8830 points or 05 per cent to end at 1741505 On the Sensex chart Maruti Infosys Tech Mahindra ITC Reliance Industries LT UltraTech Cement and HDFC were the major losers dropping as much as 262 per cent On the other hand Kotak Bank NTPC ICICI Bank Bajaj Finance PowerGrid and HCL Tech were among the gainers climbing up to 145 per cent Of the Sensex constituents 22 shares ended in the red Unable to hold onto its gains domestic indices edged lower in todays tumultuous session amid mixed sentiments across global peers Despite surging inflation the Euro-zone business activity jumped to 558 in November from 542 in October instilling hope in investors On the domestic front gains in banking and financial stocks were offset by losses in oil gas and auto sectors The banking sector was in the radar today as the government proposed to privatise two banks along with making banking amendments for the winter session to facilitate PSB privatisation said Vinod Nair Head of Research at Geojit Financial Services Sectorally BSE IT index fell 124 per cent followed by auto capital goods FMCG and energy Oil and gas banking and finance closed with gains In the broader market BSE midcap and largecap indices suffered losses but the smallcap index ended higher Elsewhere in Asia stock markets closed with moderate to deep losses tracking a rise in US bond yields and volatility in global crude oil prices in the wake of price-cooling efforts by the US and other countries Markets in Europe too were trading with losses in the afternoon session The rupee recovered its initial losses and settled 2 paisa up at 7440 against the US dollar on Wednesday ahead of the release of the minutes of the latest Federal Reserve meeting Offloading of shares by foreign institutional investors continued on Tuesday as they sold shares worth Rs 447706 crore on a net basis as per exchange data PTI MKJ ABM MKJ ABM ABM
Mumbai Nov 24 PTI Equity benchmarks resumed their decline on Wednesday after a days gap succumbing to a last-hour sell-off triggered by losses mainly in market heavyweights Reliance Infosys and HDFC After trading in the green for most part of the session the 30-share BSE Sensex settled 32334 points or 055 per cent lower at 5834099 — marking its fifth decline in the last six days Likewise the NSE Nifty fell 8830 points or 05 per cent to end at 1741505 On the Sensex chart Maruti Infosys Tech Mahindra ITC Reliance Industries LT UltraTech Cement and HDFC were the major losers dropping as much as 262 per cent On the other hand Kotak Bank NTPC ICICI Bank Bajaj Finance PowerGrid and HCL Tech were among the gainers climbing up to 145 per cent Of the Sensex constituents 22 shares ended in the red Unable to hold onto its gains domestic indices edged lower in todays tumultuous session amid mixed sentiments across global peers Despite surging inflation the Euro-zone business activity jumped to 558 in November from 542 in October instilling hope in investors On the domestic front gains in banking and financial stocks were offset by losses in oil gas and auto sectors The banking sector was in the radar today as the government proposed to privatise two banks along with making banking amendments for the winter session to facilitate PSB privatisation said Vinod Nair Head of Research at Geojit Financial Services Sectorally BSE IT index fell 124 per cent followed by auto capital goods FMCG and energy Oil and gas banking and finance closed with gains In the broader market BSE midcap and largecap indices suffered losses but the smallcap index ended higher Elsewhere in Asia stock markets closed with moderate to deep losses tracking a rise in US bond yields and volatility in global crude oil prices in the wake of price-cooling efforts by the US and other countries Markets in Europe too were trading with losses in the afternoon session The rupee recovered its initial losses and settled 2 paisa up at 7440 against the US dollar on Wednesday ahead of the release of the minutes of the latest Federal Reserve meeting Offloading of shares by foreign institutional investors continued on Tuesday as they sold shares worth Rs 447706 crore on a net basis as per exchange data PTI MKJ ABM MKJ ABM ABM
