Markets

Sensex sinks 634 points to end below 60,000-mark

The Bombay Stock Exchange (BSE) in Mumbai. File

The Bombay Stock Exchange (BSE) in Mumbai. File

Falling for the third straight session, equity benchmark Sensex tumbled 634 points on Thursday to close below 60,000-mark, tracking losses in index majors Infosys, TCS and RIL amid a fresh sell-off in European markets.

The continued flight of foreign capital from Indian markets also affected the market sentiment, traders said.

The 30-share BSE index ended 634.20 points or 1.06% lower at 59,464.62. Similarly, the NSE Nifty plunged 181.40 points or 1.01% to 17,757.00.

Bajaj Finserv was the top loser in the Sensex pack, shedding 4.57%, followed by Infosys, TCS, Sun Pharma, HCL Tech, HUL, Dr Reddy’s, HDFC and Reliance Industries.

On the other hand, PowerGrid, Bharti Airtel, Asian Paints, Maruti and ICICI Bank were among the gainers.

Meanwhile, Asian Paints’ consolidated net profit fell 18.5% to ₹1,031.29 crore for the third quarter ended December 2021.

In other Asian markets, bourses in Hong Kong, Seoul and Tokyo ended with gains, while Shanghai closed in the red.

Stock exchanges in Europe were witnessing intense selling pressure in mid-session deals.

International oil benchmark Brent crude declined 1% to $87.56 per barrel.

Foreign institutional investors (FIIs) were net sellers in the capital market, as they sold shares worth ₹2,704.77 crore on Wednesday, according to stock exchange data.


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Printable version | May 17, 2022 2:44:58 am | https://www.thehindu.com/business/markets/sensex-sinks-634-points-to-end-below-60000-mark/article38297089.ece