MUMBAI: Equity benchmark Sensex tumbled 336.46 points on Thursday following losses in index heavyweights Reliance Industries, Infosys and TCS amid a negative trend in global markets.
The 30-share index of BSE closed at 60,923.50, down 336.46 points or 0.55 per cent. Similarly, NSE Nifty It fell 88.50 points, or 0.48 percent, to 18,178.10.
Asian Paints was the top loser in the Sensex pack, falling nearly 5 per cent, followed by Reliance Industries, Infosys, Tata Steel, TCS and Dr Reddy’s.
On the other hand, Kotak Bank, HDFC, ICICI Bank and NTPC were among the gainers.
According to VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, domestic headwinds such as higher valuations have become volatile and rising commodity inflation will impact margins of firms.
“Continued sales by institutions – both DII and FII – indicate that Smart Money considers the market to be overheated and overvalued,” he added.
Elsewhere in Asia, shares in Hong Kong, Seoul and Tokyo ended in the red, while Shanghai was positive.
Stock exchanges in Europe were trading on a negative note in mid-session deals.
Meanwhile, international oil benchmark Brent crude fell 1.12 per cent to $84.86 per barrel.
The 30-share index of BSE closed at 60,923.50, down 336.46 points or 0.55 per cent. Similarly, NSE Nifty It fell 88.50 points, or 0.48 percent, to 18,178.10.
Asian Paints was the top loser in the Sensex pack, falling nearly 5 per cent, followed by Reliance Industries, Infosys, Tata Steel, TCS and Dr Reddy’s.
On the other hand, Kotak Bank, HDFC, ICICI Bank and NTPC were among the gainers.
According to VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, domestic headwinds such as higher valuations have become volatile and rising commodity inflation will impact margins of firms.
“Continued sales by institutions – both DII and FII – indicate that Smart Money considers the market to be overheated and overvalued,” he added.
Elsewhere in Asia, shares in Hong Kong, Seoul and Tokyo ended in the red, while Shanghai was positive.
Stock exchanges in Europe were trading on a negative note in mid-session deals.
Meanwhile, international oil benchmark Brent crude fell 1.12 per cent to $84.86 per barrel.
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