Stock market again in red; Sensex slips 300 points, Nifty below 24400
Sensex Opening Bell: The BSE Sensex fell 366.53 points to 80,002.50 in early trade. At the same time, the NSE Nifty slipped 129.25 points to 24,337.60. Nifty50 has fallen more than 5.5% so far in October. Let's know the market situation.
Major equity indices the Sensex and Nifty50 opened in the red on Wednesday as a result of a decline in banking and financial sectors amid a continuing sell-off in global markets and weak corporate earnings. At the start of trading, the BSE Sensex dropped 366.53 points to 80,002.50. In the meantime, the NSE Nifty fell 129.25 points to 24,337.60. The Nifty50 has dropped more than 5.5% in October so far and is headed for its worst monthly performance since March 2020. The rupee was seen to trade down by two paise at Rs 84.07 against the dollar.
Shares of Sun Pharma, ICICI Bank, Axis Bank, Bajaj Finserv, Kotak Mahindra Bank, State Bank of India, HCL Technologies, and Bharti Airtel lost money out of the 30 companies that were listed on the Sensex. However, shares in Larsen & Toubro, IndusInd Bank, Tata Motors, and Maruti were profitable.
Among Asian markets, the Kospi of South Korea, the Shanghai Composite of China, and Hong Kong's Hang Seng showed a loss, while Japan's Nikkei 225 remained in profit. On Tuesday, the US market closed in a mixed trend.
International standard Brent crude was up 0.48 percent at $ 71.46 per barrel. As against this, foreign institutional investors were sellers on Tuesday and sold shares worth a net of Rs 548.69 crore, stock market data showed.
