Sensex Down Over 200 Points, Nifty Trades Below 18,100 Amid Weak Global Trends

Among major Sensex losers, Infosys dropped by 1.7 per cent, Wipro by 1.41 per cent, Tech Mahindra by 1.07 per cent, TCS by 0.77 per cent, and HCL Tech by 1.09 per cent, in line with a global fall in technology stocks

Midcap and smallcap shares were weak as Nifty Midcap 100 index plunged 0.76 per cent and small-cap shares were trading 0.58 per cent lower. Image: Getty

New Delhi: Key equity benchmark indices extended their opening loss in the early morning trade on Wednesday.

The BSE Sensex declined mainly due to losses in IT and banking shares amid weak global trends.

The 30-share platform fell by 230 points to 60,525 in opening trade, while the broader NSE Nifty declined by 57 points to 18,055 as 38 of its constituents were trading in the red.

Koo App

At 10.30 a.m., Sensex traded at 60,368 points, down 0.6 per cent from the previous close of 60,75 points. It opened at 60,845 points. #Nifty50 traded at 18,013 points, down 0.6 per cent from the previous close of 18,113 points. It opened at 18,129 points.

View attached media content

- IANS (@IANS) 19 Jan 2022

Among major Sensex losers, Infosys dropped by 1.7 per cent, Wipro by 1.41 per cent, Tech Mahindra by 1.07 per cent, TCS by 0.77 per cent and, HCL Tech by 1.09 per cent, in line with a global fall in technology stocks.

Among banking stocks, IndusInd Bank declined by 1.33 per cent, while HDFC twins fell up to 0.8 per cent.

On the other hand, auto stocks Maruti Suzuki and M&M rose by more than 1 per cent. Bajaj Finance rose by 3.34 per cent and Bajaj Finserve by more than 1 per cent.

Tata Steel, Reliance Industries, Power Grid and Titan also advanced, limiting the losses in the key index.

Midcap and smallcap shares were weak as Nifty Midcap 100 index plunged 0.76 per cent and small-cap shares were trading 0.58 per cent lower.

Foreign investors remained net sellers in the Indian equity markets as they offloaded stocks worth Rs 1,254.95 crore on Tuesday, according to stock exchange data.

Asian markets were trading lower after a broad sell-off on Wall Street on Tuesday as bond yields surged amid renewed fears that the US Federal Reserve will act more aggressively than expected to tackle rising inflation.

The S&P 500 dropped by 1.8 per cent, Dow Jones fell 1.5 per cent and the Nasdaq plunged by 2.6 per cent, due to deep losses in technology stocks.

Experts said increased expectations of a rate hike by the US Fed have kept Treasury yields rising. The 10-year Treasury hit 1.87 per cent on Tuesday, the highest since January 2020.