Share Market Ends In Bloodbath, Sensex Plunges Over 1,000 Points, Nifty Falls 1.3 Per Cent
This decline was further weighed down by a sell-off across the board as investors remained cautious ahead of the upcoming interest rate decision of the US Federal Reserve
The key equity benchmarks closed the trading session on Tuesday in red and plunged more than 1 per cent. The BSE Sensex plummeted more than 1,000 points to end trading at 80,684.45, while the NSE Nifty50 settled for the day under 24,350, registering a hit of more than 300 points.
This decline was further weighed down by a sell-off across the board as investors remained cautious ahead of the upcoming interest rate decision of the US Federal Reserve.
The 30-share Sensex platform saw a bloodbath as all the company stocks ended trading in red. The major laggards in the list included Bharti Airtel, IndusInd Bank, JSW Steel, TCS, and Asian Paints.
The broader markets also closed the session in red entirely. The Nifty Next 50 and Nifty 100 indices dominated with a loss of 1.32 per cent and 1.29 per cent respectively.
Sector-wise, the Nifty Media index remained the only exception in green and ended 0.02 per cent higher. On the other hand, the PSU Bank and Metal indices declined 1.82 per cent and 1.63 per cent respectively.
In the last trading session on Monday, the key benchmark indices settled trading in red. The Sensex closed trading at 81,748.57, plunging nearly 400 points, while the Nifty50 settled for the day at 24,688.25, taking a hit of 100 points.
"Widespread pessimism prevails across all sectors ahead of key policy decisions from the US Fed, BoJ (Bank of Japan), and BoE (Bank of England). While the market has already factored in a 25 bps cut from the US Fed, it remains vigilant for any hawkish signals. The BoJ and BoE are largely expected to maintain their current rates for the year.Concurrently, the rupee has depreciated to an all-time low, and a record-high trade deficit is exacerbating the pressure," noted Vinod Nair, Head of Research, Geojit Financial Services.
Foreign Institutional Investors (FIIs) dumped equities worth Rs 278.70 crore on Monday, exchange data revealed. The global oil benchmark Brent crude slipped 0.50 per cent to touch $73.58 per barrel.
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