Sensex Today: Sharp selling gripped Indian benchmark indices on Monday, after the US Treasury yield crossed above the 5% mark. The selloff, which engulfed, other global peers too, deepened amid the ongoing war between Israel and Hamas.
Today’s bloodshed on Dalal Street wiped off Rs 7.77 lakh crore of investor wealth, with the BSE market cap sliding to Rs 311.12 lakh crore. BSE Sensex closed 826 points lower at 64,572 while NSE Nifty lost 264 points to 19,278.
The benchmarks were dragged by LTIMindtree, Adani Enterprises, Hindalco, UPL, Adani Ports, JSW Steel, Tata Steel, TCS, Tata Motors, HDFC Life, IndusInd Bank, Wipro, Grasim, SBI Life, Hero MotoCorp, SBI, and L&T as they declined in the range of 2 per cent to 4 per cent.
The broad-based losses were led by PSU banks, metals, real estate, and IT stocks. Their respective indices, thus, fell 3.89 per cent, 3.3 per cent, 3.14 per cent, and 2 per cent on the National Stock Exchange (NSE).
Individually, Central Bank of India, Bank of India, Bank of Maharashtra, Indian Overseas Bank, Uco Bank, Hindustan Copper, Welspun Corporation, NMDC, Mahindra Lifespace, DLF, Macrotech Developers, LTIMIndtree, TCS, Wipro, Mphasis, and LTTS crashed between 2 per cent and nearly 10 per cent.
In the broader markets, the sell-off was sharper with the BSE MidCap and SmallCap indices dropping 2.5 per cent and 4.18 per cent, respectively.
Global Cues
Stocks staged a broad retreat after the 10-year Treasury yield topped 5%, fueling concern that soaring borrowing costs will erode economic growth. The yield on the 10 year jumped nine basis points to 5.01%, the highest since 2007. Europe’s Stoxx 600 index sank 0.8%, reaching the lowest intraday level since March. S&P 500 equity futures fell 0.6%.
Even as oil prices slipped on Monday, they continued to remain above $90 mark. Brent crude futures fell 24 cents, or 0.26%, to $91.92 a barrel. US West Texas Intermediate crude futures were down 36 cents, or 0.41%, at $87.72 a barrel.
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