Mumbai: Equity benchmark Sensex fell over 1,000 points on Thursday due to selling across the board amid general election uncertainties, while Nifty slipped below the 22,000 level.
Besides, persistent foreign fund outflows and heavy selling pressure in HDF Bank, Larsen & Toubro and Reliance Industries also weighed on investor sentiment, traders said.
Falling for the third consecutive day, the 30-share BSE Sensex closed 1,062.2 points or 1.45 per cent lower at 72,404.17. During the day it fell 1,132.21 points or 1.54 percent to 72,334.18.
NSE Nifty dived 345 points or 1.55 per cent to 21,957.50.It fell 370 points or 1.65 percent to 21,932.40 during the session.
“Broader markets witnessed volatility, with caution emphasized due to QE earnings and general election uncertainties, due to which investors remained on the sidelines. We expect this trend to continue in the short term as the market slipped below the physical level of 22,000. Vinod Nair, head of research at Geojit Financial Services, said global indices are trading with mixed signals ahead of the BOE policy meeting and US inflation data next week.
Sensex basket Larsen & Toubro fell over 5 per cent after March quarter earnings.Asian Paints, JSW Steel, ITC, Bajaj Finance, IndusInd Bank, Tata Steel, NTPC Bajaj Finserv, HDFC Bank, Reliance Industries and Power Grid were among the laggards.
In contrast, Tata Motors, Mahindra & Mahindra, State Bank of India, Infosys and HCL Tech were among the gainers.
Meanwhile, the country's largest lender SBI reported 18.18 per cent growth in March quarter consolidated net profit at Rs 21,384.15 crore against Rs 18,093.84 crore in the year-ago period.
Hindustan Petroleum Corporation Ltd (HPCL) on Thursday reported a 25 per cent decline in its March quarter net profit due to lower refining margins and announced one free bonus share for every two shares held.
In the broader market, the BSE Smallcap gauge fell 2.41 per cent and the MidSEA index fell 2.01 per cent.Among the indices, Oil & Gas fell 3.41 per cent, Capital Goods fell 3.3 per cent, Metal fell 3.13 per cent, Industrial (2.92 per cent), Utility (2.59 per cent) and Commodity (2.39 per cent) fell. .
On the other hand, auto emerged as the major gainer.
According to exchange data, foreign institutional investors (FIIs) sold equities worth Rs 6,669.1 crore on Wednesday.
"Nifty closed sharply lower due to institutional selling and traders stocking up on U.S. stocks amid jitters over election progress. World shares closed ahead of the Bank of England's policy decision and U.S. markets halted for the second day due to losses in U.S. and Chinese stocks. Most were lower on Thursday.It gained momentum after China reported better-than-expected trade data for April,” said Deepa Jasani, head of retail research at HDFC Securities.
In Asian markets, Shanghai and Hong Kong closed with gains, while Seoul and Tokyo closed with losses.
European markets were trading on a mixed note.
Wall Street closed mixed in overnight trading on Wednesday.
Global oil benchmark Brent crude rose 0.48 percent to US$83.89 per barrel.“The market is seeing sustained pressure ahead of the election results. We do not have any global reason for this correction, while some uncertainties ahead of the big event are causing profit-booking in the market. Our market is largely driven by domestic investors. is operated." Which includes both HNIs and institutional investors for the last few months.
“Now, they have been sitting on the sidelines for the last few days and taking some profits off the table before the big event, while FIIs are continuously selling in our market, which is pushing the market down.Volatility index India VIX has surged 70 per cent from its low, which is also creating some uncertainty among traders and investors, said Santosh Meena, head of research, Swastika Investmart Ltd.
The 30-share BSE index closed at 73,466.39, down 45.46 points or 0.06 per cent on Wednesday.Broader gauge Nifty remained unchanged at 22,302.50
Besides, persistent foreign fund outflows and heavy selling pressure in HDF Bank, Larsen & Toubro and Reliance Industries also weighed on investor sentiment, traders said.
Falling for the third consecutive day, the 30-share BSE Sensex closed 1,062.2 points or 1.45 per cent lower at 72,404.17. During the day it fell 1,132.21 points or 1.54 percent to 72,334.18.
NSE Nifty dived 345 points or 1.55 per cent to 21,957.50.It fell 370 points or 1.65 percent to 21,932.40 during the session.
“Broader markets witnessed volatility, with caution emphasized due to QE earnings and general election uncertainties, due to which investors remained on the sidelines. We expect this trend to continue in the short term as the market slipped below the physical level of 22,000. Vinod Nair, head of research at Geojit Financial Services, said global indices are trading with mixed signals ahead of the BOE policy meeting and US inflation data next week.
Sensex basket Larsen & Toubro fell over 5 per cent after March quarter earnings.Asian Paints, JSW Steel, ITC, Bajaj Finance, IndusInd Bank, Tata Steel, NTPC Bajaj Finserv, HDFC Bank, Reliance Industries and Power Grid were among the laggards.
In contrast, Tata Motors, Mahindra & Mahindra, State Bank of India, Infosys and HCL Tech were among the gainers.
Meanwhile, the country's largest lender SBI reported 18.18 per cent growth in March quarter consolidated net profit at Rs 21,384.15 crore against Rs 18,093.84 crore in the year-ago period.
Hindustan Petroleum Corporation Ltd (HPCL) on Thursday reported a 25 per cent decline in its March quarter net profit due to lower refining margins and announced one free bonus share for every two shares held.
In the broader market, the BSE Smallcap gauge fell 2.41 per cent and the MidSEA index fell 2.01 per cent.Among the indices, Oil & Gas fell 3.41 per cent, Capital Goods fell 3.3 per cent, Metal fell 3.13 per cent, Industrial (2.92 per cent), Utility (2.59 per cent) and Commodity (2.39 per cent) fell. .
On the other hand, auto emerged as the major gainer.
According to exchange data, foreign institutional investors (FIIs) sold equities worth Rs 6,669.1 crore on Wednesday.
"Nifty closed sharply lower due to institutional selling and traders stocking up on U.S. stocks amid jitters over election progress. World shares closed ahead of the Bank of England's policy decision and U.S. markets halted for the second day due to losses in U.S. and Chinese stocks. Most were lower on Thursday.It gained momentum after China reported better-than-expected trade data for April,” said Deepa Jasani, head of retail research at HDFC Securities.
In Asian markets, Shanghai and Hong Kong closed with gains, while Seoul and Tokyo closed with losses.
European markets were trading on a mixed note.
Wall Street closed mixed in overnight trading on Wednesday.
Global oil benchmark Brent crude rose 0.48 percent to US$83.89 per barrel.“The market is seeing sustained pressure ahead of the election results. We do not have any global reason for this correction, while some uncertainties ahead of the big event are causing profit-booking in the market. Our market is largely driven by domestic investors. is operated." Which includes both HNIs and institutional investors for the last few months.
“Now, they have been sitting on the sidelines for the last few days and taking some profits off the table before the big event, while FIIs are continuously selling in our market, which is pushing the market down.Volatility index India VIX has surged 70 per cent from its low, which is also creating some uncertainty among traders and investors, said Santosh Meena, head of research, Swastika Investmart Ltd.
The 30-share BSE index closed at 73,466.39, down 45.46 points or 0.06 per cent on Wednesday.Broader gauge Nifty remained unchanged at 22,302.50
