The Sensex lost 580 points on Thursday as profit-booking continued in the stocks of financial companies amid weak global markets. The 30-share BSE Sensex fell for some time to a high of 44,230 in volatile trading. The Sensex finally ended with a loss of 580.09 points or 1.31 percent at 43,599.96 points. At the same time, the National Stock Exchange’s Nifty also lost 166.55 points or 1.29 percent to 12,771.70 points. During the day’s trading, the Nifty rose to a high of 12,963 points.
Among the Sensex companies, SBI shares fell the most by nearly five percent. Shares of Axis Bank, ICICI Bank, Ultratech Cement, Bajaj Finance, HDFC Bank and Bharti Airtel were also in losses. On the other hand, Powergrid, ITC, NTPC, Tata Steel and Titan shares recorded gains.
The 30-share BSE Sensex was down by 240.96 points, or 0.55 per cent, at 43,939.09 in the morning. Similarly, the NSE Nifty fell 62.80 points or 0.49 percent to 12,875.45. Powergrid fell the most by two percent in the Sensex.
Arjun Yash Mahajan, head of institutional business at Reliance Securities, said domestic stock markets fell in anticipation of economic restrictions following the closure of the public school system in New York. Profit booking continued in almost all markets.
Other Asian markets were Hong Kong’s HangSeng and South Korea’s Cospi. China’s Shanghai Composite and Japan’s Nikki were in profit. European markets fell in early trade. Meanwhile, global benchmark Brent crude oil futures lost 0.65 percent to $ 44.05 a barrel. The rupee fell eight paise to close at 74.27 (temporary) per dollar in the interbank foreign exchange market.
The BSE Sensex had gained 227.34 points or 0.52 percent to close at a record level of 44,180.05 in the previous session, while the Nifty gained 64.05 points or 0.50 percent to end at an all-time high of 12,938.25. Foreign institutional investors remained net buyers in the capital market and according to provisional data on the stock market, they bought shares worth Rs 3,071.93 crore on a gross basis on Wednesday. The rupee fell eight paise to close at 74.27 (temporary) per dollar in the interbank foreign exchange market.