Business

Stock Markets Continue To Tumble For Sixth Day In A Row Due To Negative Global Trends And Foreign Fund Outflows

In early trade on Thursday, equity benchmark indices fell, maintaining their lackluster pace amid a bearish trend in global markets and fresh foreign investment outflows.

The BSE Sensex dropped 502.5 points to 63,546.56. The Nifty index dropped 159.55 points to 18,962.60.

Among the Sensex companies, Tech Mahindra fell roughly 3% after reporting a 61% drop in consolidated net profit to Rs 505.3 crore for the July-September period, owing to lower client expenditure.

Other major laggards were Mahindra & Mahindra, Bajaj Finserv, Bajaj Finance, JSW Steel, Tata Motors, Nestle, and Titan.

Axis Bank was the sole gainer, reporting a 10% increase in the September 2023 quarter net profit to Rs 5,864 crore due to higher interest revenue.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong are all trading down.

On Wednesday, the US markets finished in the red.

Brent crude fell 0.29 percent to USD 89.87 a barrel.

According to exchange data, foreign institutional investors (FIIs) sold securities worth Rs 4,236.60 crore on Wednesday.

Also read: China And Russia Oppose US Calls For UN Action On Israel-Hamas Conflict

Spriha Rai

Recent Posts

Kisan Credit Card Scheme A Lifeline For Indian Farmers: FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Saturday described the Kisan Credit Card (KCC) scheme as a…

14 mins ago

Trump Administration Shuts Down Controversial ‘Quiet Skies’ Surveillance Program

The Trump administration has officially shut down the ‘Quiet Skies’ passenger surveillance program, a covert…

47 mins ago

PM Modi Likely To Visit Bengal For Twin Programmes On June 20

Prime Minister Narendra Modi is likely to visit West Bengal later this month for two…

48 mins ago

Elon Musk Hints At Launching ‘The America Party’ As Political Rift With Trump Widens

Elon Musk has sparked speculation about founding a new political outfit named 'The America Party'…

1 hour ago

Trump Set to Sell His Tesla Car As Clash With Elon Musk Escalates

US President Trump is reportedly planning to sell his Tesla car, purchased in March to…

1 hour ago

Musk-Trump Fallout Threatens NASA And Pentagon Operations: Report

A recent fued between Elon Musk and former US President Donald Trump has raised serious…

2 hours ago