Sensex closed below 60,000, down 433 points
Equity benchmark Sensex tumbled 433 points on Thursday, tracking losses in major indices ICICI Bank, HDFC and SBI amid rising inflationary pressures and foreign fund outflows in the global market. The 30-share index closed at 59,919.69, down 433.13 points, or 0.72 per cent. Similarly, Nifty closed at 17,873.60, down 143.60 points or 0.80 per cent.
SBI was the top laggard in the Sensex pack, falling nearly 3 per cent, followed by Bajaj Finserv, Tech Mahindra, Sun Pharma, Bajaj Finance and Axis Bank. On the other hand, Titan, M&M, Reliance Industries and TCS were among the gainers.
“Indications from mixed Asian markets and higher-than-expected inflation data in the US raise concerns about higher interest rates in the world’s largest economy than ever before,” said stock market head Narendra Solanki. Research (Fundamental), Anand Rathi.
Besides, he said that frequent foreign fund outflows weakened the sentiments of traders. FIIs have sold shares worth Rs 5,515 crore so far this month.
Elsewhere in Asia, Shanghai, Hong Kong and Tokyo rebounded, while Seoul was in the red. Europe’s major indices were trading on a positive note in mid-session deals.
Meanwhile, international oil benchmark Brent crude rose 0.63 per cent to $83.16 per barrel.
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