After a steep sell-off seen in the mornign deals, benchmarks — BSE Sensex and NSE Nifty50 — clocked a steady recovery during the day. The recovery, which was aided by strength in shares of Tata Motors, HDFC Bank, L&T, Sun Pharma, and Kotak Bank, came amid the monthly F&O expiry for the July series.
The BSE Sensex index ended at 80,040, down 109 points or 0.14 per cent, as it bounvced back from a low of 79,478. The Nifty50, too, closed the session at 24,40, down 7 points or 0.03 per cent. It hit an intraday low of 24,211.
Axis Bank (down 5.2 per cent) was the biggest laggard on the benchmark indices, followed by Nestle India, Titan, ICICI Bank, Tata Steel, IndusInd Bank, and ITC.
The broader markets, too, were volatile through the day, swinging between gains and losses. The BSE Midcap, and SmallCap indices, eventually, closed 0.2 per cent and 0.14 per cent lower, respectively.
Among sectors, the Nifty Metal index fell over 1 per cent, the Nifty Private Bank 0.9 per cent, and the Nifty Bank 0.83 per cent. On the contrary, the Nifty Auto index rallied over 1 per cent.
Global Cues
Markets in Asia-Pacific saw a major sell-off on Thursday, following heavy losses on Wall Street, where the S&P 500 and Nasdaq Composite recorded their steepest decline since 2022.
The broad market index S&P 500 fell by 2.31 per cent, while the tech-heavy Nasdaq bleeded 3.64 per cent. The Dow Jones Industrial Average also retreated, losing 1.25 per cent.
The sell-off on Wall Street was led by offloading of tech shares, with Nvidia and Meta Platforms seeing declines of 6.8 per cent and 5.6 per cent, respectively. Shares of Alphabet, Google’s parent company, fell by 5 per cent.
Meanwhile, Tesla shares also saw a major decline of 12.3 per cent, driven by weaker-than-expected earnings.
In Asia, apart from a major sell-off on Wall Street, investors are also assessing South Korea’s GDP numbers, which grew by 2.3 per cent than the expectation of 2.5 per cent by economists.
Japan’s Nikkei 225 fell by 2.72 per cent and the broader based Topix index slipped by 2.39 per cent.
South Korea’s Kospi index was down by 1.77 per cent, while the Kosdaq, which focuses on small-cap stocks, edged down by 2.41 per cent.
Australia’s S&P/ASX 200 was down 0.94 per cent. Hong Kong’s Hang Seng index, too, traded in red and slumped by 0.39 per cent.
Comments
0 comment