Sensex drops 336 pts Nifty ends below 18200
Mumbai Oct 21 PTI Equity benchmark Sensex tumbled 33646 points on Thursday following losses in index heavyweights Reliance Industries Infosys and TCS amid a negative trend in global markets The 30-share BSE index declined 33646 points or 055 per cent to 6092350 Similarly the NSE Nifty fell 8850 points or 048 per cent to 1817810 Asian Paints was the top loser in the Sensex pack tanking around 5 per cent followed by Reliance Industries Infosys Tata Steel TCS and Dr Reddys On the other hand Kotak Bank HDFC ICICI Bank and NTPC were among the gainers According to V K Vijayakumar Chief Investment Strategist at Geojit Financial Services domestic headwinds like high valuations have become unsustainable and rising commodity inflation will impact the margins of firms Sustained selling by institutions — both DIIs and FIIs — indicates that smart money regards the market as overheated and overvalued he noted Elsewhere in Asia bourses in Hong Kong Seoul and Tokyo ended in the in the red while Shanghai was positive Stock exchanges in Europe were trading on a negative note in mid-session deals Meanwhile international oil benchmark Brent crude fell 112 per cent to USD 8486 per barrel PTI ANS ABM ABM
Mumbai Oct 21 PTI Equity benchmark Sensex tumbled 33646 points on Thursday following losses in index heavyweights Reliance Industries Infosys and TCS amid a negative trend in global markets The 30-share BSE index declined 33646 points or 055 per cent to 6092350 Similarly the NSE Nifty fell 8850 points or 048 per cent to 1817810 Asian Paints was the top loser in the Sensex pack tanking around 5 per cent followed by Reliance Industries Infosys Tata Steel TCS and Dr Reddys On the other hand Kotak Bank HDFC ICICI Bank and NTPC were among the gainers According to V K Vijayakumar Chief Investment Strategist at Geojit Financial Services domestic headwinds like high valuations have become unsustainable and rising commodity inflation will impact the margins of firms Sustained selling by institutions — both DIIs and FIIs — indicates that smart money regards the market as overheated and overvalued he noted Elsewhere in Asia bourses in Hong Kong Seoul and Tokyo ended in the in the red while Shanghai was positive Stock exchanges in Europe were trading on a negative note in mid-session deals Meanwhile international oil benchmark Brent crude fell 112 per cent to USD 8486 per barrel PTI ANS ABM ABM
