Sensex, Nifty Fall By About 1% On Sluggish Global Cues; RIL, Infosys Weigh

The Sensex and Nifty lost over 1 percent on Thursday due to continued foreign capital outflows amid a broadly unfavorable trend in global markets.

Furthermore, dealers stated that substantial selling pressure in index majors Reliance Industries, Infosys, and ITC dampened the market mood.

The 30-share BSE Sensex dropped 610.37 points or 0.92 percent to 65,508.32. It fell 695.3 points or 1.05 percent, during the day to 65,423.39.

The Nifty slid 192.90 points or 0.98 percent to 19,523.55.

Asian Paints, Wipro, Kotak Mahindra Bank, Bajaj Finserv, Infosys, ITC, Mahindra & Mahindra, Hindustan Unilever, IndusInd Bank, Reliance Industries and JSW Steel were the Sensex pack’s worst losers, falling 4.59 percent.

Larsen & Toubro, Bharti Airtel, Power Grid, and Axis Bank, on the other hand, benefited.

In Asian markets, Shanghai closed higher, but Tokyo and Hong Kong fell. South Korean share market was closed for the holiday.

European markets were trading in the red.

On Wednesday, the US markets ended on a mixed note.

Brent crude sank 0.38 percent to USD 96.18 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) sold securities worth Rs 354.35 crore on Wednesday.

On Wednesday, the BSE benchmark advanced 173.22 points or 0.26 percent to 66,118.69. The Nifty went up 51.75 points or 0.26 percent to 19,716.45.

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