Nifty closed at 15,809.40, down 430.90 points.
Nifty closed at 15,809.40, down 430.90 points.
Reflecting a sell-off in global markets, equity benchmarks fell sharply on Thursday, with Sensex and Nifty falling over 2.60%.
The sentiment is also weakening due to continuous outflow of foreign funds.
The 30-share benchmark Sensex of the BSE closed at 52,792.23, down 1,416.30 points, or 2.61%. It closed 1,539.02 points or 2.83% lower at 52,669.51 during the day.
The broader NSE Nifty ended 430.90 points or 2.65% lower at 15,809.40.
HCL Technologies, Wipro, Infosys, TCS, Tech Mahindra, Tata Steel, IndusInd Bank and Kotak Mahindra Bank were the major laggards among Sensex firms.
ITC and Dr. Reddy’s emerged as profits.
Barring Shanghai, Seoul, Hong Kong and Tokyo ended in the red with losses in other Asian markets.
Equity exchanges in Europe were also trading lower in the afternoon session.
The US stock markets closed in the red on Wednesday.
Mohit Nigam, PMS Head, Hem Securities, said, “The US markets witnessed the worst sell-off since June 2020 due to inflationary scare.”
Meanwhile, international oil benchmark Brent crude fell 1.29% to $107.7 a barrel.
Foreign institutional investors sold shares worth a net ₹1,254.64 crore on Wednesday, according to stock exchange data.
“Worsening macro sentiments such as rising inflation, fears of a recession, and the possibility of an even sharper Federal Reserve move will continue to keep benchmarks on edge.
Prashant Taapsee, vice-president (research), Mehta Equities Ltd. said, “Another main reason for the pessimism can be attributed to the continued selling from the FII camp.”
Devarsh Vakil, deputy head of research, HDFC Securities, said, “Indian markets fell over 2.5% on the day of weekly derivatives expiry due to weak global cues.”