Markets

Sensex tanks nearly 700 pts in early trade; Nifty dips below 17,600

Bombay Stock Exchange in Mumbai. File.

Bombay Stock Exchange in Mumbai. File.

Equity benchmark Sensex slumped nearly 700 points in opening trade on January 21, tracking intense selling pressure across the counters amid a negative trend in global markets and sustained foreign fund outflow.

The BSE gauge was trading 690.51 points or 1.16% lower at 58,774.11 in early trade. Likewise, the Nifty fell 194.10 points or 1.09% to 17,562.90.

Bajaj Finserv was the top loser in the Sensex pack, shedding 2.59%, followed by Infosys, Dr. Reddy’s, Tech Mahindra, Sun Pharma, Wipro and IndusInd Bank.

On the other hand, PowerGrid and HUL were the only gainers.

In the previous session, 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.

Elsewhere in Asia, bourses in Hong Kong, Seoul and Tokyo were trading with deep losses in mid-session deals.

Stock exchanges in the U.S. witnessed intense sell-off in the overnight session.

Meanwhile, international oil benchmark Brent crude declined 2.03% to USD 86.59 per barrel.

Foreign institutional investors (FIIs) were net sellers in the capital market, as they sold shares worth ₹4,679.84 crore on January 20, according to stock exchange data.


Our code of editorial values

This article is closed for comments.
Please Email the Editor

Printable version | May 24, 2022 11:17:36 am | https://www.thehindu.com/business/markets/sensex-tanks-nearly-700-pts-in-early-trade-nifty-dips-below-17600/article38301558.ece