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Share Market Today: Sensex Sheds 885 Points; Nifty Gives Up 25K Amid Profit Booking, Weak Cues

Share Market Today: On the 30-share Sensex platform, Maruti was top loser, falling 4.6 per cent. Tata Motors, JSW Steel, Tata Steel, L&T, M&M were the other losers

Share market today: The two key equity benchmarks, Sensex and Nifty, on Friday plunged into the negative territory as investors chose profit-booking amid weak global trends. The BSE Sensex tanked 885 points to 80,982. On the other hand, NSE Nifty50 gave up the 25,000 levels to end at 24,717, declining 293 points.

Stock update

On the 30-share Sensex platform, Maruti was top loser, falling 4.6 per cent. Tata Motors, JSW Steel, Tata Steel, L&T, M&M were the other losers. On the flip side, HDFC Bank, Sun Pharma, Kotak Bank, Nestle, and Asian Paints emerged gainers.

India VIX, which measures near-term volatility, surged over 10 per cent to settle at 14.32.

The broader markets settled in the red, with the Midcap shares being the worst hit.

ALSO READ | Share Market Today: Sensex Tanks 800 Points; Nifty Tests 24750. Key Reasons Why Indices Nosedived

Sectoral update

Sectorally, apart from Nifty Pharma index, all were settled in the red. Nifty IT, Nifty Metal, and Nifty Auto indices were the worst hit, dropping over 2 per cent each.

In the previous session on Thursday, the Sensex settled with gains of 126 points to 81,867, while the NSE Nifty50 ended 10 points above the 25,000 levels at 25,010.

Global update

The European markets were quoting lower in mid-session deals on Thursday. In Asian markets, Tokyo, Shanghai, Hong Kong, and Seoul ended lower on Thursday. The US stock market also finished in the negative territory on Thursday.

Global oil benchmark Brent crude rose 0.77 per cent to $80.13 a barrel.

Foreign institutional investors bought equities worth Rs 2,089.28 crore in the capital markets on Thursday.

Rupee dips 2 paise

The rupee settled 2 paise lower at 83.75 (provisional) against the US dollar in a range-bound trade on Friday as massive sell-offs in domestic as well as global equity markets negated gains from a weak American currency.

The Indian currency resisted the fall due to a sharp decline in the dollar after the latest US data showed slower manufacturing growth in the world's largest economy, forex traders said.

At the interbank currency exchange, the domestic currency opened at 83.74 and traded in the narrow range of 83.72 and 83.76 against the greenback during the session. The unit finally settled at 83.75 (provisional) against the dollar, registering a loss of 2 paise from the previous closing level. On Thursday, the rupee declined 5 paise to settle at 83.73 against the US dollar.

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