Comments
The Sensex and the Nifty plunged deeper into the red at the close on Tuesday. The benchmark BSE index closed 1.45 per cent or 378 points lower at 25,743, its lowest close since September 28.
This was the biggest single-day fall since September 22.
The broader NSE index ended 1.67 per cent lower, its biggest single-day fall since September 22. The index ended at 7,783.35, recording its lowest close since September 8.
The NSE index chalked up its fifth straight session of losses in a late-hour sell-off as investors gave up positions ahead of a holiday-curtailed week.
The markets will open on Wednesday for a special one-hour trading session on Diwali, and will remain closed on Thursday.
The top gainers on the BSE were Maruti (1.94 per cent), Bajaj Auto (up 1.77 per cent), Hero MotoCorp (1.51 per cent), M&M (1.26 per cent), and HUL (0.43 per cent). The laggards were Dr Reddy's (5.37 per cent), ONGC (down 5.18 per cent), Reliance (3.85 per cent), Lupin (3.85 per cent), and CIL (3.82 per cent).
At the close all the sectoral indices were in the red with the exception of consumer durables, which was up a shade at 0.1 per cent. The top losers were oil and gas (3.77 per cent), healthcare (2.53 per cent), metals (2.78 per cent), and realty (2.42 per cent).
The only silver lining came from market debutant InterGlobe Aviation Ltd, owner of low-cost carrier IndiGo. InterGlobe's shares ended 14.67 per cent higher than its 765 rupee IPO price.
The benchmark indices opened marginally in the red and slipped further on weak Asian cues. The Nifty opened 37 points down at 7,877 while the Sensex opened 27 points down at 26,094.
A report by SMC Global said: "Asian stocks joined a global sell-off amid concern that US policymakers will end an unprecedented era of record-low borrowing costs next month, and as investors awaited a Chinese inflation report.
US stocks ended Monday with their sharpest decline in six weeks, marking a fourth consecutive session of losses for the S&P 500.Consumer prices in China were up just 1.3 per cent year-on-year in October. That was below forecasts for an increase of 1.5 per cent and down from 1.6 per cent in September. On a monthly basis, consumer prices slid 0.3 per cent after gaining 0.1 per cent in September. Producer prices were down an annual 5.9 per cent, in line with expectations and unchanged from the previous month."
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.