Sensex, Nifty tank on heavy foreign fund outflows

From the Sensex basket, Larsen & Toubro tanked over 5% after March quarter earnings.

Published - May 09, 2024 04:26 pm IST - Mumbai

The Bombay Stock Exchange (BSE) building, in Mumbai. File

The Bombay Stock Exchange (BSE) building, in Mumbai. File | Photo Credit: PTI

Benchmark equity indices Sensex and Nifty tumbled about 1.5% on May 09 amid heavy foreign fund outflows and selling in HDFC Bank, Larsen & Toubro and Reliance Industries.

Declining for the third day running, the 30-share BSE Sensex dropped 1,062.22 points or 1.45% to settle at 72,404.17. During the day, it tanked 1,132.21 points or 1.54% to 72,334.18.

The NSE Nifty dived 345 points or 1.55% to 21,957.50. During the day, it tumbled 370.1 points or 1.65% to 21,932.40.

From the Sensex basket, Larsen & Toubro tanked over 5% after March quarter earnings.

Asian Paints, JSW Steel, ITC, Bajaj Finance, IndusInd Bank, Tata Steel, NTPC, Bajaj Finserv, HDFC Bank, Reliance Industries and Power Grid were among the laggards.

In contrast, Tata Motors, Mahindra & Mahindra, State Bank of India, Infosys and HCL Tech were the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹6,669.10 crore on May 08, according to exchange data.

In Asian markets, Shanghai and Hong Kong settled with gains, while Seoul and Tokyo ended lower.

European markets were trading on a mixed note.

Wall Street closed mixed in overnight trade on Wednesday.

Global oil benchmark Brent crude climbed 0.48% to $83.89 a barrel.

The 30-share BSE Sensex declined 45.46 points or 0.06% to settle at 73,466.39 on May 08. The NSE Nifty remained unchanged at 22,302.50.

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