Share Market Today: Sensex Slips Below 80K, Falls 300 Points; Nifty Near 24250. IndusInd Bank Tanks 15%

Share Market Today: On the 30-share Sensex platform, IndusInd Bank tanked 15 per cent. NTPC, M&M, Tata Steel, L&T, JSW Steel emerged losers

Share Market Today: In the broader markets, the Nifty Midcap 100 declined 0.29 per cent, while the Nifty Smallcap 100 marginally rose by 0.04 per cent.

Source : ABPLIVE AI

Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Friday again slipped into the red after opening higher. At 10 am, the BSE Sensex dropped 319 points to 79,746. On the other hand, the NSE Nifty50 slumped 151 points to 24,248.

Stock update

On the 30-share Sensex platform, IndusInd Bank tanked 15 per cent. NTPC, M&M, Tata Steel, L&T, JSW Steel emerged losers. On the flip side, ITC, Axis Bank, Asian Paints, HUL, Nestle, Sun Pharma are among the early gainers.

In the broader markets, the Nifty Midcap 100 declined 0.29 per cent, while the Nifty Smallcap 100 marginally rose by 0.04 per cent.

Sectoral update

Across sectors, the FMCG index rose by 1 per cent, while indices for auto, capital goods, metal, oil & gas, power, realty, media, and telecom declined by 1-1.5 per cent.

In the previous session on Thursday, the BSE Sensex dipped 17 points to 80,065, while the NSE Nifty50 closed at 24,399, down 36 points.

Global update

In Asian markets, Seoul, Shanghai and Hong Kong traded higher while Tokyo quoted lower. The US markets ended mostly higher on Thursday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,062.45 crore on Thursday, according to exchange data, while Domestic Institutional Investors (DIIs) bought Rs 3,620.47 crore shares.

Global oil benchmark Brent crude climbed 0.24 per cent to $74.56 a barrel.

Rupee trades flat

The rupee stayed in a straightjacket for yet another week, trading at its near all-time low of 84.07 against the US dollar on Friday amid firm American currency and unprecedented foreign fund outflow. Forex traders said, the indication of some recovery in domestic equity markets prevented the fall in the local unit.

At the interbank foreign exchange, the local currency opened at 84.07 against the greenback, trading flat at previous day's closing level in initial deals.

On Thursday, the rupee had settled flat at 84.07 against the US dollar. The local currency has been struggling to recover since October 11, when it closed at its lowest level of 84.10 against the dollar.