Sensex tumbles over 500 points in opening trade; Nifty below 13,800

BSE Sensex was trading 523.14 points or 1.10% lower at 46,886.79; NSE Nifty fell 167.80 points or 1.2% to 13,799.70

January 28, 2021 11:22 am | Updated 11:22 am IST - Mumbai

A-42, MUM - 190908 - SEPTEMBER 19, 2007 - Mumbai: A view of the Bombay Stock Exchange building in Mumbai on Wednsday. The BSE benchmark index, Sensex crossed the 16000 mark on Wednesday. PTI Photo

A-42, MUM - 190908 - SEPTEMBER 19, 2007 - Mumbai: A view of the Bombay Stock Exchange building in Mumbai on Wednsday. The BSE benchmark index, Sensex crossed the 16000 mark on Wednesday. PTI Photo

Equity benchmark Sensex dropped over 520 points in early trade on January 28, tracking losses in index-heavyweight stocks like HDFC twins, TCS, Infosys and ICICI Bank amid weak trend in global markets.

The 30-share BSE index was trading 523.14 points or 1.10% lower at 46,886.79.

Similarly, the broader NSE Nifty fell 167.80 points or 1.2% to 13,799.70.

HDFC Bank was the top loser in the Sensex pack, shedding around 2.50%, followed by HDFC, HCL Tech, Tech Mahindra, Sun Pharma, PowerGrid, Kotak Bank, SBI, and Nestle India.

On the other hand, ONGC, NTPC, Reliance Industries and HUL were among the gainers.

In the previous session, the Sensex tumbled 937.66 points or 1.94% to settle at 47,409.93, while the NSE Nifty plunged 271.40 points or 1.91% to close the session at 13,967.50.

According to traders, recent foreign fund outflows from the domestic capital markets also had an impact on investor sentiment.

Foreign portfolio investors (FPIs) remained net sellers in the capital market as they offloaded shares worth ₹1,688.22 crore on a net basis on January 27, according to provisional exchange data.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading in the red in mid-session deals.

U.S. equities finished lower mainly due to lower earnings by tech giants and concerns over stretched valuation.

Meanwhile, the global oil benchmark, Brent crude futures, were trading 0.45% lower at $55.56 per barrel.

Top News Today

Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.