Stock Market: Sensex Crashes 1,158 Points, Nifty Ends Below 15,850 Amid Unabated Sell-Off

Stock update: Wipro emerged as the sole winner, while the rest 29 were in the red. IndusInd Bank was the top loser (5.82%), followed by Tata Steel, Bajaj twins, Axis Bank, HDFC twins, and others on the BSE

New Delhi: The bear-run on the bourses continues as the two key equity benchmarks, Sensex and Nifty, extended their fall for the fifth straight session on Thursday. This is their respective 9-week low closing.

Headwinds such as high inflation rates and rate hikes emerged as a results of the ongoing Russia-Ukraine war have been denting investors’ sentiment. More over unabated selling by foreign institutional investors also continued to weigh on sentiments.

The 30-share BSE Sensex sank 1,158 points (2.14 per cent) to 52,930, while the broader NSE Nifty was down 360 points (2.22 per cent) to 15,808.

On the BSE, among the 30-share, Wipro emerged as the sole winner, while the rest 29 were in the red. IndusInd Bank was the top loser (5.82 per cent), followed by Tata Steel, Bajaj twins, Axis Bank, HDFC twins, and others.

In the broader markets, midcap and smallcap shares finished on a weak note as Nifty midcap 100 dived 2.33 per cent and smallcap slipped 1.87 per cent.

On the NSE, all of the 15 sector gauges settled in the negative zone. Sub-indexes Nifty PSU Bank, Nifty Financial Services and Nifty Metal underperformed the index by falling as much as 5.39 per cent, 3.05 per cent and 3.70 per cent, respectively.

On Wednesday, the BSE Sensex ended at 54,088, lower by 276.46 points (0.51 per cent), while the NSE Nifty dipped 72.95 points (0.45 per cent) to end at 16,167.

"Undoubtedly, the biggest negative catalyst continues to be inflation all over global economies. The anxiety at stock markets across globe is on the backdrop Federal Reserve's next strategy on interest rates...," Prashanth Tapse, Vice President (Research), Mehta Equities, told the PTI.

Elsewhere in Asia, markets in Tokyo, Hong Kong, Seoul and Shanghai settled sharply lower.

Equity markets in Europe were quoting with sharp cuts in the afternoon session.

Stock exchanges in the US had ended lower on Wednesday.

Meanwhile, international oil benchmark Brent crude declined 2.02 per cent to $105.7 per barrel.

According to stock exchange data, foreign institutional investors continued their selling spree and offloaded shares worth Rs 3,609.35 crore on Wednesday.