Share Market Today: Sensex Plunges 1,000 Points; Nifty Below 24K. Reliance Down 3.6%
Share Market Today: On the 30-share Sensex platform, Sun Pharma, Reliance, NTPC, Adani Ports, Tata Motors, Titan emerged gainers
Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Monday plunged sharply in early morning trade, tracking mixed global trends and relentless selling by foreign investors. At 10.15 am, the BSE Sensex tanked 1,013 points to 78,711. On the other hand, the NSE Nifty50 was trading at 23,973, dropping 331 points.
Stock update
On the 30-share Sensex platform, Sun Pharma, Reliance, NTPC, Adani Ports, Tata Motors, Titan emerged gainers. On the flip side, M&M, TechM, HCLTech, IndusInd Bank were the only gainers.
In the broader markets, the Nifty Smallcap 100 declining 1.13 per cent, while the Nifty Midcap 100 slipping by 0.73 per cent.
Sectoral update
All sectoral indices are trading in the red, with capital goods, metals, oil & gas, power, and real estate down by 1-2 per cent.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 211.93 crore on Friday, according to exchange data.
Foreign investors pulled out a massive Rs 94,000 crore (around $11.2 billion) from the Indian stock market in October, making it the worst-ever month in terms of outflows, triggered by the elevated valuation of domestic equities and attractive valuations of Chinese stocks.
Global update
In Asian markets, Seoul, Shanghai and Hong Kong were trading higher. The US markets ended in the positive territory on Friday.
Global oil benchmark Brent crude climbed 1.49 per cent to $74.19 a barrel.
In the previous session on Friday, the BSE and NSE conducted a one-hour special 'Muhurat Trading' session on the occasion of Diwali on November 1, marking the start of the new Samvat 2081.
Rupee sees range-bound trade
The rupee witnessed range-bound trade and appreciated by just 1 paisa to 84.06 against the US dollar in initial deals on Monday, weighed down by persistent foreign fund outflows and a muted trend in domestic equities.
Forex traders said the rupee is likely to trade in a narrow range during the day as the strong dollar weighs on the local unit and rising crude oil prices dragged down the local unit, while any intervention by the Reserve Bank of India (RBI) may also support the local currency at lower levels.
At the interbank foreign exchange, the rupee opened at 84.07 against the greenback. In the initial trade, it touched 84.06, registering a rise of 1 paisa over its previous close. On Thursday, the rupee edged up 1 paisa to 84.07 against the US dollar.
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