Sensex cracks 1159 pts Nifty slumps below 17900
Mumbai Oct 28 PTI Equity benchmark Sensex plunged 1159 points on Thursday following an across-the-board selloff as monthly derivatives expired amid a weak trend in global markets The 30-share index tanked 115863 points or 189 per cent to close at 5998470 Similarly the broader NSE Nifty plummeted 35370 points or 194 per cent to 1785725 ITC was the top loser in the Sensex pack tumbling over 5 per cent followed by ICICI Bank Kotak Bank Axis Bank SBI and HDFC Bank On the other hand IndusInd Bank LT UltraTech Cement and Asian Paints were among the gainers Domestic equities witnessed heavy selloff with high volatility mainly led by sharp correction in heavyweight financials and IT which wiped out around Rs 45 lakh crore from investors wealth said Binod Modi Head – Strategy at Reliance Securities All key sectoral indices fell sharply with Nifty PSU Bank falling over 4 per cent In addition to weak global cues unwinding of long positions especially in financials on FO expiry which had seen a sharp rally in recent period were the prime reasons for the sharp market correction he added Elsewhere in Asia bourses in Shanghai Hong Kong Seoul and Tokyo ended with losses Stock exchanges in Europe were also trading in the red in mid-session deals Meanwhile international oil benchmark Brent crude slipped 111 per cent to USD 8294 per barrel PTI ANS ABM ABM
Mumbai Oct 28 PTI Equity benchmark Sensex plunged 1159 points on Thursday following an across-the-board selloff as monthly derivatives expired amid a weak trend in global markets The 30-share index tanked 115863 points or 189 per cent to close at 5998470 Similarly the broader NSE Nifty plummeted 35370 points or 194 per cent to 1785725 ITC was the top loser in the Sensex pack tumbling over 5 per cent followed by ICICI Bank Kotak Bank Axis Bank SBI and HDFC Bank On the other hand IndusInd Bank LT UltraTech Cement and Asian Paints were among the gainers Domestic equities witnessed heavy selloff with high volatility mainly led by sharp correction in heavyweight financials and IT which wiped out around Rs 45 lakh crore from investors wealth said Binod Modi Head – Strategy at Reliance Securities All key sectoral indices fell sharply with Nifty PSU Bank falling over 4 per cent In addition to weak global cues unwinding of long positions especially in financials on FO expiry which had seen a sharp rally in recent period were the prime reasons for the sharp market correction he added Elsewhere in Asia bourses in Shanghai Hong Kong Seoul and Tokyo ended with losses Stock exchanges in Europe were also trading in the red in mid-session deals Meanwhile international oil benchmark Brent crude slipped 111 per cent to USD 8294 per barrel PTI ANS ABM ABM
