Sensex plunges 1,628 points, Nifty down 2.06 per cent in biggest single day loss since June 2022
Business | January 17, 2024 16:25 ISTThe fall in the Sensex and Nifty was primarily triggered by a substantial fall in HDFC Bank's share price.
The fall in the Sensex and Nifty was primarily triggered by a substantial fall in HDFC Bank's share price.
Banking shares faced significant selling pressure as all 12 Nifty Bank index constituents traded with cuts. The selling activity was triggered by negative commentary on HDFC Bank's below-par third quarter figures, impacting sentiment across the sector.
HDFC Bank reported a net profit of Rs 16,372 crore compared to Rs 15,976 crore in the quarter-ago period on a standalone basis.
The stock market witnessed a sharp decline as it opened in negative, with the Sensex plummeting more than 1,300 points to 71,757.54 in early trade. The overall market sentiment seemed to be impacted by HDFC Bank's decline, signaling a broader market correction.
The BSE Sensex was down 199.17 points at 73,128.77, while the Nifty fell by 65.15 points to 22,032.30.
Jio Financial Services' net profit during the nine-month period rose from Rs 32.25 crore to Rs 1,293.92 crore, while revenue increased from Rs 41.63 crore during the year ending March 2023 to Rs 1,435.78 crore in December 2023.
Stock markets: In the early trade, the 30-share BSE Sensex fell around 227 points to 73,101.01. Meanwhile, the Nifty also saw a decline of 68 points to begin on a quiet note.
The BSE Sensex rose by 1.05 per cent, reaching 73,327.94, while the Nifty was 202 points, or 0.93 per cent higher at 22,097.50. The market breadth reflected this movement, with 1787 shares advancing, 1609 shares declining, and 78 shares remaining unchanged.
Wipro's revenue from its IT business fell by 1 per cent and stood at Rs 22,151 crore, while its earnings before interest and tax margin for its IT business stood at 16 per cent.
Stock market indices achieved new milestones on Monday, with the BSE Sensex reaching a record high and the NSE Nifty surpassing the 22,000 mark for the first time.
The consolidated revenue for Wipro in the third quarter stood at Rs 22,205 crore, a 4.40 percent year-on-year (YoY) decline.
The Sensex rallied by 847.27 points to end the session at a record high of 72,568.45, while the Nifty rose by 247.35 points to an all-time high of 21,894.55.
The 30-share BSE Sensex climbed over 700 points to 72,431.14 Meanwhile, the Nifty also surged by 141.95 points to 21,789.15.
Maxposure has set the price band for the offering at Rs 31 to Rs 33 per share, with a face value of Rs 10 per share, with the book-built issue amounting to Rs 20.26 crore and comprising an entirely fresh issue of 61.4 lakh shares.
Stock markets update: In the early trade, the 30-share BSE Sensex climbed 341.76 points to 71,999.47. Meanwhile, the Nifty was also up by 107.8 points to 21,726.50 points.
The 30-share BSE Sensex dropped 81.35 points to 71,304.86 in early trade. Meanwhile, the Nifty fell by 27 points to 21,517.85.
The Sensex rose by 30.99 points, while the Nifty index climbed by 31.85 points on Tuesday.
Adani Ports is entering the bond market after the Supreme Court decision that the Adani Group is not required to undergo additional investigations beyond the market regulator’s current scrutiny.
In the early trade, the 30-share BSE Sensex jumped 493.4 points to 72,156.48. Meanwhile, the Nifty also gained 160.65 points to 21,673.65 points.
Stock markets update: In the early trade, the 30-share BSE Sensex jumped 155.62 points to 72,181.77. Meanwhile, the Nifty also gained 53.15 points to 21,763.95 points.
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