Share Market Today: Sensex Plunges 400 Points, Nifty Below 22,600

Share Market News: Indian stock markets began trading with losses on Thursday, as both the BSE Sensex and NSE Nifty opened lower. The benchmark Sensex and Nifty indices were anticipated to start trading in the red, as per GIFT Nifty trends projecting a decline of 90 points for the broader index.

At 10 am, the Sensex dropped by 344.40 points or 0.46 per cent to 74,158.50, while the Nifty decreased by 113.60 points or 0.50 per cent to 22,591.10. Among the traded stocks, 1253 shares advanced, 1849 shares declined, and 708 shares remained unchanged.

In the previous trading session on Wednesday, the two primary equity benchmarks concluded lower for the fourth consecutive day as investors engaged in profit-booking ahead of the Lok Sabha poll results. The S&P BSE Sensex plummeted by 668 points, closing at 74,503. Conversely, the NSE Nifty50 finished at 22,705, down by 183 points.

Stock update

On the 30-share Sensex platform, Axis Bank, Kotak Bank, SBI, ICICI Bank, and IndusInd Bank were among the top gainers, while Tata Steel, JSW Steel, Power Grid, Nestle, and Titan were among the top losers.

Rupee Movement

The Indian rupee started trading on Thursday on a lower note. The rupee opened eight paise lower against the US dollar compared to its previous closing rate of 83.34, standing at 83.42 per dollar. 

Global Markets

Asia-Pacific markets continued their downturn on Thursday, echoing the decline seen on Wall Street, with investors eagerly awaiting crucial economic data from the region set to be released on Friday. The Gift Nifty signals a negative start to the market.

In the US overnight, all three primary indexes experienced declines as the 10-year Treasury note yield rose for a second consecutive day, surpassing 4.6 per cent. The Dow Jones fell by 1.06 per cent, the S&P 500 decreased by 0.74 per cent, and the Nasdaq Composite slipped by 0.58 per cent, although Nvidia's gains helped alleviate losses for the technology-heavy index. European shares also dropped on Wednesday, with the STOXX 600 index falling by 1.1 per cent to reach a three-week low.