Business

HDFC & IT Shares, Along With Weak Global Trends, Drive Sensex Down 535 Points

On Wednesday, stock markets fell for the second day in a row, with benchmark Sensex falling 535 points owing to selling in HDFC Bank and IT equities amid weak global trends.

The 30-share BSE Sensex dropped 535.88 points or 0.75 percent to 71,356.60. It sank 588.51 points or 0.81 percent to 71,303.97 during the day.

The National Stock Exchange slid 148.45 points or 0.69 percent to 21,517.35.

JSW Steel, Tata Steel, Tech Mahindra, Infosys, Wipro, Tata Consultancy Services, Nestle, HCL Technologies, HDFC Bank, and Maruti were the top laggards on the Sensex.

Among the winners were IndusInd Bank, ITC, Bharti Airtel, and State Bank of India.

In Asian markets, Seoul and Hong Kong finished lower while Shanghai finished higher.

European stocks were falling.

On Tuesday, the US markets finished mainly lower.

Despite low inflation, India’s manufacturing sector growth slowed to an 18-month low in December, according to a monthly survey released on Wednesday.

Brent crude lost 0.55 percent to USD 75.47 a barrel.

According to the exchange data, Foreign Institutional Investors (FIIs) bought securities worth Rs 1,602.16 crore on Tuesday.

On Tuesday, the Sensex slid 379.46 points or 0.53 percent to 71,892.48. The Nifty slipped 76.10 points or 0.35 percent to 21,665.80.

Also read: 3 More Nepalis Perish While Defending Russia Against Ukraine

Spriha Rai

Recent Posts

PM Modi’s Gifts: A Glimpse Of India’s Cultural Heritage In Global Diplomacy

These gifts to world leaders reflect the diverse traditions, arts, and crafts of India, emphasizing…

1 hour ago

Dr Rajeshwar Singh Calls For Bold Goals To Make India A Global Power By 2047

Dr Singh stressed the importance of reaching a GDP of $15 trillion by 2047 to…

2 hours ago

Gautam Adani Faces Indictment In US: Legal Expert Vijay Aggarwal Dismisses Immediate Repercussions

Criminal lawyer Vijay Aggarwal weighed in on the charges against Adani. He believes the indictment…

2 hours ago

Adani Group Stocks Recover As Sensex nd Nifty Post Gains

After a major sell-off earlier in the week, Adani Group stocks, led by Ambuja Cements…

3 hours ago

Sensex Soars 1,961 Points, Nifty Gains 557 In Broad-Based Market Rally

A sharp rally in financial stocks and encouraging US labor market data fueled the uptrend.…

3 hours ago

PM Modi Engages In 31 Bilateral Meetings During Three-Nation Tour

PM Narendra Modi held 31 bilateral meetings and discussions during his visit to Nigeria, Brazil,…

4 hours ago