Share Market Today: Sensex Dives 1,200 Points; Nifty Ends Below 24K. Auto, IT Drag

Share Market Today: On the 30-share Sensex platform, barring SBI, all the constituents closed in the red. Infosys, M&M, Bajaj Finance, Adani Ports, HCLTech, TechM emerged losers

Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Thursday plunged sharply owing to a weakness in the global markets. At the end of the session, the BSE Sensex tanked 1,190 points to 79,043. On the other hand, the NSE Nifty50 closed at 23,914, down 361 points.

Stock update

On the 30-share Sensex platform, barring SBI, all the constituents closed in the red. Infosys, M&M, Bajaj Finance, Adani Ports, HCLTech, TechM emerged losers.

In the broader market, the BSE Midcap index closed flat while Smallcap index advanced 0.4 per cent.

Sectoral update

Across sectors, auto, banking, IT, FMCG, metal, pharma, and energy saw declines ranging from 0.3 per cent to 2 per cent. Meanwhile, the PSU Bank index rose by 1 per cent, and the Media index edged up by 0.3 per cent.

In the previous session on Wednesday, the BSE Sensex rose 230 points to close at 80,234, while the NSE Nifty50 gained 80 points settle at 24,275.

"Domestic markets took a breather after a strong start to the week. The overnight sell-off in the US market, driven by renewed uncertainty about the rate cut trajectory and rising geopolitical tension, led to a correction in heavyweight IT and consumer discretionary stocks," Vinod Nair, Head of Research, Geojit Financial Services, said.

Global update

In Asian markets, Seoul and Tokyo settled in the green, while Shanghai and Hong Kong ended lower. European markets were trading higher. The US markets ended lower on Wednesday. The decline in tech companies dragged major American indices lower.

Foreign Institutional Investors (FIIs) bought equities worth Rs 7.78 crore on Wednesday, according to exchange data.

Global oil benchmark Brent crude climbed 0.49 per cent to $73.18 a barrel.

Rupee falls 9 paise

The rupee depreciated 9 paise to close at 84.49 (provisional) against US dollar on Thursday, weighed down by a negative trend in domestic equities and broad strength of the American currency in the overseas markets. Forex traders said a mixed-to-weak tone in crude oil prices cushioned the downside.

At the interbank foreign exchange, the rupee opened at 84.45 and touched the lowest level of 84.50 against the greenback during intra-day. The unit ended the session at 84.49 (provisional) against the dollar, registering a fall of 9 paise over its previous close. The rupee hit its lowest-ever closing level of 84.50 on November 21. On Wednesday, the rupee depreciated by 11 paise to close at 84.40 against the US dollar.