Titan, HDFC, HDFC Bank, Wipro, TCS, Reliance Industries Ltd and Power Grid were the major laggards.
Titan, HDFC, HDFC Bank, Wipro, TCS, Reliance Industries Ltd and Power Grid were the major laggards.
Equity benchmark Sensex tumbled over 575 points on Thursday, tracking heavy losses in index-heavyweights HDFC twins, TCS and Reliance Industries amid a weak trend in global markets.
The 30-share Sensex closed at 59,034.95, down 575.46 points or 0.97%, for the third consecutive day. During the day, it fell 633.06 points or 1.06% to 58,977.35.
The broader Nifty-50 also closed 168.10 points or 0.94% lower at 17,639.55.
From the 30-share pack, Titan, HDFC, HDFC Bank, Wipro, TCS, Reliance Industries Ltd and Power Grid were the major laggards.
In contrast, Axis Bank, Hindustan Unilever, ICICI Bank, M&M, and Dr Reddy’s were among the gainers.
In Asia, markets in Hong Kong, Seoul, Shanghai and Tokyo closed lower. Stocks in the United States also edged lower in the overnight session.
“The recent market weakness is partly due to bullish remarks from the US Fed,” said VK Vijayakumar, chief investment strategist at Geojit Financial Services.
International oil benchmark Brent crude jumped 0.93% to $102 a barrel.
Investors are waiting for the outcome of the RBI policy meeting, which will be announced on April 8.
Foreign institutional investors offloaded shares worth Rs 2,279.97 crore on Wednesday, according to exchange data.
According to Mitul Shah, Head of Research, Reliance Securities, “Domestic stocks closed lower following negative global cues. Investors continue to focus on the Fed’s potentially aggressive monetary policy stance keeping track of developments in the Russia-Ukraine war. ”