Sunday, 17 October, 2021
HomeBusinessSensex Drops Over 500 Points, Nifty Below 17,500; Maruti Falls Over 2.5%

Sensex Drops Over 500 Points, Nifty Below 17,500; Maruti Falls Over 2.5%

The Indian fairness benchmarks staged a spot down opening on Friday on the again of weak world cues amid promoting strain throughout the board. The Sensex fell as a lot as 548 factors to hit an intraday low of 58,578 and Nifty 50 index dropped beneath its necessary psychological stage of 17,500. Asian markets have been buying and selling decrease with Japan’s Nikkei falling 2 per cent, Hong Kong’s Dangle Seng index declining 0.four per cent and Taiwan Weighted index down 1.four per cent.

In a single day, the Wall Avenue ended sharply decrease on Thursday and the S&P 500 posted its worst month because the onset of the worldwide well being disaster, following a tumultuous month and quarter wracked by issues over COVID-19, inflation fears and price range wrangling in Washington.

As of 9:22 am, the Sensex fell 526 factors to 58,600 and Nifty 50 index dropped 142 factors to 17,476.

Promoting strain was broad-based as all of the 15 sector gauges compiled by the Nationwide Inventory Trade have been buying and selling decrease led by the Nifty Steel index’s 1.four per cent fall. Nifty Financial institution, Monetary Companies, Auto, Media, PSU Financial institution, Personal Financial institution and Shopper Durables indexes additionally fell within the vary of 0.7-1.2 per cent.

Mid- and small-cap shares have been additionally going through promoting strain as Nifty Midcap 100 index dropped 0.51 per cent and Nifty Smallcap 100 index declined 0.Three per cent.

Maruti Suzuki was the highest Nifty loser, shares of the nation’s largest automotive maker fell as a lot as 3.Three per cent to hit an intraday low of Rs 7,097.65 after the corporate knowledgeable exchanges that it’s anticipating opposed impression on automobile manufacturing within the month of October in Haryana and Gujarat on account of scarcity of semiconductors.

Hindalco, Bajaj Finserv, Asian Paints, Adani Ports, HDFC Financial institution, Bharti Airtel, Tata Metal, Titan, ICICI Financial institution, Bajaj Finance, JSW Metal, Tata Motors and Shree Cements additionally fell between 1-2 per cent.

On the flipside, ONGC, Indian Oil, Energy Grid, Coal India, Bharat Petroleum, Coal India, Mahindra & Mahindra, NTPC and Divi’s Labs have been among the many gainers.

The general market breadth was marginally constructive as 1,348 shares have been advancing whereas 1,197 have been declining on the BSE.

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