Closing Bell: Sensex crashes 1,158 points, Nifty closes at 15,808
- Sensex declined 1,158 points or 2.14% to close at 52,930.31
- Nifty plunged 359.10 points or 2.22% to end at 15,808
- The rupee settled 19 paise lower at 77.42 per US dollar
Indian benchmark indices sank for the fifth consecutive session on Thursday, with the Sensex and Nifty plunging over 2% each, following extremely weak global trends and selling in index heavyweights HDFC twins, Reliance Industries and ICICI Bank.
Continuous selling by foreign institutional investors also weighed on traders’ sentiments. In addition, investors remained cautious ahead of the announcement of the inflation rate for April and industrial production data for March.
The BSE Sensex declined 1,158 points or 2.14% to close below the 53,000-mark at 52,930.31. During the day, it tumbled 1,386.09 points or 2.56% to 52,702.30.
The NSE Nifty plunged 359.10 points or 2.22% to end at 15,808.
All the sectoral indices closed in the red with capital goods, auto, bank, metal, oil & gas, power, FMCG, pharma, and realty indices down 1-4%.
Also Read | Who is new Air India CEO Campbell Wilson?
Among broader indices, the BSE midcap and smallcap indices fell 2% each.
"Undoubtedly, the biggest negative catalyst continues to be inflation all over global economies. The anxiety at stock markets across the globe is on the backdrop of Federal Reserve’s next strategy on interest rates...," said Prashanth Tapse, Vice President (Research), Mehta Equities.
Major laggards from the Sensex pack were IndusInd Bank down by 5.82%, Tata Steel down by 4.13%, Bajaj Finance down by 3.76%, Bajaj Finserv down by 3.53%, HDFC Bank down by 3.34%, Axis Bank down by 3.44%, HDFC down by 3.17%, Titan down by 3.14%, NTPC down by 2.65% and State Bank of India down by 2.93
The only gainers were Wipro up by 0.91% and HCL Technologies up by 10%.
The rupee settled 19 paise lower at 77.42 per US dollar on Thursday compared with Wednesday’s close of 77.23.
European equity markets were trading with sharp cuts in the afternoon session.
US stock exchanges had settled lower on Wednesday.
Brent crude, the international oil benchmark, declined 2.02% to USD 105.7 per barrel.
According to stock exchange data, foreign institutional investors offloaded shares worth Rs 3,609.35 crore on Wednesday.