Share Market Today: Sensex Drops 550 Points; Nifty Around 23,330. Adani Group Top Loser
Share Market Today: On the 30-share Sensex platform, Adani Ports tanked 15 per cent. SBI, IndusInd Bank, NTPC, ITC, Asian Paints are among the other losers
Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Thursday plunged during early morning trade. At 10.10 am, the BSE Sensex slumped 557 points to 77,020. On the other hand, the NSE Nifty50 was trading at 23,331, dropping 187 point.
Stock update
On the 30-share Sensex platform, Adani Ports tanked 15 per cent. SBI, IndusInd Bank, NTPC, ITC, Asian Paints are among the other losers. On the flip side, PowerGrid, UltraCemco, TCS, Infosys, HCLTech, Sun Pharma emerged gainers.
In the broader markets, the Nifty Smallcap 100 and Nifty Midcap 100 indices rose 0.97 per cent and 0.93 per cent, respectively.
Sectoral update
All sectoral indices, except IT, are trading in the red, with PSU Bank, Metal, and Energy sectors declining by 1-2 per cent.
The markets were closed on Wednesday, November 20, on account of Maharashtra Assembly polls.
In the previous session on Tuesday, the BSE Sensex rose 239 points to end at 77,578, while the NSE Nifty50 closed higher at 23,518, up 65 points.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,411.73 crore on Tuesday, according to exchange data.
Global update
In Asian markets, Tokyo, Shanghai, and Hong Kong traded lower, while Seoul quoted higher. The US markets ended mostly in the positive territory.
Global oil benchmark Brent crude climbed 0.25 per cent to $72.99 a barrel.
Rupee trades flat
The rupee turned flat at 84.42 against the US dollar in early trade on Thursday amid volatile crude oil prices and lackluster sentiment in the domestic equity markets. A weaker American currency supported the local unit, but it was weighed down by the relentless outflow of foreign funds, forex traders said.
At the interbank foreign exchange, the rupee opened at 84.41 and slipped further to 84.42 against the greenback, trading at its previous closing level in early deals. On Tuesday, the rupee settled flat at 84.42 against the US dollar. The foreign exchange market was closed on Wednesday due to assembly elections in Maharashtra.
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