Sensex tanks over 400 points while Nifty drops below 18,150 in early trade

#BSE #CrudeOil #Nifty

Sensex was down 434.59 points or 0.71% at 60,800.71
Nifty fell 111.10 points or 0.61% to 18,146.70
Rupee slips 19 paise to 74.09 against the US dollar
Brent crude lost 0.15% to USD 84.34 a barrel

Written By:Yash

Updated: January 13 2022 07:40:19 PM ET

The Sensex fell more than 400 points in early trade on Friday, reflecting substantial selling pressure across counters amid a downward trend in global markets.

In early trade, the BSE index was down 434.59 points, or 0.71%, at 60,800.71. Similarly, the Nifty fell 111.10 points, or 0.61%, to 18,146.70.

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HCL Tech was the Sensex pack’s biggest loss, down 2.49%, followed by Asian Paints, HDFC, Axis Bank, Wipro, HUL, and Tech Mahindra. On the other hand, Reliance Industries, Maruti, Titan and Bajaj Finance were the only gainers in the pack.

The 30-share BSE Sensex closed 85.26 points, or 0.14% higher, at 61,235.30 in the previous session. Likewise, the NSE Nifty rose 45.45 points, or 0.25%, to 18,257.80.

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In other Asian markets, bourses in Shanghai, Hong Kong, Tokyo, and Seoul were trading with hefty losses in mid-session trades. In the overnight session, stock markets in the United States closed on a negative note.

Asian stocks dropped on Friday after a raft of Federal Reserve officials signalled they will combat inflation aggressively and the Nasdaq 100 fell to its lowest level since October, Deepak Jasani, Head of Retail Research, HDFC Securities, said.

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“US stocks closed down on Thursday, as a rebound in technology shares stalled out, snapping a three-day winning streak for the Nasdaq Composite,” he added.

According to stock exchange statistics, foreign institutional investors (FIIs) were net sellers in the capital market on Thursday, selling shares worth Rs 1,390.85 crore.

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Meanwhile, Brent crude, the international oil benchmark, lost 0.15% to USD 84.34 a barrel. In early trade, the rupee slips 19 paise to 74.09 against the US dollar.