The sharp declines in both indices signal investor concerns and potential volatility in the coming days. The downturn affected a broad range of sectors, contributing to the overall market slump.
In a notable reversal, India's benchmark indices, Sensex and Nifty, rallied in the closing hours on Wednesday, driven by substantial buying in major players like Reliance Industries, ICICI Bank, and HDFC Bank.
Foreign Institutional Investors (FIIs) were noted to offload equities worth Rs 306.56 crore on Wednesday, according to exchange data.
Business News: In the 30-share Sensex pack, Titan, Power Grid, Maruti, Mahindra & Mahindra, Bharti Airtel, Hindustan Unilever, ICICI Bank, and State Bank of India were the major laggards.
All the 30-share Sensex pack of firms was trading in the green in early trade, with IndusInd Bank, Bajaj Finserv, Bajaj Finance, Axis Bank, ICICI Bank, Larsen & Toubro, and Tata Steel emerging as major winners.
At the interbank foreign exchange, the domestic unit opened at 79.30 against the dollar, then touched 79.25 in initial deals, registering a gain of 28 paise over its previous close.
From the 30-share Sensex pack, Tech Mahindra, Infosys, Bajaj Finserv, Mahindra & Mahindra, Tata Steel, and ICICI Bank were leading the gainers' chart.
30-share Sensex pack of firms was trading in the green in early trade, with Asian Paints, UltraTech Cement, Bharti Airtel, ICICI Bank, Tech Mahindra, Infosys, Mahindra & Mahindra, and Bajaj Finance emerging as the biggest gainers.
Power Grid, NTPC, Bharti Airtel, Reliance Industries, Titan, Maruti, HDFC Bank, Hindustan Unilever and Bajaj Finance were among the major gainers in initial trade.
At the interbank foreign exchange market, the rupee opened at 79.80 against the greenback, then fell further to 79.90, registering a decline of 12 paise over its last close.
Mumbai: At the interbank foreign exchange, the rupee opened at 79.92 against the American dollar and touched 79.84 in initial deals, registering a gain of 7 paise over the last close.
Equity benchmark gauges were at flat levels during early hours on Tuesday amid slim gains in Asian markets with investors concerned about the outlook of global macroeconomic data after the spread of COVID-19 virus. At 10:15 am, the BSE SandP Sensex was down by 30 points or 0.05 per cent at 55,553 while the Nifty 50 moved lower by 5 points or 0.03 per cent to 16,558.
Equity benchmark Sensex tanked 587 points on Monday, tracking heavy losses in HDFC twins, Reliance Industries, and Axis Bank amid a weak trend in global markets.
Equity benchmark indices maintained a bullish momentum on Tuesday and closed over 1 per cent higher as value buying pushed up auto, metal and banking scrips.
Equity benchmark indices scaled fresh lifetime high levels on Wednesday led by heavy buying in IT, auto and public sector bank stocks. The BSE SandP Sensex closed 394 points or 0.8 per cent higher at 49,792 while the Nifty 50 advanced by 124 points or 0.85 per cent to 14,645. Except for Nifty FMCG, all sectoral indices at the National Stock Exchange were in the positive zone with Nifty IT moving up by 2.2 per cent, auto by 2.4 per cent and PSU bank by 2.1 per cent. Among stocks, Tata Motors accelerated by 6 per cent to Rs 274.40 per share. Maruti Suzuki was up by 2.9 per cent and Mahindra and Mahindra by 2.2 per cent.
Equity benchmark indices traded at flat levels during thin year-end trading on Thursday with IT and FMCG stocks losing steam.
Equity benchmark indices moved up 0.7 per cent during early hours on December 29 as foreign fund flows seemed unstoppable and the global cues equally supportive.
Equity benchmark indices hit fresh highs during early hours on Monday amid positive global cues after US President Donald Trump signed into law a 2.3 trillion dollar pandemic aid and spending package.
Equity benchmark indices witnessed volatility during early hours on Friday tracking mixed Asian trends which defied a broader global rally. The BSE SandP Sensex opened at 47,026 but levelled 147 points or 0.31 per cent lower to 46,743 at 10:15 am.
Equity benchmark indices traded with thin gains during early hours on Thursday amid mixed global cues ahead of the weekly options expiry.
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